Banner Co. (NASDAQ:BANR) Given Consensus Rating of "Moderate Buy" by Brokerages

Banner Co. (NASDAQ:BANR - Get Free Report) has received an average recommendation of "Moderate Buy" from the six research firms that are covering the firm, MarketBeat Ratings reports. Three 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 brokerages that have issued a report on the stock in the last year is $61.60.

BANR has been the subject of a number of research reports. DA Davidson boosted their price target 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. Janney Montgomery Scott lowered shares of Banner from a "buy" rating to a "neutral" rating in a report on Friday, July 19th. Stephens reissued an "overweight" rating and set a $53.00 price objective on shares of Banner in a research report on Thursday, July 18th. Piper Sandler set a $67.00 price target on shares of Banner in a report on Thursday, October 17th. Finally, Raymond James increased their price objective on shares of Banner from $62.00 to $65.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 2nd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Banner by 33.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,109 shares of the financial services provider's stock worth $1,403,000 after purchasing an additional 6,838 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Banner by 35.0% in the first quarter. BNP Paribas Financial Markets now owns 28,817 shares of the financial services provider's stock valued at $1,383,000 after buying an additional 7,467 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in Banner by 8.7% in the first quarter. Mutual of America Capital Management LLC now owns 153,326 shares of the financial services provider's stock valued at $7,360,000 after buying an additional 12,246 shares during the last quarter. Texas Permanent School Fund Corp lifted its stake in Banner by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 30,061 shares of the financial services provider's stock valued at $1,443,000 after buying an additional 389 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Banner in the first quarter valued at approximately $291,000. Hedge funds and other institutional investors own 87.33% of the company's stock.

Banner Stock Up 2.2 %

Shares of NASDAQ BANR traded up $1.40 during mid-day trading on Tuesday, reaching $65.18. 166,804 shares of the company's stock traded hands, compared to its average volume of 196,309. The stock has a market cap of $2.25 billion, a P/E ratio of 13.64 and a beta of 1.04. The business has a 50-day simple moving average of $60.92 and a 200 day simple moving average of $53.95. Banner has a 1-year low of $41.87 and a 1-year high of $68.11. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.84.

Banner (NASDAQ:BANR - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.12. Banner had a net margin of 20.28% and a return on equity of 10.22%. The business had revenue of $213.90 million for the quarter, compared to analysts' expectations of $152.95 million. During the same period in the previous year, the company earned $1.43 earnings per share. On average, analysts expect that Banner will post 4.82 EPS for the current fiscal year.

Banner Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Tuesday, November 5th. Banner's payout ratio is 40.17%.

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.