Banner Co. (NASDAQ:BANR) Receives $67.00 Average Target Price from Analysts

by · The Markets Daily

Banner Co. (NASDAQ:BANR – Get Free Report) has earned an average rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $67.00.

A number of research firms have recently weighed in on BANR. Keefe, Bruyette & Woods lifted their price target on Banner from $69.00 to $81.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. DA Davidson lifted their target price on Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Raymond James increased their price target on Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler set a $67.00 price objective on shares of Banner in a research note on Thursday, October 17th.

Check Out Our Latest Stock Analysis on BANR

Banner Price Performance

Shares of BANR opened at $66.77 on Wednesday. Banner has a 12 month low of $42.00 and a 12 month high of $78.05. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.84. The stock has a fifty day moving average price of $70.44 and a 200 day moving average price of $61.39. The company has a market cap of $2.30 billion, a P/E ratio of 13.97 and a beta of 1.07.

Banner (NASDAQ:BANR – Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.18 by $0.12. The business had revenue of $213.90 million during the quarter, compared to analyst estimates of $152.95 million. Banner had a net margin of 20.28% and a return on equity of 10.22%. During the same quarter in the prior year, the firm earned $1.43 earnings per share. On average, research analysts forecast that Banner will post 4.88 earnings per share for the current year.

Banner Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were issued a $0.48 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $1.92 annualized dividend and a dividend yield of 2.88%. Banner’s dividend payout ratio (DPR) is 40.17%.

Insider Activity at Banner

In related news, VP James P.G. Mclean sold 1,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $75.63, for a total transaction of $113,445.00. Following the completion of the sale, the vice president now directly owns 21,868 shares of the company’s stock, valued at $1,653,876.84. This represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in shares of Banner by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,361,774 shares of the financial services provider’s stock worth $117,236,000 after acquiring an additional 37,780 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Banner by 12.2% during the third quarter. Wellington Management Group LLP now owns 1,785,319 shares of the financial services provider’s stock valued at $106,334,000 after purchasing an additional 193,434 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Banner by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,330,064 shares of the financial services provider’s stock valued at $79,219,000 after purchasing an additional 43,398 shares during the period. Victory Capital Management Inc. boosted its position in shares of Banner by 79.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,328,616 shares of the financial services provider’s stock valued at $79,132,000 after purchasing an additional 588,591 shares during the period. Finally, Geode Capital Management LLC increased its stake in Banner by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 823,763 shares of the financial services provider’s stock worth $49,073,000 after purchasing an additional 11,808 shares in the last quarter. Institutional investors and hedge funds own 87.33% of the company’s stock.

About Banner

(Get Free Report

Banner Corporation operates as the bank holding company for Banner Bank that engages in the provision of commercial banking and financial products and services to individuals, businesses, and public sector entities in the United States. It accepts various deposit instruments, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, regular savings accounts, and certificates of deposit, as well as treasury management services and retirement savings plans.

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