Banner (NASDAQ:BANR) Price Target Raised to $76.00 at DA Davidson

Banner (NASDAQ:BANR) had its target price upped by analysts at DA Davidson from $73.00 to $76.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price objective would indicate a potential upside of 8.60% from the stock’s current price.

BANR has been the topic of several other research reports. Raymond James upped their target price on Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods increased their price target on Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Stephens reiterated an “overweight” rating and issued a $82.00 price objective on shares of Banner in a research note on Thursday. Finally, Piper Sandler set a $67.00 target price on shares of Banner in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $74.20.

Banner Stock Performance

NASDAQ:BANR opened at $69.98 on Friday. The company has a market capitalization of $2.41 billion, a PE ratio of 14.40 and a beta of 1.09. Banner has a fifty-two week low of $42.00 and a fifty-two week high of $78.05. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.84 and a current ratio of 0.85. The company has a 50 day simple moving average of $70.36 and a two-hundred day simple moving average of $63.60.

Banner (NASDAQ:BANR) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.11. Banner had a net margin of 20.28% and a return on equity of 10.11%. Research analysts anticipate that Banner will post 4.89 earnings per share for the current year.

Insider Activity at Banner

In related news, VP James P.G. Mclean sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.63, for a total transaction of $113,445.00. Following the transaction, the vice president now directly owns 21,868 shares of the company’s stock, valued at $1,653,876.84. This trade represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Banner

A number of institutional investors have recently added to or reduced their stakes in BANR. Renaissance Technologies LLC increased its position in shares of Banner by 223.1% during the 2nd quarter. Renaissance Technologies LLC now owns 54,599 shares of the financial services provider’s stock valued at $2,710,000 after purchasing an additional 37,700 shares during the last quarter. Intech Investment Management LLC bought a new position in Banner during the second quarter valued at about $394,000. Public Sector Pension Investment Board increased its holdings in Banner by 7.6% during the second quarter. Public Sector Pension Investment Board now owns 75,787 shares of the financial services provider’s stock worth $3,762,000 after buying an additional 5,378 shares during the last quarter. AQR Capital Management LLC raised its position in Banner by 113.8% in the second quarter. AQR Capital Management LLC now owns 71,915 shares of the financial services provider’s stock worth $3,570,000 after acquiring an additional 38,273 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Banner by 18.4% in the second quarter. The Manufacturers Life Insurance Company now owns 795,929 shares of the financial services provider’s stock valued at $39,510,000 after acquiring an additional 123,903 shares during the last quarter. 87.33% of the stock is owned by institutional investors.

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.