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

Shares of Banner Co. (NASDAQ:BANR) have earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. Three 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 brokers that have covered the stock in the last year is $61.60.

BANR has been the topic of a number of research reports. Piper Sandler set a $67.00 price target on shares of Banner in a research note on Thursday, October 17th. DA Davidson raised their price target on Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Raymond James boosted their price target on Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd.

Banner Trading Down 0.9 %

Shares of NASDAQ BANR opened at $74.59 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.30. Banner has a one year low of $42.00 and a one year high of $78.05. The business has a 50-day moving average price of $66.64 and a two-hundred day moving average price of $57.52. The firm has a market capitalization of $2.57 billion, a PE ratio of 15.60 and a beta of 1.04.

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

Banner Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Tuesday, November 5th. Banner’s dividend payout ratio is 40.17%.

Insider Activity at Banner

In related news, VP James P.G. Mclean sold 1,500 shares of the firm’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 transaction, the vice president now directly owns 21,868 shares in the company, valued at approximately $1,653,876.84. This trade represents a 6.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Banner

A number of hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in shares of Banner by 79.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,328,616 shares of the financial services provider’s stock worth $79,132,000 after purchasing an additional 588,591 shares during 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 worth $106,334,000 after buying an additional 193,434 shares during the last quarter. FMR LLC boosted its position in shares of Banner by 395.4% in the third quarter. FMR LLC now owns 166,120 shares of the financial services provider’s stock valued at $9,894,000 after acquiring an additional 132,586 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Banner by 18.4% in the second quarter. The Manufacturers Life Insurance Company now owns 795,929 shares of the financial services provider’s stock worth $39,510,000 after acquiring an additional 123,903 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Banner by 22.0% during the second quarter. American Century Companies Inc. now owns 607,769 shares of the financial services provider’s stock worth $30,170,000 after acquiring an additional 109,457 shares during the period. 87.33% of the stock is currently owned by institutional investors.

About Banner

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.