Banner (NASDAQ:BANR) Price Target Raised to $81.00

Banner (NASDAQ:BANR) had its price target lifted by Keefe, Bruyette & Woods from $69.00 to $81.00 in a report published on Wednesday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the company. Piper Sandler set a $67.00 target price on Banner in a report on Thursday, October 17th. Raymond James raised 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. Finally, DA Davidson upped their target price on shares of Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Banner currently has an average rating of “Hold” and an average target price of $67.00.

Banner Trading Up 2.4 %

Banner stock opened at $75.26 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.30. The stock’s 50 day simple moving average is $67.78 and its two-hundred day simple moving average is $58.27. Banner has a 12 month low of $42.00 and a 12 month high of $78.05. The firm has a market cap of $2.59 billion, a PE ratio of 15.67 and a beta of 1.07.

Banner (NASDAQ:BANR) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.12. The firm had revenue of $213.90 million for the quarter, compared to analysts’ expectations of $152.95 million. Banner had a return on equity of 10.22% and a net margin of 20.28%. During the same period last year, the firm earned $1.43 EPS. Analysts anticipate that Banner will post 4.88 earnings per share for the current year.

Banner Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.48 per share. The ex-dividend date was Tuesday, November 5th. This represents a $1.92 annualized dividend and a dividend yield of 2.55%. 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 business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.63, for a total value of $113,445.00. Following the transaction, the vice president now directly owns 21,868 shares in the company, valued at $1,653,876.84. The trade was a 6.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Banner

Several institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Banner by 1.5% in the third quarter. Geode Capital Management LLC now owns 823,763 shares of the financial services provider’s stock worth $49,073,000 after acquiring an additional 11,808 shares during the period. Barclays PLC lifted its stake in shares of Banner by 97.4% in the 3rd quarter. Barclays PLC now owns 75,768 shares of the financial services provider’s stock valued at $4,512,000 after purchasing an additional 37,390 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Banner by 12.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,785,319 shares of the financial services provider’s stock worth $106,334,000 after purchasing an additional 193,434 shares during the last quarter. Systematic Financial Management LP acquired a new stake in shares of Banner during the 3rd quarter worth about $554,000. Finally, Captrust Financial Advisors raised its holdings in Banner by 3.0% in the 3rd quarter. Captrust Financial Advisors now owns 5,443 shares of the financial services provider’s stock valued at $324,000 after buying an additional 160 shares during the period. Hedge funds and other institutional investors own 87.33% of the company’s stock.

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.