DA Davidson Forecasts Strong Price Appreciation for Banner (NASDAQ:BANR) Stock

Banner (NASDAQ:BANR) had its price target increased by DA Davidson from $73.00 to $76.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. Piper Sandler set a $67.00 target price on Banner in a research note on Thursday, October 17th. Keefe, Bruyette & Woods boosted their price target on Banner from $69.00 to $81.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Stephens restated an “overweight” rating and issued a $82.00 price target on shares of Banner in a research note on Thursday. 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Banner currently has an average rating of “Hold” and an average price target of $74.20.

Banner Stock Performance

Shares of NASDAQ BANR opened at $69.51 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 12 month low of $42.00 and a 12 month high of $78.05. The stock has a 50 day moving average of $70.36 and a 200-day moving average of $63.60. The company has a market capitalization of $2.40 billion, a P/E ratio of 14.24 and a beta of 1.09.

Banner (NASDAQ:BANR) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.22 by $0.11. Banner had a return on equity of 10.11% and a net margin of 20.28%. As a group, equities research analysts predict that Banner will post 4.89 EPS for the current year.

Banner Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, February 4th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.76%. Banner’s payout ratio is 39.34%.

Insider Activity

In other news, VP James P.G. Mclean sold 1,500 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 21,868 shares in the company, valued at approximately $1,653,876.84. This represents 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

Institutional investors have recently modified their holdings of the stock. Foundry Partners LLC raised its holdings in shares of Banner by 2.3% during the 3rd quarter. Foundry Partners LLC now owns 6,194 shares of the financial services provider’s stock worth $369,000 after buying an additional 137 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of Banner by 3.0% during the 3rd quarter. Captrust Financial Advisors now owns 5,443 shares of the financial services provider’s stock worth $324,000 after buying an additional 160 shares in the last quarter. CWM LLC raised its holdings in shares of Banner by 19.5% during the 3rd quarter. CWM LLC now owns 2,275 shares of the financial services provider’s stock worth $136,000 after buying an additional 371 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Banner during the 4th quarter worth $32,000. Finally, Financial Life Planners acquired a new position in shares of Banner during the 4th quarter worth $32,000. 87.33% of the stock is currently owned by institutional investors.

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.