Banner (NASDAQ:BANR) Price Target Raised to $76.00 at DA Davidson

Banner (NASDAQ:BANR) had its price objective increased by DA Davidson from $73.00 to $76.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

A number of other equities analysts have also recently issued reports on BANR. Piper Sandler set a $67.00 target price on Banner in a report on Thursday, October 17th. Stephens restated an “overweight” rating and set a $82.00 target price on shares of Banner in a report on Thursday. Keefe, Bruyette & Woods raised their price target on Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Raymond James raised their price target on Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $74.20.

Banner Trading Down 1.1 %

NASDAQ:BANR opened at $69.51 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.30. Banner has a 1-year low of $42.00 and a 1-year high of $78.05. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 14.24 and a beta of 1.09. The business’s 50-day moving average price is $70.36 and its two-hundred day moving average price is $63.60.

Banner (NASDAQ:BANR) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.11. Banner had a return on equity of 10.11% and a net margin of 20.28%. On average, equities analysts expect that Banner will post 4.89 earnings per share for the current year.

Banner Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, February 4th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Tuesday, February 4th. Banner’s dividend payout ratio is presently 39.34%.

Insider Activity at Banner

In related news, VP James P.G. Mclean sold 1,500 shares of Banner stock in a transaction that occurred 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 sale, the vice president now owns 21,868 shares of the company’s stock, valued at approximately $1,653,876.84. This trade represents a 6.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Banner

A number of hedge funds and other institutional investors have recently bought and sold shares of BANR. USA Financial Formulas acquired a new position in shares of Banner during the 4th quarter worth approximately $32,000. Financial Life Planners acquired a new position in shares of Banner during the 4th quarter worth approximately $32,000. US Bancorp DE increased its position in shares of Banner by 287.1% during the 3rd quarter. US Bancorp DE now owns 1,436 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 1,065 shares during the last quarter. KBC Group NV increased its position in shares of Banner by 46.0% during the 4th quarter. KBC Group NV now owns 1,656 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 522 shares during the last quarter. Finally, CWM LLC increased its position in shares of Banner by 19.5% during the 3rd quarter. CWM LLC now owns 2,275 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 371 shares during the last quarter. Institutional investors and hedge funds 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.