Banner (NASDAQ:BANR) Sees Unusually-High Trading Volume – Time to Buy?

Banner Corporation (NASDAQ:BANR) shares saw an uptick in trading volume on Friday . 515,230 shares changed hands during trading, an increase of 80% from the previous session’s volume of 287,016 shares.The stock last traded at $67.33 and had previously closed at $66.85.

Wall Street Analyst Weigh In

BANR has been the topic of several recent research reports. Benchmark initiated coverage on shares of Banner in a report on Wednesday. They issued a “hold” rating on the stock. DA Davidson reissued a “neutral” rating and issued a $72.00 price objective on shares of Banner in a report on Monday, May 4th. Keefe, Bruyette & Woods upped their target price on Banner from $73.00 to $75.00 and gave the stock a “market perform” rating in a research note on Monday, May 18th. Weiss Ratings upgraded Banner from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Finally, Piper Sandler raised their target price on Banner from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $71.00.

Banner Stock Performance

The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The stock’s fifty day simple moving average is $65.55 and its 200 day simple moving average is $63.74. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 11.36 and a beta of 0.83.

Banner (NASDAQ:BANR) last issued its earnings results on Wednesday, April 22nd. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.21. Banner had a return on equity of 10.77% and a net margin of 23.24%.The company had revenue of $168.91 million during the quarter, compared to analysts’ expectations of $169.60 million. As a group, analysts anticipate that Banner Corporation will post 6.12 earnings per share for the current year.

Banner Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were issued a dividend of $0.52 per share. The ex-dividend date was Tuesday, May 5th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Banner’s previous quarterly dividend of $0.50. Banner’s dividend payout ratio (DPR) is currently 35.02%.

Institutional Trading of Banner

Several institutional investors and hedge funds have recently bought and sold shares of BANR. Financial Life Planners acquired a new stake in shares of Banner during the first quarter valued at about $30,000. Kemnay Advisory Services Inc. acquired a new position in shares of Banner in the 4th quarter worth approximately $31,000. Aquatic Capital Management LLC purchased a new position in shares of Banner during the 3rd quarter worth approximately $36,000. EverSource Wealth Advisors LLC acquired a new stake in Banner in the 2nd quarter valued at approximately $45,000. Finally, Versant Capital Management Inc increased its holdings in Banner by 31.5% in the 2nd quarter. Versant Capital Management Inc now owns 714 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 171 shares during the last quarter. 87.33% of the stock is currently 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.