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

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

Wall Street Analyst Weigh In

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

Banner Stock Performance

The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 15.79 and a beta of 1.04. The stock’s 50-day simple moving average is $65.08 and its 200 day simple moving average is $56.66.

Banner (NASDAQ:BANR) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.18 by $0.12. Banner had a return on equity of 10.22% and a net margin of 20.28%. The business had revenue of $213.90 million for the quarter, compared to the consensus estimate of $152.95 million. During the same period in the previous year, the business earned $1.43 EPS. Analysts expect that Banner Co. will post 4.88 earnings per share for the current fiscal year.

Banner Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a $0.48 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.50%. Banner’s dividend payout ratio is 40.17%.

Insider Buying and Selling

In other Banner news, VP James P.G. Mclean sold 1,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.63, for a total transaction of $113,445.00. Following the completion of the sale, the vice president now directly owns 21,868 shares of the company’s stock, valued at approximately $1,653,876.84. The trade was a 6.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Banner

Institutional investors have recently modified their holdings of the business. EntryPoint Capital LLC increased its holdings in Banner by 100.9% in the first quarter. EntryPoint Capital LLC now owns 1,111 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 558 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of Banner in the 2nd quarter valued at about $53,000. US Bancorp DE raised its position in shares of Banner by 287.1% in the 3rd quarter. US Bancorp DE now owns 1,436 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 1,065 shares during the period. CWM LLC boosted its stake in Banner by 60.1% during the 2nd quarter. CWM LLC now owns 1,904 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 715 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in Banner during the second quarter valued at approximately $152,000. Institutional investors and hedge funds own 87.33% of the company’s stock.

Banner Company Profile

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.