Banner (NASDAQ:BANR) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Banner (NASDAQ:BANRGet Free Report) posted its quarterly earnings data on Wednesday. The financial services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.46 by $0.09, Zacks reports. The firm had revenue of $169.90 million for the quarter, compared to the consensus estimate of $173.23 million. Banner had a return on equity of 10.32% and a net margin of 21.80%.

Banner Price Performance

BANR stock opened at $66.03 on Thursday. The stock has a market cap of $2.25 billion, a PE ratio of 12.03 and a beta of 0.91. Banner has a 12 month low of $54.01 and a 12 month high of $72.58. The company has a 50-day moving average price of $64.10 and a 200 day moving average price of $64.40. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16.

Banner Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Tuesday, February 3rd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, February 3rd. Banner’s dividend payout ratio (DPR) is 36.43%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Weiss Ratings downgraded Banner from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. Raymond James Financial reissued an “outperform” rating and issued a $70.00 price target (down from $72.00) on shares of Banner in a report on Friday, October 17th. Keefe, Bruyette & Woods increased their price objective on shares of Banner from $73.00 to $74.00 and gave the company a “market perform” rating in a report on Friday, October 17th. Piper Sandler reiterated a “neutral” rating and set a $70.00 price objective on shares of Banner in a research report on Monday, December 1st. Finally, DA Davidson dropped their target price on shares of Banner from $73.00 to $69.00 and set a “neutral” rating for the company in a research report on Friday, October 17th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Banner currently has a consensus rating of “Hold” and an average price target of $71.17.

Get Our Latest Stock Analysis on Banner

Institutional Trading of Banner

Institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its stake in shares of Banner by 19.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,011,347 shares of the financial services provider’s stock valued at $64,878,000 after buying an additional 165,557 shares during the last quarter. Basswood Capital Management L.L.C. boosted its holdings in Banner by 29.9% during the 2nd quarter. Basswood Capital Management L.L.C. now owns 351,638 shares of the financial services provider’s stock valued at $22,558,000 after acquiring an additional 80,877 shares during the period. Millennium Management LLC boosted its holdings in Banner by 33.2% during the 3rd quarter. Millennium Management LLC now owns 340,215 shares of the financial services provider’s stock valued at $22,284,000 after acquiring an additional 84,805 shares during the period. Invesco Ltd. grew its position in Banner by 20.7% in the 2nd quarter. Invesco Ltd. now owns 300,882 shares of the financial services provider’s stock valued at $19,302,000 after acquiring an additional 51,584 shares during the last quarter. Finally, Raymond James Financial Inc. increased its stake in Banner by 50.9% in the third quarter. Raymond James Financial Inc. now owns 295,621 shares of the financial services provider’s stock worth $19,363,000 after purchasing an additional 99,708 shares during the period. Institutional investors own 87.33% of the company’s stock.

Key Stories Impacting Banner

Here are the key news stories impacting Banner this week:

About Banner

(Get Free Report)

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.

See Also

Earnings History for Banner (NASDAQ:BANR)

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