Stephens Reiterates Overweight Rating for Banner (NASDAQ:BANR)

Banner (NASDAQ:BANR)‘s stock had its “overweight” rating restated by stock analysts at Stephens in a research note issued to investors on Thursday,Benzinga reports. They currently have a $82.00 target price on the financial services provider’s stock. Stephens’ price target suggests a potential upside of 15.11% from the stock’s current price.

BANR has been the subject of several other research reports. Raymond James lifted their price target on shares of Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. DA Davidson lifted their price objective on Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Piper Sandler set a $67.00 target price on shares of Banner in a report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods raised their price objective 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $72.80.

Banner Stock Up 1.5 %

NASDAQ:BANR traded up $1.07 during mid-day trading on Thursday, reaching $71.24. The stock had a trading volume of 59,341 shares, compared to its average volume of 238,732. The business’s 50 day moving average is $70.42 and its 200 day moving average is $63.56. Banner has a fifty-two week low of $42.00 and a fifty-two week high of $78.05. The stock has a market cap of $2.45 billion, a P/E ratio of 14.97 and a beta of 1.09. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.84.

Banner (NASDAQ:BANR) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.11. Banner had a return on equity of 10.22% and a net margin of 20.28%. As a group, sell-side analysts predict that Banner will post 4.9 earnings per share for the current year.

Insider Buying and Selling

In other Banner news, VP James P.G. Mclean sold 1,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 21,868 shares in the company, valued at $1,653,876.84. This represents a 6.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Banner

A number of institutional investors and hedge funds have recently modified their holdings of the stock. USA Financial Formulas bought a new stake in Banner during the 4th quarter valued at about $32,000. US Bancorp DE boosted its holdings 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 buying an additional 1,065 shares in the last quarter. KBC Group NV grew its position in shares of Banner by 46.0% in the 4th quarter. KBC Group NV now owns 1,656 shares of the financial services provider’s stock worth $111,000 after buying an additional 522 shares during the last quarter. CWM LLC boosted its stake in Banner by 19.5% in the third quarter. CWM LLC now owns 2,275 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 371 shares in the last quarter. Finally, Clear Creek Financial Management LLC purchased a new position in Banner in the third quarter worth $209,000. Hedge funds and other institutional investors 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.