Banner (NASDAQ:BANR) Sets New 1-Year High – Here’s Why

Banner Corporation (NASDAQ:BANR) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $69.85 and last traded at $69.48, with a volume of 4571 shares. The stock had previously closed at $68.57.

Analyst Upgrades and Downgrades

BANR has been the topic of several research reports. Keefe, Bruyette & Woods upped their target price on Banner from $73.00 to $75.00 and gave the company a “market perform” rating in a report on Monday, May 18th. Piper Sandler lifted their price target on Banner from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Benchmark assumed coverage on shares of Banner in a research report on Wednesday, July 8th. They issued a “hold” rating on the stock. DA Davidson reissued a “neutral” rating and issued a $72.00 price objective on shares of Banner in a research note on Monday, May 4th. Finally, Weiss Ratings upgraded shares of Banner from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $71.00.

Banner Trading Up 3.7%

The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average of $65.90 and a 200-day moving average of $63.89. The stock has a market cap of $2.46 billion, a PE ratio of 12.19 and a beta of 0.83.

Banner (NASDAQ:BANR) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. The firm had revenue of $168.91 million for the quarter, compared to analysts’ expectations of $169.60 million. Banner had a return on equity of 10.77% and a net margin of 23.24%. On average, analysts anticipate that Banner Corporation will post 6.12 EPS for the current year.

Banner Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.9%. This is a boost from Banner’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, May 5th. Banner’s dividend payout ratio (DPR) is currently 35.02%.

Hedge Funds Weigh In On Banner

Large investors have recently bought and sold shares of the stock. Kemnay Advisory Services Inc. purchased a new stake in shares of Banner during the 4th quarter valued at $31,000. Financial Life Planners purchased a new position in shares of Banner in the 1st quarter worth $30,000. Aquatic Capital Management LLC purchased a new position in shares of Banner in the 3rd quarter worth $36,000. EverSource Wealth Advisors LLC purchased a new position in shares of Banner in the 2nd quarter worth $45,000. Finally, Versant Capital Management Inc boosted its holdings in 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 acquiring an additional 171 shares during the last quarter. Hedge funds and other 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.