Banner's (BANR) Overweight Rating Reaffirmed at Stephens

Banner (NASDAQ:BANR - Get Free Report)'s stock had its "overweight" rating reiterated by Stephens in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $82.00 price objective on the financial services provider's stock. Stephens' price target indicates a potential upside of 17.97% from the company's previous close.

Several other research analysts also recently commented on the company. Raymond James lifted their target price on Banner from $62.00 to $65.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods lifted their price objective on shares of Banner from $69.00 to $81.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Piper Sandler set a $67.00 price objective on shares of Banner in a research report on Thursday, October 17th. Finally, DA Davidson lifted 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 analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $74.20.

Banner Stock Down 1.1 %

Shares of NASDAQ:BANR traded down $0.76 during midday trading on Thursday, hitting $69.51. The stock had a trading volume of 257,788 shares, compared to its average volume of 257,153. The company has a market cap of $2.40 billion, a P/E ratio of 14.24 and a beta of 1.09. Banner has a 12 month low of $42.00 and a 12 month high of $78.05. The business's 50-day simple moving average is $70.36 and its 200-day simple moving average is $63.60. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.30.

Banner (NASDAQ:BANR - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.11. Banner had a net margin of 20.28% and a return on equity of 10.11%. On average, sell-side analysts forecast that Banner will post 4.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Banner news, VP James P.G. Mclean sold 1,500 shares of Banner stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.63, for a total value of $113,445.00. Following the completion of the transaction, the vice president now directly owns 21,868 shares of the company's stock, valued at $1,653,876.84. The trade was a 6.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Banner

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised its holdings in shares of Banner by 223.1% during the 2nd quarter. Renaissance Technologies LLC now owns 54,599 shares of the financial services provider's stock worth $2,710,000 after buying an additional 37,700 shares in the last quarter. Intech Investment Management LLC bought a new position in Banner in the second quarter valued at about $394,000. Public Sector Pension Investment Board raised 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 worth $3,762,000 after acquiring an additional 5,378 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 worth $3,570,000 after acquiring an additional 38,273 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Banner by 18.4% in 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. 87.33% of the stock is currently owned by institutional investors and hedge funds.

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.