Banner (NASDAQ:BANR) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Banner (NASDAQ:BANR - Get Free Report) posted its earnings results on Wednesday. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.22 by $0.11, Zacks reports. Banner had a net margin of 20.28% and a return on equity of 10.22%.

Banner Price Performance

Shares of NASDAQ:BANR traded down $0.50 during midday trading on Wednesday, reaching $70.17. 314,471 shares of the company's stock were exchanged, compared to its average volume of 253,271. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.84 and a current ratio of 0.85. The company's 50 day simple moving average is $70.49 and its two-hundred day simple moving average is $63.51. Banner has a 12 month low of $42.00 and a 12 month high of $78.05. The firm has a market capitalization of $2.42 billion, a PE ratio of 14.68 and a beta of 1.09.

Banner Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Tuesday, November 5th. Banner's dividend payout ratio is 40.17%.

Insider Activity at Banner

In other Banner news, VP James P.G. Mclean sold 1,500 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.63, for a total value of $113,445.00. Following the sale, the vice president now directly owns 21,868 shares in the company, valued at $1,653,876.84. This represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BANR. DA Davidson upped their price target on shares of Banner from $60.00 to $69.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Raymond James raised their target price on Banner from $62.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, October 2nd. Piper Sandler set a $67.00 price target on Banner in a report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Banner from $69.00 to $81.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $67.00.

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.

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