Banner (NASDAQ:BANR) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Banner Corporation (NASDAQ:BANR) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $63.68 and traded as high as $68.42. Banner shares last traded at $67.94, with a volume of 190,623 shares traded.

Analysts Set New Price Targets

BANR has been the subject of several research analyst reports. Piper Sandler lifted their price objective on Banner from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Weiss Ratings upgraded Banner from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Wall Street Zen raised Banner from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Keefe, Bruyette & Woods upped 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, DA Davidson reissued a “neutral” rating and set a $72.00 price objective on shares of Banner in a report on Monday, May 4th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Banner currently has a consensus rating of “Hold” and an average price target of $71.00.

Banner Price Performance

The stock has a 50-day simple moving average of $65.27 and a 200 day simple moving average of $63.71. The stock has a market capitalization of $2.30 billion, a P/E ratio of 11.41 and a beta of 0.83. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.86.

Banner (NASDAQ:BANR) last issued its quarterly 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. The business had revenue of $168.91 million for the quarter, compared to analyst estimates of $169.60 million. Banner had a return on equity of 10.77% and a net margin of 23.24%. On average, equities analysts forecast that Banner Corporation will post 6.12 earnings per share for the current fiscal year.

Banner Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were paid a $0.52 dividend. This is a boost from Banner’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $2.08 annualized dividend and a dividend yield of 3.1%. Banner’s payout ratio is 35.02%.

Hedge Funds Weigh In On Banner

Large investors have recently bought and sold shares of the business. Financial Life Planners acquired a new stake in Banner during the 3rd quarter worth $32,000. Kemnay Advisory Services Inc. bought a new position in shares of Banner in the 4th quarter worth $31,000. Aquatic Capital Management LLC acquired a new stake in shares of Banner during the third quarter worth $36,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Banner during the second quarter worth $45,000. Finally, Lodestone Wealth Management LLC bought a new stake in Banner in the fourth quarter valued at about $66,000. 87.33% of the stock is currently owned by institutional investors and hedge funds.

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.