Banner (NASDAQ:BANR) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Banner Co. (NASDAQ:BANR)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $62.08 and traded as high as $67.28. Banner shares last traded at $66.69, with a volume of 274,661 shares.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BANR shares. DA Davidson boosted their target price on shares of Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods upped their target price on shares of Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler set a $67.00 price objective on shares of Banner in a report on Thursday, October 17th. Finally, Raymond James raised their price target on Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. One 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $67.00.

Banner Stock Up 0.2 %

The company has a 50 day simple moving average of $70.68 and a two-hundred day simple moving average of $62.11. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $2.30 billion, a P/E ratio of 13.98 and a beta of 1.09.

Banner (NASDAQ:BANR) last released its quarterly 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 company had revenue of $213.90 million during the quarter, compared to analyst estimates of $152.95 million. During the same quarter last year, the business posted $1.43 earnings per share. On average, equities analysts predict that Banner Co. will post 4.88 EPS for the current fiscal year.

Banner Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a $0.48 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $1.92 dividend on an annualized basis and a yield of 2.87%. Banner’s dividend payout ratio is currently 40.17%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Banner

Hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE increased its holdings in Banner by 287.1% in the 3rd quarter. US Bancorp DE now owns 1,436 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 1,065 shares in the last quarter. CWM LLC increased its holdings in shares of Banner by 19.5% during the 3rd quarter. CWM LLC now owns 2,275 shares of the financial services provider’s stock worth $136,000 after buying an additional 371 shares during the last quarter. Quest Partners LLC purchased a new stake in Banner in the 2nd quarter valued at about $152,000. Clear Creek Financial Management LLC acquired a new position in Banner during the third quarter worth $209,000. Finally, Princeton Capital Management LLC purchased a new position in shares of Banner in the third quarter valued at approximately $255,000. Institutional investors and hedge funds own 87.33% of the company’s stock.

About Banner

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.