Banner (NASDAQ:BANR) Reaches New 1-Year High – Still a Buy?

Banner Corporation (NASDAQ:BANR)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $72.79 and last traded at $72.80, with a volume of 123599 shares traded. The stock had previously closed at $71.41.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Banner from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Benchmark initiated coverage on Banner in a report on Wednesday, July 8th. They issued a “hold” rating for the company. Wall Street Zen cut Banner from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. DA Davidson raised their price target on Banner from $72.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Finally, Piper Sandler lifted their price target on shares of Banner from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $72.75.

Banner Price Performance

The business has a fifty day simple moving average of $68.34 and a two-hundred day simple moving average of $64.76. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The stock has a market cap of $2.50 billion, a PE ratio of 12.12 and a beta of 0.83.

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

Banner Announces Dividend

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

Institutional Trading of Banner

Hedge funds and other institutional investors have recently modified their holdings of the business. Great Lakes Advisors LLC bought a new position in shares of Banner in the 2nd quarter worth about $264,000. Bank of New York Mellon Corp bought a new stake in Banner during the second quarter worth about $20,508,000. Versant Capital Management Inc boosted its stake in Banner by 31.5% during the second quarter. Versant Capital Management Inc now owns 714 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 171 shares in the last quarter. Empowered Funds LLC grew its holdings in Banner by 1.8% in the first quarter. Empowered Funds LLC now owns 146,837 shares of the financial services provider’s stock worth $8,910,000 after purchasing an additional 2,611 shares during the period. Finally, Bank of America Corp DE grew its holdings in Banner by 25.4% in the first quarter. Bank of America Corp DE now owns 171,439 shares of the financial services provider’s stock worth $10,403,000 after purchasing an additional 34,679 shares during the period. 87.33% of the stock is owned by hedge funds and other institutional investors.

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.