Banner Corporation (NASDAQ:BANR) Stock Has Consensus Target Price of $75.75 According to Analysts

Banner Corporation (NASDAQ:BANR) has earned an average rating of “Hold” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $75.75.

BANR has been the topic of several research reports. DA Davidson boosted their price target on Banner from $74.00 to $76.00 and gave the company a “neutral” rating in a research note on Friday, October 23rd. Piper Sandler decreased their price target on shares of Banner from $74.00 to $71.00 and set a “neutral” rating on the stock in a research note on Thursday, October 1st. Wall Street Zen lowered shares of Banner from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Keefe, Bruyette & Woods lifted their price objective on Banner from $75.00 to $78.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Finally, Benchmark began coverage on Banner in a report on Wednesday, July 8th. They set a “hold” rating for the company.

Hedge Funds Weigh In On Banner

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BANR. Allspring Global Investments Holdings LLC grew its stake in Banner by 16.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 127,389 shares of the financial services provider’s stock worth $8,575,000 after buying an additional 17,896 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Banner in the third quarter worth $345,000. Hennessy Advisors Inc. boosted its holdings in Banner by 25.0% in the third quarter. Hennessy Advisors Inc. now owns 10,000 shares of the financial services provider’s stock valued at $670,000 after acquiring an additional 2,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Banner in the 3rd quarter worth about $2,170,000. Finally, Moss Adams Wealth Advisors LLC bought a new stake in shares of Banner during the 3rd quarter valued at about $250,000. 87.33% of the stock is owned by institutional investors.

Banner Price Performance

NASDAQ BANR opened at $71.88 on Friday. Banner has a twelve month low of $57.05 and a twelve month high of $74.84. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $2.44 billion, a PE ratio of 12.22 and a beta of 0.83. The stock has a 50-day simple moving average of $69.14 and a 200 day simple moving average of $66.21.

Banner (NASDAQ:BANR) last issued its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. Banner had a return on equity of 10.44% and a net margin of 22.81%. The company had revenue of $179.07 million for the quarter, compared to the consensus estimate of $184.24 million. Research analysts anticipate that Banner will post 6.13 EPS for the current year.

Banner Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Thursday, November 5th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $2.08 dividend on an annualized basis and a yield of 2.9%. Banner’s payout ratio is presently 35.37%.

About Banner

Banner Corporation (NASDAQ: BANR) is a bank holding company headquartered in Walla Walla, Washington. Through its principal subsidiary, Banner Bank, the company provides banking and financial services to individuals, families, businesses and communities in the Pacific Northwest.

Banner Bank offers deposit products, residential and commercial real estate lending, construction and land development loans, commercial and industrial financing, agricultural loans, consumer loans and home equity products.