Banner (NASDAQ:BANR) Price Target Raised to $51.00 at Raymond James

Banner (NASDAQ:BANRFree Report) had its price objective hoisted by Raymond James from $47.00 to $51.00 in a research note issued to investors on Monday morning, Benzinga reports. Raymond James currently has an outperform rating on the financial services provider’s stock.

Several other analysts have also commented on the company. StockNews.com raised Banner from a sell rating to a hold rating in a report on Friday, December 1st. Stephens decreased their price objective on Banner from $54.00 to $51.00 and set an overweight rating on the stock in a research report on Friday, October 20th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $53.75.

Check Out Our Latest Stock Report on BANR

Banner Stock Down 3.4 %

Banner stock opened at $48.18 on Monday. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 9.04 and a beta of 1.03. The stock has a fifty day simple moving average of $49.92 and a two-hundred day simple moving average of $46.17. Banner has a 12 month low of $39.31 and a 12 month high of $67.30. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.40.

Banner Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 16th. Stockholders of record on Wednesday, February 7th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend is Tuesday, February 6th. Banner’s dividend payout ratio (DPR) is presently 36.02%.

Insider Activity

In related news, VP James P.G. Mclean sold 1,733 shares of Banner stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $50.03, for a total value of $86,701.99. Following the sale, the vice president now directly owns 18,895 shares in the company, valued at approximately $945,316.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.40% of the company’s stock.

Institutional Trading of Banner

Institutional investors have recently made changes to their positions in the company. Carmel Capital Partners LLC purchased a new stake in Banner in the third quarter valued at approximately $25,000. Lazard Asset Management LLC acquired a new position in shares of Banner in the second quarter worth $27,000. Eagle Bay Advisors LLC grew its stake in shares of Banner by 126.7% in the second quarter. Eagle Bay Advisors LLC now owns 501 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 280 shares in the last quarter. CWM LLC grew its stake in shares of Banner by 923.0% in the third quarter. CWM LLC now owns 757 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 683 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Banner in the third quarter worth $34,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

About Banner

(Get Free Report)

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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