Banner (NASDAQ:BANR) Posts Earnings Results, Beats Estimates By $0.21 EPS

Banner (NASDAQ:BANRGet Free Report) issued its quarterly earnings results on Wednesday. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21, Zacks reports. The business had revenue of $168.91 million for the quarter, compared to the consensus estimate of $169.60 million. Banner had a return on equity of 10.86% and a net margin of 23.24%.

Banner Price Performance

Shares of BANR opened at $67.76 on Friday. The firm has a market capitalization of $2.30 billion, a PE ratio of 11.41 and a beta of 0.85. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86. Banner has a 1-year low of $57.05 and a 1-year high of $69.83. The company’s fifty day moving average price is $61.60 and its 200-day moving average price is $62.74.

Banner Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Banner’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, May 5th. Banner’s dividend payout ratio is presently 35.46%.

Institutional Investors Weigh In On Banner

Large investors have recently made changes to their positions in the stock. EntryPoint Capital LLC purchased a new stake in shares of Banner during the fourth quarter valued at $325,000. WINTON GROUP Ltd purchased a new stake in shares of Banner during the second quarter valued at $317,000. Balyasny Asset Management L.P. grew its holdings in shares of Banner by 8.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 4,909 shares of the financial services provider’s stock valued at $308,000 after buying an additional 386 shares during the last quarter. Entropy Technologies LP purchased a new stake in shares of Banner during the fourth quarter valued at $289,000. Finally, Man Group plc purchased a new stake in shares of Banner during the fourth quarter valued at $284,000. 87.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BANR shares. Wall Street Zen raised Banner from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Piper Sandler reduced their price target on Banner from $67.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. Finally, Weiss Ratings raised Banner from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $69.00.

Check Out Our Latest Analysis on BANR

Key Headlines Impacting Banner

Here are the key news stories impacting Banner this week:

Banner Company Profile

(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.

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Earnings History for Banner (NASDAQ:BANR)

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