Banner Co. (NASDAQ:BANR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Banner Co. (NASDAQ:BANR) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $67.00.

Several brokerages have recently issued reports on BANR. Piper Sandler set a $67.00 price target on Banner in a report on Thursday, October 17th. DA Davidson lifted their target price on shares of Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Raymond James increased their price target on shares of Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Banner from $69.00 to $81.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Banner Stock Down 1.9 %

Banner stock opened at $66.86 on Wednesday. Banner has a twelve month low of $42.00 and a twelve month high of $78.05. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.84 and a current ratio of 0.85. The firm has a market cap of $2.30 billion, a PE ratio of 13.99 and a beta of 1.07. The firm’s 50 day moving average price is $70.38 and its two-hundred day moving average price is $61.10.

Banner (NASDAQ:BANR) last announced its quarterly earnings data 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. Banner had a return on equity of 10.22% and a net margin of 20.28%. The business had revenue of $213.90 million during the quarter, compared to analyst estimates of $152.95 million. During the same period last year, the company earned $1.43 earnings per share. On average, research analysts predict that Banner will post 4.88 EPS for the current fiscal year.

Banner Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Tuesday, November 5th. Banner’s dividend payout ratio is currently 40.17%.

Insiders Place Their Bets

In other Banner news, VP James P.G. Mclean sold 1,500 shares of the 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 completion of the sale, the vice president now directly owns 21,868 shares of the company’s stock, valued at $1,653,876.84. This represents a 6.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Banner

A number of institutional investors have recently bought and sold shares of the business. Innealta Capital LLC acquired a new position in shares of Banner in the 2nd quarter worth approximately $53,000. US Bancorp DE boosted its stake in shares of Banner by 287.1% in the 3rd quarter. US Bancorp DE now owns 1,436 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 1,065 shares in the last quarter. CWM LLC grew its holdings in shares of Banner by 19.5% in the 3rd quarter. CWM LLC now owns 2,275 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 371 shares during the last quarter. Quest Partners LLC bought a new position in Banner during the 2nd quarter valued at about $152,000. Finally, Clear Creek Financial Management LLC bought a new position in Banner during the 3rd quarter valued at about $209,000. Institutional investors and hedge funds 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.