Banner (NASDAQ:BANR) Sets New 52-Week High – What’s Next?

Banner Co. (NASDAQ:BANR) reached a new 52-week high on Friday . The stock traded as high as $62.03 and last traded at $61.78, with a volume of 17569 shares changing hands. The stock had previously closed at $60.23.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BANR. Piper Sandler boosted their target price on Banner from $51.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Raymond James boosted their price objective on Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Janney Montgomery Scott cut Banner from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Finally, Stephens restated an “overweight” rating and set a $53.00 price objective on shares of Banner in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $56.80.

Banner Stock Up 4.3 %

The firm has a market capitalization of $2.16 billion, a PE ratio of 12.52 and a beta of 1.05. The company has a fifty day simple moving average of $57.59 and a two-hundred day simple moving average of $51.55. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.85 and a current ratio of 0.85.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.03. The firm had revenue of $149.75 million during the quarter, compared to analysts’ expectations of $149.66 million. Banner had a return on equity of 10.89% and a net margin of 20.93%. Analysts forecast that Banner Co. will post 4.71 EPS for the current fiscal year.

Banner Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Tuesday, August 6th. Banner’s dividend payout ratio (DPR) is currently 39.92%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System increased its holdings in shares of Banner by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 17,300 shares of the financial services provider’s stock valued at $859,000 after purchasing an additional 300 shares during the period. Diversified Trust Co increased its holdings in shares of Banner by 3.9% in the first quarter. Diversified Trust Co now owns 9,906 shares of the financial services provider’s stock valued at $475,000 after purchasing an additional 371 shares during the period. CWM LLC increased its holdings in shares of Banner by 19.5% in the third quarter. CWM LLC now owns 2,275 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 371 shares during the period. Texas Permanent School Fund Corp increased its holdings in shares of Banner by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 30,061 shares of the financial services provider’s stock valued at $1,443,000 after purchasing an additional 389 shares during the period. Finally, ProShare Advisors LLC increased its holdings in shares of Banner by 7.4% in the first quarter. ProShare Advisors LLC now owns 6,906 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 475 shares during the period. 87.33% of the stock is owned by institutional investors and hedge funds.

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.