Banner (NASDAQ:BANR) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Banner (NASDAQ:BANR) issued its earnings results on Wednesday. The financial services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10, Zacks reports. The company had revenue of $179.07 million during the quarter, compared to the consensus estimate of $184.24 million. Banner had a return on equity of 10.72% and a net margin of 23.55%.

Banner Trading Down 0.2%

Shares of BANR stock opened at $68.05 on Thursday. The firm has a 50 day moving average price of $69.51 and a two-hundred day moving average price of $67.63. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $2.31 billion, a PE ratio of 11.23 and a beta of 0.83. Banner has a 12-month low of $57.05 and a 12-month high of $74.84.

Banner Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Thursday, November 5th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, November 5th. This represents a $2.08 annualized dividend and a yield of 3.1%. Banner’s dividend payout ratio (DPR) is 34.32%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BANR. Wall Street Zen cut Banner from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Banner in a report on Monday, September 14th. Keefe, Bruyette & Woods lifted their price objective on shares of Banner from $75.00 to $78.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Piper Sandler reduced their price objective on shares of Banner from $74.00 to $71.00 and set a “neutral” rating for the company in a research report on Thursday, October 1st. Finally, DA Davidson upped their price objective on shares of Banner from $72.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, July 27th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $75.00.

Banner Company Profile

Banner Corporation (NASDAQ: BANR) is a bank holding company headquartered in Walla Walla, Washington. Through its principal subsidiary, Banner Bank, the company provides banking and financial services to individuals, families, businesses and communities in the Pacific Northwest.

Banner Bank offers deposit products, residential and commercial real estate lending, construction and land development loans, commercial and industrial financing, agricultural loans, consumer loans and home equity products.