Banner (NASDAQ:BANR) Reaches New 1-Year High – Should You Buy?

Banner Corporation (NASDAQ:BANR) reached a new 52-week high during trading on Tuesday . The stock traded as high as $72.79 and last traded at $72.80, with a volume of 123599 shares changing hands. The stock had previously closed at $71.41.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Banner from $75.00 to $78.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Weiss Ratings raised shares of Banner from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. DA Davidson lifted their target price on shares of Banner from $72.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Piper Sandler upped their price target on shares of Banner from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Finally, Benchmark started coverage on Banner in a report on Wednesday, July 8th. They issued a “hold” rating for the company. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $72.75.

Banner Stock Up 2.0%

The firm has a 50-day moving average of $67.96 and a 200 day moving average of $64.67. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 12.02 and a beta of 0.83. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.02). Banner had a net margin of 23.55% and a return on equity of 10.72%. The firm had revenue of $172.11 million during the quarter, compared to analyst estimates of $174.54 million. On average, sell-side analysts anticipate that Banner Corporation will post 6.2 earnings per share for the current year.

Banner Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Tuesday, August 4th will be paid a $0.52 dividend. The ex-dividend date is Tuesday, August 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.9%. Banner’s dividend payout ratio is 34.32%.

Hedge Funds Weigh In On Banner

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BANR. UBS Group AG grew its stake in shares of Banner by 241.2% during the fourth quarter. UBS Group AG now owns 454,807 shares of the financial services provider’s stock valued at $28,498,000 after acquiring an additional 321,522 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Banner by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 3,837,199 shares of the financial services provider’s stock valued at $240,439,000 after purchasing an additional 44,249 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Banner by 100.2% in the first quarter. Hsbc Holdings PLC now owns 28,708 shares of the financial services provider’s stock valued at $1,743,000 after purchasing an additional 14,367 shares during the last quarter. Deprince Race & Zollo Inc. grew its stake in Banner by 93.8% during the 4th quarter. Deprince Race & Zollo Inc. now owns 488,295 shares of the financial services provider’s stock valued at $30,597,000 after purchasing an additional 236,394 shares in the last quarter. Finally, Entropy Technologies LP grew its stake in Banner by 400.6% during the 1st quarter. Entropy Technologies LP now owns 23,054 shares of the financial services provider’s stock valued at $1,399,000 after purchasing an additional 18,449 shares in the last quarter. 87.33% of the stock is owned by hedge funds and other institutional investors.

Banner Company Profile

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.