Banner (NASDAQ:BANR) Price Target Raised to $66.00 by Stephens Analysts
Banner (NASDAQ:BANR – Get a rating) saw its price target raised by Stephens from $64.00 to $66.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has an equal weighting rating on the shares of the financial services provider.
Several other brokerages have also recently weighed in on BANR. Raymond James lowered his price target on Banner shares from $72.00 to $70.00 and set a strong buy rating on the stock in a research report on Friday. StockNews.com launched a coverage on Banner shares in a research report on Thursday, March 31. They issued a hold note on the stock. To finish, Zacks Investment Research raised Banner shares from a hold rating to a buy rating and set a price target of $68.00 on the stock in a Monday, March 28 research report. Three analysts gave the stock a hold rating, one gave the stock a buy rating and one gave the stock a strong buy rating. Based on data from MarketBeat, Banner currently has a buy consensus rating and an average target price of $66.00.
BANR action opened at $56.58 on Monday. The stock has a market capitalization of $1.94 billion, a PE ratio of 9.91 and a beta of 1.05. The company’s 50-day moving average is $44.81 and its 200-day moving average is $38.91. The company has a debt ratio of 0.11, a current ratio of 0.78 and a quick ratio of 0.79. Banner has a 1-year low of $49.10 and a 1-year high of $66.79.
Banner (NASDAQ:BANR – Get a rating) last released its quarterly earnings data on Wednesday, April 20. The financial services provider reported earnings per share (EPS) of $1.27 for the quarter, beating the Zacks consensus estimate of $1.10 by $0.17. Banner had a net margin of 32.46% and a return on equity of 12.47%. In the same quarter a year earlier, the company posted EPS of $1.33. On average, analysts expect Banner to post earnings per share of 4.78 for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 13. Investors of record on Tuesday, May 3 will receive a dividend of $0.44. The ex-date of this dividend is Monday, May 2. This represents an annualized dividend of $1.76 and a yield of 3.11%. Banner’s payout ratio is 30.82%.
In other Banner news, Director David I. Matson sold 1,738 shares of Banner in a trade that took place on Monday, January 31. The shares were sold at an average price of $61.06, for a total transaction of $106,122.28. The transaction was disclosed in a legal filing with the SEC, accessible via this link. Additionally, Vice Chairman Kenneth William Johnson sold 2,900 shares of Banner in a trade that took place on Monday, March 14. The stock was sold at an average price of $61.50, for a total transaction of $178,350.00. Disclosure of this sale can be found here. 1.37% of the shares are held by insiders of the company.
Several institutional investors have recently bought and sold shares of BANR. Commonwealth Equity Services LLC increased its position in Banner shares by 25.4% during the third quarter. Commonwealth Equity Services LLC now owns 18,002 shares of the financial services provider worth $993,000 after buying 3,646 additional shares last quarter. Janney Montgomery Scott LLC purchased a new stake in Banner stock during Q3 for approximately $221,000. Nordea Investment Management AB increased its stake in Banner shares by 110.4% during the third quarter. Nordea Investment Management AB now owns 227,744 shares of the financial services provider worth $12,740,000 after buying an additional 119,523 shares in the last quarter. SG Americas Securities LLC increased its stake in Banner shares by 390.5% during the third quarter. SG Americas Securities LLC now owns 9,953 shares of the financial services provider worth $550,000 after purchasing an additional 7,924 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake in Banner shares by 50.5% during the third quarter. The New York State Common Retirement Fund now owns 326,091 shares of the financial services provider worth $18,003,000 after buying an additional 109,463 shares in the last quarter. 83.75% of the shares are currently held by hedge funds and other institutional investors.
Company profile banner (Get a rating)
Banner Corporation operates as a bank holding company for Banner Bank which provides 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 cash management services and savings plans. pension saving.
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