Banner (NASDAQ:BANR) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Banner Corporation (NASDAQ:BANR) saw unusually-high trading volume on Friday . Approximately 370,096 shares changed hands during trading, an increase of 25% from the previous session’s volume of 295,674 shares.The stock last traded at $66.4010 and had previously closed at $66.91.

Analyst Upgrades and Downgrades

BANR has been the subject of several analyst reports. Weiss Ratings raised shares of Banner from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. Piper Sandler raised their price target on shares of Banner from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Finally, Wall Street Zen raised shares of Banner from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Banner presently has a consensus rating of “Hold” and an average price target of $70.00.

Banner Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.85. The company’s 50-day moving average price is $61.87 and its two-hundred day moving average price is $62.89. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 11.09 and a beta of 0.85.

Banner (NASDAQ:BANR) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.21. Banner had a net margin of 23.24% and a return on equity of 10.77%. The company had revenue of $168.91 million during the quarter, compared to analysts’ expectations of $169.60 million. On average, equities research analysts anticipate that Banner Corporation will post 6.23 EPS for the current fiscal year.

Banner Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. This is a boost from Banner’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, May 5th. Banner’s dividend payout ratio is currently 33.67%.

Institutional Investors Weigh In On Banner

Large investors have recently modified their holdings of the company. Financial Life Planners acquired a new stake in shares of Banner during the first quarter worth $30,000. Kemnay Advisory Services Inc. acquired a new stake in Banner in the fourth quarter worth $31,000. Aquatic Capital Management LLC acquired a new stake in Banner in the third quarter worth $36,000. EverSource Wealth Advisors LLC acquired a new stake in Banner in the second quarter worth $45,000. Finally, Lodestone Wealth Management LLC acquired a new stake in Banner in the fourth quarter worth $66,000. 87.33% of the stock is currently owned by institutional investors and hedge funds.

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.