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

Banner Co. (NASDAQ:BANR - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the six analysts that are currently covering the company, MarketBeat 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 covered the stock in the last year is $61.60.

A number of research firms have recently weighed in on BANR. DA Davidson increased their price objective on shares of Banner from $60.00 to $69.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Raymond James lifted their price objective on Banner from $62.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler set a $67.00 target price on Banner in a research note on Thursday, October 17th.

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. raised its holdings in Banner by 79.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,328,616 shares of the financial services provider's stock valued at $79,132,000 after buying an additional 588,591 shares during the period. Wellington Management Group LLP increased its position in shares of Banner by 12.2% during the third quarter. Wellington Management Group LLP now owns 1,785,319 shares of the financial services provider's stock worth $106,334,000 after acquiring an additional 193,434 shares during the period. FMR LLC raised its position in Banner by 395.4% in the 3rd quarter. FMR LLC now owns 166,120 shares of the financial services provider's stock valued at $9,894,000 after purchasing an additional 132,586 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake 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 acquiring an additional 123,903 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of 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 in the last quarter. 87.33% of the stock is owned by hedge funds and other institutional investors.

Banner Stock Performance

Shares of NASDAQ BANR traded down $0.68 during mid-day trading on Friday, hitting $74.59. The stock had a trading volume of 113,185 shares, compared to its average volume of 198,141. The firm has a market cap of $2.57 billion, a PE ratio of 15.60 and a beta of 1.04. 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 company has a 50 day moving average of $66.64 and a two-hundred day moving average of $57.52. Banner has a twelve month low of $42.00 and a twelve month high of $78.05.

Banner (NASDAQ:BANR - Get Free Report) 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 firm had revenue of $213.90 million during the quarter, compared to analysts' expectations of $152.95 million. During the same period last year, the business posted $1.43 earnings per share. Research analysts predict that Banner will post 4.88 EPS for the current fiscal year.

Banner Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.92 dividend on an annualized basis and a yield of 2.57%. Banner's payout ratio is 40.17%.

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.