Banner (NASDAQ:BANR) Stock Passes Above 200 Day Moving Average – Time to Sell?

Shares of Banner Corporation (NASDAQ:BANR) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $62.88 and traded as high as $67.11. Banner shares last traded at $66.91, with a volume of 217,794 shares traded.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Banner from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Piper Sandler upped their target price on Banner from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Wall Street Zen raised Banner from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Banner has a consensus rating of “Hold” and an average target price of $70.00.

Banner Stock Performance

The firm has a market cap of $2.27 billion, a PE ratio of 11.26 and a beta of 0.85. The company has a 50 day simple moving average of $61.87 and a 200-day simple moving average of $62.88. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.85.

Banner (NASDAQ:BANR) last issued its earnings results on Wednesday, April 22nd. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.21. The business had revenue of $168.91 million during the quarter, compared to analyst estimates of $169.60 million. Banner had a return on equity of 10.77% and a net margin of 23.24%. As a group, equities research analysts anticipate that Banner Corporation will post 6.23 EPS for the current year.

Banner Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th will be paid a $0.52 dividend. This is an increase from Banner’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, May 5th. Banner’s payout ratio is currently 33.67%.

Institutional Trading of Banner

Institutional investors have recently made changes to their positions in the stock. Financial Life Planners purchased a new stake in shares of Banner during the third quarter valued at approximately $32,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Banner during the fourth quarter valued at approximately $31,000. Aquatic Capital Management LLC purchased a new stake in shares of Banner during the third quarter valued at approximately $36,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Banner during the second quarter valued at approximately $45,000. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of Banner during the fourth quarter valued at approximately $66,000. Hedge funds and other institutional investors own 87.33% of the company’s stock.

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.