Banner (NASDAQ:BANR) Sees Large Volume Increase - Time to Buy?

Key Points

• Banner shares jumped on heavy trading volume, with about 515,230 shares changing hands, roughly 80% above the prior session, while the stock rose to $67.33.
• Analyst sentiment remains cautious overall: Banner has an average Hold rating and a consensus price target of $71, though Weiss Ratings recently upgraded the stock and some firms nudged targets higher.
• The bank reported solid quarterly results, beating EPS expectations at $1.59 per share, and also raised its quarterly dividend to $0.52 per share, implying a 3.1% yield.

Banner Corporation (NASDAQ:BANR - Get Free Report) saw unusually-high trading volume on Friday . Approximately 515,230 shares traded hands during mid-day trading, an increase of 80% from the previous session's volume of 287,016 shares.The stock last traded at $67.33 and had previously closed at $66.85.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on BANR shares. DA Davidson reissued a "neutral" rating and set a $72.00 price objective on shares of Banner in a research note on Monday, May 4th. Benchmark initiated coverage on Banner in a research note on Wednesday. They issued a "hold" rating for the company. Keefe, Bruyette & Woods lifted their target price on Banner from $73.00 to $75.00 and gave the stock a "market perform" rating in a report on Monday, May 18th. Piper Sandler boosted their target price on Banner from $63.00 to $67.00 and gave the company a "neutral" rating in a research report on Monday, April 27th. Finally, Weiss Ratings raised Banner from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, June 18th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $71.00.

Banner Trading Up 1.1%

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.86. The company's fifty day simple moving average is $65.55 and its 200-day simple moving average is $63.74. The company has a market capitalization of $2.30 billion, a P/E ratio of 11.36 and a beta of 0.83.

Banner (NASDAQ:BANR - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $1.59 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.21. Banner had a return on equity of 10.77% and a net margin of 23.24%.The company had revenue of $168.91 million during the quarter, compared to analyst estimates of $169.60 million. Research analysts predict that Banner Corporation will post 6.12 earnings per share for the current year.

Banner Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were paid a dividend of $0.52 per share. The ex-dividend date was Tuesday, May 5th. This is an increase from Banner's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 3.1%. Banner's payout ratio is presently 35.02%.

Hedge Funds Weigh In On Banner

Several hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC increased its holdings in shares of Banner by 836.0% in the fourth quarter. SG Americas Securities LLC now owns 22,605 shares of the financial services provider's stock valued at $1,416,000 after purchasing an additional 20,190 shares during the period. Sovran Advisors LLC purchased a new position in shares of Banner in the fourth quarter worth about $1,147,000. Vanguard Group Inc. lifted its holdings in shares of Banner by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,837,199 shares of the financial services provider's stock worth $240,439,000 after purchasing an additional 44,249 shares during the period. UBS Group AG lifted its holdings in shares of Banner by 241.2% during the fourth quarter. UBS Group AG now owns 454,807 shares of the financial services provider's stock worth $28,498,000 after purchasing an additional 321,522 shares during the period. Finally, Deprince Race & Zollo Inc. boosted its position in Banner by 93.8% in the fourth quarter. Deprince Race & Zollo Inc. now owns 488,295 shares of the financial services provider's stock valued at $30,597,000 after buying an additional 236,394 shares during the last quarter. 87.33% of the stock is owned by institutional investors and hedge funds.

About Banner

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.

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