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

Banner (NASDAQ:BANR) released its quarterly earnings data on Wednesday. The financial services provider reported $1.30 EPS for the quarter, beating 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 in the prior year, the company earned $1.43 EPS.

Banner Stock Performance

Shares of BANR opened at $67.93 on Friday. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 14.12 and a beta of 1.05. Banner has a 12 month low of $39.31 and a 12 month high of $68.11. The firm has a fifty day simple moving average of $58.76 and a 200 day simple moving average of $52.18. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.43.

Banner Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Tuesday, August 6th. Banner’s dividend payout ratio is presently 39.92%.

Wall Street Analysts Forecast Growth

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

Banner Company Profile

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.