Banner (NASDAQ:BANR) Hits New 1-Year High – Here’s What Happened

Banner Co. (NASDAQ:BANR)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $77.80 and last traded at $77.39, with a volume of 8273 shares changing hands. The stock had previously closed at $75.47.

Analysts Set New Price Targets

A number of brokerages have recently commented on BANR. Raymond James lifted their price target on shares of Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Piper Sandler set a $67.00 target price on shares of Banner in a research report on Thursday, October 17th. Finally, DA Davidson increased their price target on Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $61.60.

Banner Stock Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.84 and a current ratio of 0.85. The company has a market capitalization of $2.60 billion, a P/E ratio of 15.80 and a beta of 1.04. The business’s fifty day simple moving average is $65.78 and its 200-day simple moving average is $57.07.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.12. The business had revenue of $213.90 million during the quarter, compared to analysts’ expectations of $152.95 million. Banner had a net margin of 20.28% and a return on equity of 10.22%. During the same period last year, the company posted $1.43 EPS. As a group, equities analysts anticipate that Banner Co. will post 4.88 earnings per share for the current fiscal year.

Banner Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend was Tuesday, November 5th. Banner’s payout ratio is currently 40.17%.

Insider Buying and Selling at Banner

In other Banner news, VP James P.G. Mclean sold 1,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.63, for a total value of $113,445.00. Following the completion of the sale, the vice president now directly owns 21,868 shares in the company, valued at approximately $1,653,876.84. This represents a 6.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Banner

Several institutional investors and hedge funds have recently made changes to their positions in the company. Innealta Capital LLC purchased a new position in Banner during the 2nd quarter valued at about $53,000. US Bancorp DE lifted its position in Banner by 287.1% during the 3rd quarter. US Bancorp DE now owns 1,436 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 1,065 shares during the period. CWM LLC boosted its position in Banner by 60.1% in the second quarter. CWM LLC now owns 1,904 shares of the financial services provider’s stock valued at $94,000 after buying an additional 715 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Banner during the 2nd quarter valued at about $152,000. Finally, Clear Creek Financial Management LLC acquired a new stake in Banner during the third quarter valued at $209,000. 87.33% of the stock is currently owned by institutional investors.

About Banner

Banner Corporation operates as the bank holding company for Banner Bank that engages in the provision of 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.