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

Banner (NASDAQ:BANR) posted its earnings results on Wednesday. The financial services provider reported $1.33 earnings per share for the quarter, beating 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 10.11%.

Banner Price Performance

Shares of BANR stock opened at $70.27 on Friday. The company has a market capitalization of $2.42 billion, a P/E ratio of 14.40 and a beta of 1.09. The company’s 50-day simple moving average is $70.36 and its two-hundred day simple moving average is $63.60. Banner has a one year low of $42.00 and a one year high of $78.05. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.84.

Banner Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, February 4th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $1.92 dividend on an annualized basis and a yield of 2.73%. Banner’s payout ratio is 39.34%.

Analyst Ratings Changes

BANR has been the topic of several recent research reports. Raymond James upped their price objective on Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. DA Davidson lifted their price target on Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Piper Sandler set a $67.00 price objective on Banner in a research note on Thursday, October 17th. Stephens reissued an “overweight” rating and set a $82.00 target price on shares of Banner in a research report on Thursday. Finally, Keefe, Bruyette & Woods raised their price target on Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. One 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $72.80.

Insider Activity

In other Banner news, VP James P.G. Mclean sold 1,500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.63, for a total transaction of $113,445.00. Following the transaction, the vice president now directly owns 21,868 shares in the company, valued at $1,653,876.84. This trade represents a 6.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

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.