Banner (NASDAQ:BANR) Releases Quarterly Earnings Results

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

Banner Price Performance

Shares of BANR stock opened at $67.93 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $2.34 billion, a P/E ratio of 14.12 and a beta of 1.05. The business’s 50 day moving average price is $58.76 and its 200-day moving average price is $52.18. Banner has a fifty-two week low of $39.31 and a fifty-two week high of $68.11.

Banner Dividend Announcement

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

Wall Street Analyst Weigh In

BANR has been the topic of several research reports. Piper Sandler lifted their price target on shares of Banner from $51.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Stephens reaffirmed an “overweight” rating and set a $53.00 price objective on shares of Banner in a research note on Thursday, July 18th. Janney Montgomery Scott lowered Banner from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Finally, Raymond James raised 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. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently 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.