Banner Co. (NASDAQ:BANR - Get Rating)'s stock price gapped up prior to trading on Tuesday after Stephens raised their price target on the stock from $64.00 to $66.00. The stock had previously closed at $56.65, but opened at $58.18. Stephens currently has an equal weight rating on the stock. Banner shares last traded at $56.20, with a volume of 376 shares.
Other research analysts have also issued research reports about the company. StockNews.com began coverage on Banner in a report on Thursday, March 31st. They issued a "hold" rating on the stock. Zacks Investment Research upgraded Banner from a "hold" rating to a "buy" rating and set a $68.00 target price on the stock in a report on Monday, March 28th. Finally, Raymond James dropped their target price on Banner from $72.00 to $70.00 and set a "strong-buy" rating on the stock in a report on Friday, April 22nd. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Banner has an average rating of "Buy" and a consensus target price of $66.00.
In related news, Director David I. Matson sold 1,738 shares of Banner stock in a transaction on Monday, January 31st. The stock was sold at an average price of $61.06, for a total transaction of $106,122.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Kenneth William Johnson sold 2,900 shares of Banner stock in a transaction on Monday, March 14th. The stock was sold at an average price of $61.50, for a total value of $178,350.00. The disclosure for this sale can be found here. Company insiders own 1.37% of the company's stock.
A number of institutional investors have recently modified their holdings of the stock. Private Ocean LLC purchased a new stake in Banner in the first quarter worth $27,000. CWM LLC increased its position in Banner by 116.7% in the first quarter. CWM LLC now owns 505 shares of the financial services provider's stock worth $30,000 after buying an additional 272 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Banner in the fourth quarter worth $35,000. Point72 Hong Kong Ltd purchased a new stake in Banner in the third quarter worth $90,000. Finally, PNC Financial Services Group Inc. increased its position in Banner by 32.1% in the third quarter. PNC Financial Services Group Inc. now owns 2,113 shares of the financial services provider's stock worth $117,000 after buying an additional 513 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company's stock.
The company has a quick ratio of 0.79, a current ratio of 0.78 and a debt-to-equity ratio of 0.11. The stock has a 50-day simple moving average of $47.32 and a 200-day simple moving average of $39.62. The firm has a market capitalization of $1.88 billion, a PE ratio of 9.58 and a beta of 1.05.
Banner (NASDAQ:BANR - Get Rating) last released its earnings results 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 return on equity of 12.47% and a net margin of 32.46%. During the same period in the prior year, the company earned $1.33 earnings per share. Equities analysts forecast that Banner Co. will post 4.78 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 13th. Stockholders of record on Tuesday, May 3rd will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Monday, May 2nd. Banner's dividend payout ratio (DPR) is presently 30.82%.
Banner Company Profile (NASDAQ:BANR)
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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