Analysts Set Banner Co. (NASDAQ:BANR) Price Target at $54.00

Banner Co. (NASDAQ:BANR) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $54.00.

Several research analysts recently weighed in on the company. Stephens reissued an “overweight” rating and set a $53.00 price target on shares of Banner in a research report on Thursday, July 18th. Piper Sandler upped their target price on Banner from $51.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Janney Montgomery Scott cut shares of Banner from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Finally, StockNews.com lowered shares of Banner from a “hold” rating to a “sell” rating in a research note on Saturday, June 8th.

Hedge Funds Weigh In On Banner

A number of institutional investors have recently modified their holdings of BANR. Norges Bank bought a new stake in Banner in the 4th quarter valued at $12,097,000. Hsbc Holdings PLC increased its stake in Banner by 2,700.2% in the fourth quarter. Hsbc Holdings PLC now owns 221,243 shares of the financial services provider’s stock valued at $11,861,000 after acquiring an additional 213,342 shares during the period. The Manufacturers Life Insurance Company raised its position in 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 purchasing an additional 123,903 shares in the last quarter. American Century Companies Inc. lifted its stake 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 purchasing an additional 109,457 shares during the period. Finally, Edgestream Partners L.P. bought a new stake in shares of Banner in the 1st quarter valued at approximately $4,931,000. Institutional investors own 87.33% of the company’s stock.

Banner Price Performance

NASDAQ BANR opened at $61.29 on Monday. Banner has a 1 year low of $39.31 and a 1 year high of $61.77. The stock’s 50-day moving average price is $57.47 and its two-hundred day moving average price is $50.28. The company has a market cap of $2.11 billion, a PE ratio of 12.74 and a beta of 1.05. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.43.

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

Banner Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were issued a $0.48 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $1.92 annualized dividend and a yield of 3.13%. Banner’s dividend payout ratio (DPR) is currently 39.92%.

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.