Banner (NASDAQ:BANR) Hits New 52-Week High at $55.04

Posted by on Jun 21st, 2022

Banner Co. (NASDAQ:BANR – Get Rating) hit a new 52-week high during trading on Tuesday . The stock traded as high as $55.04 and last traded at $55.04, with a volume of 171 shares. The stock had previously closed at $54.07.

Several research analysts recently commented on BANR shares. StockNews.com started coverage on shares of Banner in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Stephens raised shares of Banner from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $66.00 to $67.00 in a research note on Friday. Finally, Raymond James reduced their price objective on shares of Banner from $72.00 to $70.00 and set a “strong-buy” rating on the stock in a research report on Friday, April 22nd.

The stock has a market cap of $1.91 billion, a PE ratio of 9.47 and a beta of 1.03. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.77 and a current ratio of 0.78. The company’s 50-day moving average price is $56.11 and its 200 day moving average price is $50.18.

Banner (NASDAQ:BANR – Get Rating) last released its quarterly earnings results on Wednesday, April 20th. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.09 by $0.24. Banner had a net margin of 32.46% and a return on equity of 12.47%. The firm had revenue of $138.08 million during the quarter, compared to analyst estimates of $136.20 million. During the same quarter in the prior year, the firm earned $1.33 EPS. On average, sell-side analysts anticipate that Banner Co. will post 5.21 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Tuesday, May 3rd were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.17%. The ex-dividend date was Monday, May 2nd. Banner’s payout ratio is currently 30.82%.

In other news, Director Roberto R. Herencia bought 1,800 shares of Banner stock in a transaction that occurred on Monday, May 2nd. The stock was bought at an average cost of $54.73 per share, with a total value of $98,514.00. Following the acquisition, the director now owns 8,628 shares of the company’s stock, valued at approximately $472,210.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.46% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC grew its holdings in Banner by 59.8% during the 4th quarter. ProShare Advisors LLC now owns 8,526 shares of the financial services provider’s stock valued at $518,000 after buying an additional 3,192 shares in the last quarter. Yousif Capital Management LLC bought a new stake in Banner in the fourth quarter worth $1,925,000. Raymond James Financial Services Advisors Inc. lifted its position in Banner by 4.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 76,890 shares of the financial services provider’s stock worth $4,665,000 after buying an additional 3,292 shares during the last quarter. Weiss Multi Strategy Advisers LLC lifted its position in Banner by 10.1% in the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 125,611 shares of the financial services provider’s stock worth $7,621,000 after buying an additional 11,540 shares during the last quarter. Finally, Saba Capital Management L.P. bought a new stake in Banner in the fourth quarter worth $7,438,000. 85.00% of the stock is owned by institutional investors and hedge funds.

About Banner (NASDAQ:BANR)

Banner Corporation operates as the bank holding company for Banner Bank that provide 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.

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