Banner (NASDAQ:BANR) Price Target Increased to $66.00 by Analysts at Stephens

Banner (NASDAQ:BANRGet Rating) had its price target boosted by Stephens from $64.00 to $66.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Several other brokerages have also recently weighed in on BANR. Raymond James dropped their price target on shares of Banner from $72.00 to $70.00 and set a strong-buy rating on the stock in a research report on Friday. StockNews.com initiated coverage on shares of Banner in a research report on Thursday, March 31st. They issued a hold rating on the stock. Finally, Zacks Investment Research raised shares of Banner from a hold rating to a buy rating and set a $68.00 price target on the stock in a research report on Monday, March 28th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Banner currently has a consensus rating of Buy and an average target price of $66.00.

BANR stock 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-to-equity 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:BANRGet Rating) last released its quarterly earnings data on Wednesday, April 20th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, topping 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%. During the same quarter in the previous year, the firm posted $1.33 EPS. On average, analysts anticipate that Banner will post 4.78 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 13th. Investors of record on Tuesday, May 3rd will be given a $0.44 dividend. The ex-dividend date of this dividend is Monday, May 2nd. This represents a $1.76 annualized dividend 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 stock in a transaction that occurred on Monday, January 31st. 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, which is accessible through this link. Also, VP Kenneth William Johnson sold 2,900 shares of Banner stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $61.50, for a total transaction of $178,350.00. The disclosure for this sale can be found here. 1.37% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of BANR. Commonwealth Equity Services LLC lifted its position in shares of Banner by 25.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 18,002 shares of the financial services provider’s stock worth $993,000 after buying an additional 3,646 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Banner during the 3rd quarter worth approximately $221,000. Nordea Investment Management AB increased its stake in shares of Banner by 110.4% during the 3rd quarter. Nordea Investment Management AB now owns 227,744 shares of the financial services provider’s stock worth $12,740,000 after purchasing an additional 119,523 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Banner by 390.5% during the 3rd quarter. SG Americas Securities LLC now owns 9,953 shares of the financial services provider’s stock worth $550,000 after purchasing an additional 7,924 shares during the last quarter. Finally, New York State Common Retirement Fund increased its stake in shares of Banner by 50.5% during the 3rd quarter. New York State Common Retirement Fund now owns 326,091 shares of the financial services provider’s stock worth $18,003,000 after purchasing an additional 109,463 shares during the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Banner Company Profile (Get Rating)

Banner Corporation operates as the bank holding company for Banner Bank that provide 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 treasury management services and retirement savings plans.

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