Brokerages Set Banner Co. (NASDAQ:BANR) PT at $67.00

Banner Co. (NASDAQ:BANR) has earned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $72.80.

A number of brokerages have issued reports on BANR. Raymond James raised their price objective on shares of Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods raised their price target on Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Stephens reiterated an “overweight” rating and issued a $82.00 price objective on shares of Banner in a report on Thursday. DA Davidson increased 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. Finally, Piper Sandler set a $67.00 target price on Banner in a research report on Thursday, October 17th.

Banner Stock Up 0.1 %

Shares of NASDAQ:BANR opened at $70.27 on Friday. Banner has a 12 month low of $42.00 and a 12 month high of $78.05. The firm has a market cap of $2.42 billion, a P/E ratio of 14.70 and a beta of 1.09. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average price is $70.42 and its two-hundred day moving average price is $63.56.

Banner (NASDAQ:BANR) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.11. Banner had a return on equity of 10.22% and a net margin of 20.28%. As a group, research analysts forecast that Banner will post 4.9 EPS for the current fiscal year.

Banner Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Tuesday, February 4th. Banner’s payout ratio is currently 40.17%.

Insider Activity

In related news, VP James P.G. Mclean sold 1,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.63, for a total value of $113,445.00. Following the sale, the vice president now directly owns 21,868 shares of the company’s stock, valued at approximately $1,653,876.84. The trade was a 6.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Banner

Several hedge funds and other institutional investors have recently modified their holdings of BANR. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 in the last quarter. Geode Capital Management LLC boosted its position in 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 acquiring an additional 11,808 shares during the last quarter. Versor Investments LP bought a new position in shares of Banner during the 3rd quarter worth approximately $439,000. JPMorgan Chase & Co. raised its holdings in shares of Banner by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 409,885 shares of the financial services provider’s stock valued at $24,413,000 after purchasing an additional 29,174 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Banner by 12.2% in the third quarter. Wellington Management Group LLP now owns 1,785,319 shares of the financial services provider’s stock worth $106,334,000 after purchasing an additional 193,434 shares in the last quarter. Institutional investors and hedge funds own 87.33% of the company’s stock.

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.