Banner (NASDAQ:BANR) Releases Earnings Results, Beats Expectations By $0.09 EPS

Banner (NASDAQ:BANR) posted its quarterly earnings data on Wednesday. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.09, Zacks reports. Banner had a return on equity of 10.57% and a net margin of 22.26%.The firm had revenue of $169.90 million for the quarter, compared to the consensus estimate of $173.23 million.

Banner Trading Up 0.2%

NASDAQ:BANR opened at $66.13 on Friday. The stock has a 50-day simple moving average of $64.20 and a 200-day simple moving average of $64.41. The stock has a market cap of $2.25 billion, a P/E ratio of 11.73 and a beta of 0.91. Banner has a 1 year low of $54.01 and a 1 year high of $72.58. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.86.

Banner Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Tuesday, February 3rd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, February 3rd. Banner’s payout ratio is 36.43%.

Analysts Set New Price Targets

BANR has been the topic of a number of recent research reports. Raymond James Financial reiterated an “outperform” rating and set a $70.00 price target (down from $72.00) on shares of Banner in a research note on Friday, October 17th. Piper Sandler reaffirmed a “neutral” rating and set a $70.00 target price on shares of Banner in a research note on Monday, December 1st. Wall Street Zen raised shares of Banner from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Banner in a research report on Wednesday. Finally, DA Davidson reduced their price objective on Banner from $73.00 to $69.00 and set a “neutral” rating on the stock in a research note on Friday, October 17th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $71.17.

Institutional Investors Weigh In On Banner

Several institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP increased its stake in Banner by 0.4% in the third quarter. First Trust Advisors LP now owns 41,634 shares of the financial services provider’s stock valued at $2,727,000 after purchasing an additional 175 shares during the last quarter. US Bancorp DE lifted its position in shares of Banner by 8.9% during the 3rd quarter. US Bancorp DE now owns 2,154 shares of the financial services provider’s stock worth $141,000 after buying an additional 176 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Banner by 0.9% in the 2nd quarter. California State Teachers Retirement System now owns 31,818 shares of the financial services provider’s stock valued at $2,041,000 after buying an additional 285 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Banner by 1.4% in the 3rd quarter. Alliancebernstein L.P. now owns 39,930 shares of the financial services provider’s stock valued at $2,615,000 after buying an additional 540 shares during the last quarter. Finally, Aquatic Capital Management LLC acquired a new stake in Banner during the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 87.33% of the company’s stock.

About Banner

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.