Banner (NASDAQ:BANR) Hits New 52-Week High – Here’s Why

Banner Corporation (NASDAQ:BANR)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $74.31 and last traded at $73.9950, with a volume of 246312 shares traded. The stock had previously closed at $74.01.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. DA Davidson lifted their price target on shares of Banner from $72.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Wall Street Zen lowered Banner from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Benchmark started coverage on Banner in a research note on Wednesday, July 8th. They set a “hold” rating on the stock. Piper Sandler upped their target price on Banner from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Finally, Keefe, Bruyette & Woods increased their target price on Banner from $75.00 to $78.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Banner presently has an average rating of “Hold” and a consensus target price of $72.75.

Banner Trading Down 0.5%

The firm’s 50-day simple moving average is $68.71 and its 200 day simple moving average is $64.94. 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 $2.50 billion, a price-to-earnings ratio of 12.21 and a beta of 0.83.

Banner (NASDAQ:BANR) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.02). Banner had a net margin of 23.55% and a return on equity of 10.72%. The business had revenue of $172.11 million during the quarter, compared to the consensus estimate of $174.54 million. Equities analysts expect that Banner Corporation will post 6.2 earnings per share for the current year.

Banner Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Tuesday, August 4th were given a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.8%. Banner’s dividend payout ratio (DPR) is 34.32%.

Institutional Investors Weigh In On Banner

Hedge funds have recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new position in Banner in the 4th quarter valued at about $31,000. Financial Life Planners purchased a new stake in shares of Banner in the first quarter worth approximately $30,000. Aquatic Capital Management LLC purchased a new stake in shares of Banner in the third quarter worth approximately $36,000. EverSource Wealth Advisors LLC bought a new position in shares of Banner in the second quarter valued at approximately $45,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Banner by 31.5% in the second quarter. Versant Capital Management Inc now owns 714 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 171 shares in the last quarter. Institutional investors and hedge funds own 87.33% of the company’s stock.

About Banner

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.