All the brokerage firms and banks that we follow here at 24/7 Wall St. keep a list for their institutional and retail clients of high-conviction stock picks. These are generally the companies they not only like on a longer term basis but usually those stocks with big upside to the assigned target price. With October almost over and the final quarter of 2021 rolling along, many firms on Wall Street have tweaked their lists to account for potential changes the rest of the year.
The analysts at Raymond James who contribute to the firm’s well-respected Analysts Current Favorites list of stocks to buy have to provide one stock in their coverage space for inclusion in the list, and hence it is considered the favorite choice.
We screened the list looking for stocks that are not overextended or overbought and also pay solid and dependable dividends. We found four that look like very good ideas for growth and income investors looking to reset portfolios for the rest of the year. It is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
This is a more off-the-radar western U.S. bank that offers outstanding total return potential. Banner Corp. (NASDAQ: BANR) operates as the bank holding company for Banner Bank, which provides 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.
The company also provides commercial real estate loans, including owner-occupied, investment properties and multifamily residential real estate loans; construction, land and land development loans; residential mortgage loans; commercial business loans; agricultural loans; and consumer and other loans, such as home equity lines of credit, automobile, and boat and recreational vehicle loans, as well as loans secured by deposit accounts.
As of December 31, 2020, it operated 155 branch offices, including 152 Banner Bank branches and three Islanders Bank branches, all located in Washington, Oregon, California and Idaho. It also operates 18 Banner Bank loan production offices located in those same four states. The company was founded in 1890 and is headquartered in Walla Walla, Washington.
Shareholders receive a solid 2.75% dividend. Raymond James has a $63 price target on the shares, which compares with the lower $60.40 consensus and Thursday’s closing print of $59.53.