Analysts Set Banner Corporation (NASDAQ:BANR) Price Target at $70.00

Banner Corporation (NASDAQ:BANR) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $70.00.

Several analysts have weighed in on the company. Weiss Ratings raised Banner from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Wall Street Zen raised Banner from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Piper Sandler lowered their target price on Banner from $67.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd.

Banner Trading Down 0.4%

NASDAQ:BANR opened at $63.09 on Tuesday. The stock has a fifty day moving average price of $61.58 and a two-hundred day moving average price of $62.73. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 11.19 and a beta of 0.85. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.86. Banner has a 1 year low of $57.05 and a 1 year high of $69.83.

Banner (NASDAQ:BANR) last released its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.09. The firm had revenue of $169.90 million during the quarter, compared to analysts’ expectations of $173.23 million. Banner had a return on equity of 10.46% and a net margin of 22.26%. As a group, sell-side analysts anticipate that Banner will post 5.23 earnings per share for the current fiscal year.

Banner Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Tuesday, February 3rd were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, February 3rd. This represents a $2.00 annualized dividend and a yield of 3.2%. Banner’s dividend payout ratio is 35.46%.

Institutional Trading of Banner

Several large investors have recently bought and sold shares of the company. Financial Life Planners acquired a new stake in shares of Banner during the third quarter valued at $32,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Banner during the fourth quarter valued at $31,000. Aquatic Capital Management LLC acquired a new stake in shares of Banner during the third quarter valued at $36,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Banner during the second quarter valued at $45,000. Finally, Lodestone Wealth Management LLC acquired a new stake in shares of Banner during the fourth quarter valued at $66,000. Institutional investors and hedge funds 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.