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

Shares of Banner Co. (NASDAQ:BANR) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $61.60.

BANR has been the subject of several recent analyst reports. Stephens reissued an “overweight” rating and issued a $53.00 price target on shares of Banner in a report on Thursday, July 18th. Piper Sandler set a $67.00 target price on Banner in a report on Thursday, October 17th. Raymond James upped their price target on shares of Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Janney Montgomery Scott cut shares of Banner from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. 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 report on Friday, October 18th.

Hedge Funds Weigh In On Banner

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in Banner during the second quarter valued at approximately $53,000. EntryPoint Capital LLC lifted its stake in Banner by 100.9% during the first quarter. EntryPoint Capital LLC now owns 1,111 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 558 shares during the last quarter. US Bancorp DE boosted its holdings in Banner by 287.1% in the third quarter. US Bancorp DE now owns 1,436 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 1,065 shares during the period. CWM LLC increased its stake in Banner by 60.1% during the second quarter. CWM LLC now owns 1,904 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 715 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Banner during the second quarter worth $152,000. 87.33% of the stock is owned by hedge funds and other institutional investors.

Banner Trading Down 1.0 %

BANR opened at $64.25 on Tuesday. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 13.44 and a beta of 1.04. Banner has a 52 week low of $41.87 and a 52 week high of $68.11. The business’s 50 day moving average is $60.92 and its two-hundred day moving average is $53.95. 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 (NASDAQ:BANR) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.30 EPS for the quarter, beating the consensus estimate of $1.18 by $0.12. The firm had revenue of $213.90 million during the quarter, compared to the consensus estimate 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 prior year, the business earned $1.43 EPS. On average, research analysts predict that Banner will post 4.82 EPS for the current year.

Banner Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.99%. The ex-dividend date is Tuesday, November 5th. Banner’s dividend payout ratio (DPR) is presently 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.