Banner (NASDAQ:BANR) Stock Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Banner shares rose above their 200-day moving average, trading near $70.82 versus the $65.90 average. However, analysts maintain a consensus “Hold” rating, with an average price target of $72.75.
• Banner’s latest quarterly results slightly missed expectations, reporting $1.44 in earnings per share versus the $1.46 consensus and revenue of $172.11 million compared with $174.54 million expected.
• The company pays a quarterly dividend of $0.52 per share, representing a 2.9% yield and a 34.32% payout ratio; institutional investors own 87.33% of the stock.

Banner Corporation (NASDAQ:BANR - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $65.90 and traded as high as $70.87. Banner shares last traded at $70.82, with a volume of 270,186 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Benchmark started coverage on Banner in a report on Wednesday, July 8th. They set a "hold" rating for the company. Keefe, Bruyette & Woods boosted their target price on shares of Banner from $75.00 to $78.00 and gave the stock a "market perform" rating in a report on Monday, July 27th. DA Davidson boosted their price target on Banner from $72.00 to $76.00 and gave the stock a "neutral" rating in a research report on Monday, July 27th. Wall Street Zen lowered shares of Banner from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Finally, Weiss Ratings upgraded Banner from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $72.75.

Banner Trading Up 0.6%

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 market capitalization of $2.41 billion, a price-to-earnings ratio of 11.69 and a beta of 0.82. The firm's 50-day simple moving average is $70.40 and its 200 day simple moving average is $65.90.

Banner (NASDAQ:BANR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.02). The business had revenue of $172.11 million for 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%. Equities analysts expect that Banner Corporation will post 6.18 earnings per share for the current year.

Banner Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its position in shares of Banner by 6,369.3% during the second quarter. California State Teachers Retirement System now owns 2,630,426 shares of the financial services provider's stock worth $174,766,000 after acquiring an additional 2,589,766 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Banner during the 2nd quarter valued at $20,508,000. North Reef Capital Management LP acquired a new position in shares of Banner during the first quarter valued at about $11,860,000. The Manufacturers Life Insurance Company raised its stake in Banner by 19.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,011,347 shares of the financial services provider's stock worth $64,878,000 after buying an additional 165,557 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Banner by 60.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 366,689 shares of the financial services provider's stock worth $22,977,000 after purchasing an additional 138,525 shares during the period. Institutional investors own 87.33% of the company's stock.

Banner Company Profile

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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