Banner (NASDAQ:BANR) Shares Pass Above 200-Day Moving Average - Here's Why

Key Points

• Banner shares moved above their 200-day moving average, reaching $70.95 and closing near $70.73 versus the $66.32 long-term average.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and a $74.50 target price, although recent ratings range from Buy and Hold to Sell.
• Banner’s latest quarterly results slightly missed expectations, with earnings of $1.44 per share and revenue of $172.11 million; the company also maintains a quarterly dividend of $0.52, yielding about 2.9% annually.

Shares of Banner Corporation (NASDAQ:BANR - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $66.32 and traded as high as $70.95. Banner shares last traded at $70.73, with a volume of 537,321 shares traded.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of Banner from $75.00 to $78.00 and gave the company a "market perform" rating in a report on Monday, July 27th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Banner in a research note on Monday. Piper Sandler reiterated an "overweight" rating and set a $74.00 price objective on shares of Banner in a research report on Monday. Wall Street Zen cut shares of Banner from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. Finally, Benchmark started coverage on shares of Banner in a research note on Wednesday, July 8th. They issued a "hold" rating for the company. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Banner currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.50.

Banner Stock Performance

The firm has a market capitalization of $2.40 billion, a P/E ratio of 11.67 and a beta of 0.82. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a 50-day moving average price of $70.91 and a two-hundred day moving average price of $66.32.

Banner (NASDAQ:BANR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.44 EPS for the quarter, missing analysts' consensus estimates of $1.46 by ($0.02). The company had revenue of $172.11 million during the quarter, compared to the consensus estimate of $174.54 million. Banner had a return on equity of 10.72% and a net margin of 23.55%. On average, analysts forecast that Banner Corporation will post 6.19 EPS for the current fiscal year.

Banner Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Tuesday, August 4th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Tuesday, August 4th. Banner's dividend payout ratio is currently 34.32%.

Institutional Trading of Banner

Institutional investors and hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new stake in shares of Banner during the second quarter valued at approximately $76,000. Allworth Financial LP increased its holdings in Banner by 342.4% during the 2nd quarter. Allworth Financial LP now owns 845 shares of the financial services provider's stock worth $56,000 after purchasing an additional 654 shares during the period. Nykredit A S purchased a new position in Banner during the 2nd quarter worth $28,000. Corient Private Wealth LP purchased a new position in Banner during the 2nd quarter worth $232,000. Finally, iSAM Funds UK Ltd bought a new stake in Banner during the 2nd quarter valued at $213,000. Institutional investors own 87.33% of the company's stock.

Banner Company Profile

Banner Corporation NASDAQ: BANR is a bank holding company headquartered in Walla Walla, Washington. Through its principal subsidiary, Banner Bank, the company provides a range of banking and financial services to individuals, families, businesses and community organizations.

Banner Bank offers deposit products, residential and commercial real estate lending, construction and land development loans, commercial business financing, consumer loans and agricultural lending. Its services also include treasury management, online and mobile banking, cash management, wealth management and other financial solutions designed for business and personal customers.

The company serves communities primarily across the Pacific Northwest and other western markets through a network of branches and digital banking channels.

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