Brokerages Set Banner Co. (NASDAQ:BANR) PT at $74.20

Shares of Banner Co. (NASDAQ:BANR - Get Free Report) have received an average rating of "Moderate Buy" from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $74.20.

Several research firms have commented on BANR. DA Davidson increased their target price on shares of Banner from $73.00 to $76.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Stephens reissued an "overweight" rating and set a $82.00 price objective on shares of Banner in a report on Thursday, January 23rd.

Institutional Investors Weigh In On Banner

Several hedge funds and other institutional investors have recently modified their holdings of BANR. Geode Capital Management LLC grew its position in Banner by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 823,763 shares of the financial services provider's stock worth $49,073,000 after purchasing an additional 11,808 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Banner by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,379,521 shares of the financial services provider's stock worth $92,111,000 after buying an additional 49,457 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Banner during the fourth quarter worth about $274,000. William Blair Investment Management LLC raised its holdings in Banner by 10,213.3% in the 4th quarter. William Blair Investment Management LLC now owns 634,579 shares of the financial services provider's stock valued at $42,371,000 after acquiring an additional 628,426 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Banner by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 409,885 shares of the financial services provider's stock worth $24,413,000 after acquiring an additional 29,174 shares during the period. Institutional investors and hedge funds own 87.33% of the company's stock.

Banner Stock Up 3.4 %

Shares of BANR traded up $1.95 during midday trading on Friday, reaching $59.13. 44,634 shares of the stock were exchanged, compared to its average volume of 208,302. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 12.10 and a beta of 0.94. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.32. Banner has a 12-month low of $42.00 and a 12-month high of $78.05. The firm has a 50 day simple moving average of $66.29 and a 200-day simple moving average of $67.26.

Banner (NASDAQ:BANR - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.11. Banner had a net margin of 20.28% and a return on equity of 10.03%. Research analysts forecast that Banner will post 5.23 EPS for the current year.

Banner Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were issued a dividend of $0.48 per share. The ex-dividend date was Tuesday, February 4th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.25%. Banner's dividend payout ratio (DPR) is presently 39.34%.

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.