Analysts Set Banner Co. (NASDAQ:BANR) PT at $61.60

Banner Co. (NASDAQ:BANR) has earned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $61.60.

Several brokerages have recently commented on BANR. Raymond James increased their price objective on Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Piper Sandler set a $67.00 price objective on Banner in a research note on Thursday, October 17th. Stephens reissued an “overweight” rating and issued a $53.00 price objective on shares of Banner in a research note on Thursday, July 18th. Janney Montgomery Scott downgraded Banner from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Finally, DA Davidson increased their price objective on Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th.

Banner Stock Up 2.8 %

Shares of Banner stock opened at $75.30 on Tuesday. Banner has a one year low of $41.92 and a one year high of $77.01. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.84. The stock’s 50-day moving average is $62.18 and its 200 day moving average is $54.88. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 15.75 and a beta of 1.04.

Banner (NASDAQ:BANR) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.12. The business had revenue of $213.90 million for the quarter, compared to analyst estimates of $152.95 million. Banner had a return on equity of 10.22% and a net margin of 20.28%. During the same quarter in the prior year, the company earned $1.43 earnings per share. Equities research analysts anticipate that Banner will post 4.88 EPS for the current year.

Banner Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Tuesday, November 5th. Banner’s payout ratio is 40.17%.

Insider Activity at Banner

In other Banner news, VP James P.G. Mclean sold 1,500 shares of the 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 transaction, the vice president now directly owns 21,868 shares of the company’s stock, valued at approximately $1,653,876.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Banner

Hedge funds and other institutional investors have recently modified their holdings of the stock. Foundry Partners LLC raised its position in Banner by 2.3% during the 3rd quarter. Foundry Partners LLC now owns 6,194 shares of the financial services provider’s stock valued at $369,000 after purchasing an additional 137 shares during the last quarter. Intech Investment Management LLC raised its position in Banner by 36.2% during the 3rd quarter. Intech Investment Management LLC now owns 10,812 shares of the financial services provider’s stock valued at $644,000 after purchasing an additional 2,872 shares during the last quarter. Princeton Capital Management LLC bought a new position in Banner during the 3rd quarter valued at approximately $255,000. Natixis Advisors LLC bought a new position in Banner during the 3rd quarter valued at approximately $623,000. Finally, Empowered Funds LLC raised its position in Banner by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 92,695 shares of the financial services provider’s stock valued at $5,521,000 after purchasing an additional 4,690 shares during the last quarter. Institutional investors own 87.33% of the company’s stock.

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.