Banner Co. (NASDAQ:BANR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Banner Co. (NASDAQ:BANR) have been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $67.00.

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

Insider Buying and Selling 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 stock was sold at an average price of $75.63, for a total transaction of $113,445.00. Following the completion of the transaction, the vice president now directly owns 21,868 shares of the company’s stock, valued at approximately $1,653,876.84. This represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Banner

Institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its holdings in Banner by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,330,064 shares of the financial services provider’s stock worth $79,219,000 after buying an additional 43,398 shares during the last quarter. Versor Investments LP bought a new position in shares of Banner in the 3rd quarter valued at about $439,000. Geode Capital Management LLC increased its stake in shares of Banner by 1.5% during 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 during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Banner by 2.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 203,759 shares of the financial services provider’s stock valued at $10,115,000 after purchasing an additional 5,380 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Banner by 12.2% in the 3rd 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. Institutional investors own 87.33% of the company’s stock.

Banner Price Performance

Shares of BANR stock opened at $67.57 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. Banner has a 12-month low of $42.00 and a 12-month high of $78.05. The firm has a fifty day moving average of $70.34 and a 200-day moving average of $60.64. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 14.14 and a beta of 1.07.

Banner (NASDAQ:BANR) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.12. The firm had revenue of $213.90 million during the quarter, compared to analysts’ expectations of $152.95 million. Banner had a return on equity of 10.22% and a net margin of 20.28%. During the same period in the previous year, the firm earned $1.43 earnings per share. On average, equities research analysts forecast that Banner will post 4.88 earnings per share for the current year.

Banner Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Tuesday, November 5th. Banner’s dividend payout ratio (DPR) is currently 40.17%.

Banner Company Profile

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.