Banner Corporation (NASDAQ:BANR – Get Free Report) has earned an average recommendation of “Hold” from the five research firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $71.00.
A number of analysts have recently issued reports on BANR shares. Piper Sandler increased their price target on shares of Banner from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Wall Street Zen raised shares of Banner from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. DA Davidson reissued a “neutral” rating and issued a $72.00 price target on shares of Banner in a research report on Monday, May 4th. Keefe, Bruyette & Woods increased their price target on shares of Banner from $73.00 to $75.00 and gave the stock a “market perform” rating in a research report on Monday, May 18th. Finally, Weiss Ratings raised shares of Banner from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th.
Read Our Latest Stock Analysis on BANR
Banner Price Performance
Banner (NASDAQ:BANR – Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. The business had revenue of $168.91 million during the quarter, compared to analyst estimates of $169.60 million. Banner had a net margin of 23.24% and a return on equity of 10.77%. Equities research analysts predict that Banner will post 6.12 earnings per share for the current fiscal year.
Banner Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. This is a positive change from Banner’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, May 5th. Banner’s payout ratio is currently 35.02%.
Hedge Funds Weigh In On Banner
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Banner by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,837,199 shares of the financial services provider’s stock valued at $240,439,000 after acquiring an additional 44,249 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Banner by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,177,070 shares of the financial services provider’s stock valued at $132,104,000 after acquiring an additional 18,077 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Banner by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,448,700 shares of the financial services provider’s stock valued at $90,776,000 after acquiring an additional 6,835 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Banner by 19.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,011,347 shares of the financial services provider’s stock valued at $64,878,000 after acquiring an additional 165,557 shares in the last quarter. Finally, Nuveen LLC raised its position in Banner by 17.9% during the fourth quarter. Nuveen LLC now owns 749,083 shares of the financial services provider’s stock valued at $46,938,000 after acquiring an additional 113,632 shares in the last quarter. Institutional investors 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.
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