Banner (NASDAQ:BANR) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Banner Co. (NASDAQ:BANR)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $62.08 and traded as high as $67.28. Banner shares last traded at $66.69, with a volume of 274,661 shares.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BANR shares. Keefe, Bruyette & Woods upped their target price on shares of Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. DA Davidson upped their target price on shares of Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Raymond James lifted their price objective on Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler set a $67.00 target price on shares of Banner in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Banner presently has an average rating of “Hold” and a consensus price target of $67.00.

Banner Price Performance

The company has a fifty day simple moving average of $70.68 and a two-hundred day simple moving average of $62.11. 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 market capitalization of $2.30 billion, a price-to-earnings ratio of 13.98 and a beta of 1.09.

Banner (NASDAQ:BANR) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.12. Banner had a net margin of 20.28% and a return on equity of 10.22%. The business had revenue of $213.90 million during the quarter, compared to analyst estimates of $152.95 million. During the same period last year, the business earned $1.43 EPS. As a group, research analysts anticipate that Banner Co. will post 4.88 earnings per share for the current year.

Banner Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Tuesday, November 5th. Banner’s payout ratio is currently 40.17%.

Insiders Place Their Bets

In other news, VP James P.G. Mclean sold 1,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $75.63, for a total value of $113,445.00. Following the completion of the transaction, the vice president now directly owns 21,868 shares of the company’s stock, valued at approximately $1,653,876.84. This represents a 6.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Banner

Several institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE increased its stake in shares of Banner by 287.1% during the third quarter. US Bancorp DE now owns 1,436 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 1,065 shares during the period. CWM LLC boosted its position in Banner by 19.5% during the 3rd quarter. CWM LLC now owns 2,275 shares of the financial services provider’s stock worth $136,000 after buying an additional 371 shares during the period. Quest Partners LLC bought a new stake in shares of Banner in the second quarter worth $152,000. Clear Creek Financial Management LLC acquired a new position in shares of Banner in the third quarter worth approximately $209,000. Finally, Princeton Capital Management LLC acquired a new stake in shares of Banner during the third quarter worth $255,000. Institutional investors own 87.33% of the company’s stock.

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.