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

Banner (NASDAQ:BANR - Get Free Report) issued its earnings results on Wednesday. The financial services provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.18 by $0.12, Zacks reports. Banner had a return on equity of 10.89% and a net margin of 20.93%. The business had revenue of $213.90 million during the quarter, compared to the consensus estimate of $152.95 million. During the same quarter last year, the company earned $1.43 EPS.

Banner Price Performance

BANR stock traded up $2.07 during mid-day trading on Thursday, hitting $67.93. 343,306 shares of the stock were exchanged, compared to its average volume of 196,910. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 14.12 and a beta of 1.05. The business has a fifty day moving average price of $58.76 and a 200 day moving average price of $52.18. Banner has a 12 month low of $39.31 and a 12 month high of $68.11.

Banner Dividend Announcement

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

Analyst Ratings Changes

BANR has been the topic of several recent analyst reports. Stephens reiterated an "overweight" rating and issued a $53.00 target price on shares of Banner in a research note on Thursday, July 18th. Janney Montgomery Scott downgraded Banner from a "buy" rating to a "neutral" rating in a research report on Friday, July 19th. Raymond James lifted their price objective on Banner from $62.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler upped their target price 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 given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target 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.