Banner (NASDAQ:BANR) Releases Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Banner (NASDAQ:BANR) posted its quarterly earnings results on Wednesday. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.12, Zacks reports. The business had revenue of $213.90 million during the quarter, compared to analysts’ expectations of $152.95 million. Banner had a net margin of 20.93% and a return on equity of 10.89%. During the same quarter last year, the company posted $1.43 earnings per share.

Banner Stock Up 1.7 %

Shares of NASDAQ:BANR traded up $1.10 during trading on Thursday, hitting $66.96. The company’s stock had a trading volume of 12,390 shares, compared to its average volume of 195,264. The company has a market capitalization of $2.31 billion, a PE ratio of 13.94 and a beta of 1.05. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.85 and a current ratio of 0.85. Banner has a fifty-two week low of $39.31 and a fifty-two week high of $67.72. The business has a 50 day moving average price of $58.48 and a two-hundred day moving average price of $52.07.

Banner Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were given a $0.48 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $1.92 annualized dividend and a yield of 2.87%. Banner’s dividend payout ratio is presently 39.92%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BANR shares. Janney Montgomery Scott lowered shares of Banner from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Raymond James increased their price target on Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Stephens reaffirmed an “overweight” rating and set a $53.00 target price on shares of Banner in a research note on Thursday, July 18th. Finally, Piper Sandler boosted their price objective on Banner from $51.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Banner currently has an average rating of “Hold” and a consensus price target of $56.80.

About Banner

Banner Corporation operates as the bank holding company for Banner Bank that engages in the provision of 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.