Banner Co. (NASDAQ:BANR) Receives $54.00 Consensus Price Target from Analysts

Banner Co. (NASDAQ:BANR) has earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $54.00.

A number of equities analysts have issued reports on the stock. Stephens restated an “overweight” rating and issued a $53.00 target price on shares of Banner in a research note on Thursday, July 18th. Piper Sandler boosted their price objective on Banner from $51.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Janney Montgomery Scott lowered Banner from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Finally, StockNews.com downgraded shares of Banner from a “hold” rating to a “sell” rating in a report on Saturday, June 8th.

Hedge Funds Weigh In On Banner

Several large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its stake in Banner by 18.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 795,929 shares of the financial services provider’s stock valued at $39,510,000 after purchasing an additional 123,903 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Banner by 113.8% in the second quarter. AQR Capital Management LLC now owns 71,915 shares of the financial services provider’s stock valued at $3,570,000 after buying an additional 38,273 shares during the period. Public Sector Pension Investment Board boosted its stake in Banner by 7.6% during the second quarter. Public Sector Pension Investment Board now owns 75,787 shares of the financial services provider’s stock valued at $3,762,000 after buying an additional 5,378 shares in the last quarter. Intech Investment Management LLC acquired a new position in Banner during the second quarter worth about $394,000. Finally, Denali Advisors LLC bought a new stake in Banner in the second quarter worth about $323,000. Institutional investors and hedge funds own 87.33% of the company’s stock.

Banner Price Performance

Shares of NASDAQ BANR opened at $61.29 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 12.74 and a beta of 1.05. Banner has a twelve month low of $39.31 and a twelve month high of $61.77. The business has a 50 day simple moving average of $57.47 and a 200-day simple moving average of $50.28.

Banner (NASDAQ:BANR) last issued its earnings results 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. Banner had a net margin of 20.93% and a return on equity of 10.89%. The company had revenue of $149.75 million for the quarter, compared to analysts’ expectations of $149.66 million. As a group, equities research analysts expect that Banner will post 4.71 earnings per share for the current year.

Banner Announces Dividend

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 3.13%. The ex-dividend date was Tuesday, August 6th. Banner’s dividend payout ratio 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.