Analysts Set Banner Corporation (NASDAQ:BANR) Target Price at $71.00

Banner Corporation (NASDAQ:BANR) has received an average rating of “Hold” from the five brokerages that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $71.00.

A number of research firms have weighed in on BANR. Keefe, Bruyette & Woods upped their price objective on shares of Banner from $73.00 to $75.00 and gave the company a “market perform” rating in a research report on Monday, May 18th. Piper Sandler increased their price target on Banner from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, April 27th. DA Davidson reissued a “neutral” rating and issued a $72.00 price target on shares of Banner in a report on Monday, May 4th. Finally, Weiss Ratings upgraded Banner from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th.

Banner Stock Down 1.0%

NASDAQ BANR opened at $67.17 on Friday. The stock has a market cap of $2.28 billion, a PE ratio of 11.31 and a beta of 0.83. Banner has a fifty-two week low of $57.05 and a fifty-two week high of $69.83. The business has a 50 day moving average price of $65.49 and a two-hundred day moving average price of $63.73. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.10.

Banner (NASDAQ:BANR) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. The company had revenue of $168.91 million for the quarter, compared to analyst estimates of $169.60 million. Banner had a net margin of 23.24% and a return on equity of 10.77%. As a group, sell-side analysts predict that Banner will post 6.12 EPS for the current fiscal year.

Banner Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This is an increase from Banner’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.1%. Banner’s dividend payout ratio is 35.02%.

Institutional Trading of Banner

Several institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in Banner by 1.0% in the fourth quarter. Royal Bank of Canada now owns 17,519 shares of the financial services provider’s stock valued at $1,097,000 after purchasing an additional 167 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Banner by 31.5% during the second quarter. Versant Capital Management Inc now owns 714 shares of the financial services provider’s stock worth $47,000 after buying an additional 171 shares during the last quarter. First Trust Advisors LP boosted its holdings in Banner by 0.4% during the third quarter. First Trust Advisors LP now owns 41,634 shares of the financial services provider’s stock worth $2,727,000 after buying an additional 175 shares during the last quarter. US Bancorp DE grew its position in shares of Banner by 8.9% during the 3rd quarter. US Bancorp DE now owns 2,154 shares of the financial services provider’s stock worth $141,000 after buying an additional 176 shares during the period. Finally, ProShare Advisors LLC grew its position in shares of Banner by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 6,628 shares of the financial services provider’s stock worth $415,000 after buying an additional 197 shares during the period. 87.33% of the stock is owned by institutional investors and hedge funds.

About Banner

Banner Corporation, through its principal subsidiary Banner Bank, operates as a regional commercial bank headquartered in Walla Walla, Washington. Founded in 2000 as a bank holding company, Banner traces its origins to community banking roots in Eastern Washington dating back to the late 19th century. Over the past two decades, the company has grown through both organic expansion and strategic acquisitions, establishing a strong presence throughout the Pacific Northwest.

The company offers a comprehensive suite of financial products and services for individual and business clients.