Banner (NASDAQ:BANR) Issues Quarterly Earnings Results

Banner (NASDAQ:BANR) announced its quarterly earnings data on Wednesday. The financial services provider reported $1.44 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.02), Zacks reports. Banner had a net margin of 23.24% and a return on equity of 10.77%. The firm had revenue of $172.11 million for the quarter, compared to analysts’ expectations of $174.54 million.

Banner Stock Down 1.6%

Shares of BANR traded down $1.12 during trading hours on Wednesday, hitting $69.62. The company had a trading volume of 886,614 shares, compared to its average volume of 304,686. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 11.72 and a beta of 0.83. The firm has a fifty day moving average price of $66.25 and a 200-day moving average price of $64.05. Banner has a 52-week low of $57.05 and a 52-week high of $72.65. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.86.

Institutional Trading of Banner

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Kemnay Advisory Services Inc. bought a new position in shares of Banner in the fourth quarter worth approximately $31,000. Aquatic Capital Management LLC bought a new stake in shares of Banner during the third quarter valued at approximately $36,000. EverSource Wealth Advisors LLC purchased a new position in Banner in the 2nd quarter worth approximately $45,000. US Bancorp DE raised its holdings in Banner by 8.9% in the 3rd quarter. US Bancorp DE now owns 2,154 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 176 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in Banner in the 4th quarter valued at approximately $210,000. 87.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BANR. DA Davidson reiterated a “neutral” rating and issued a $72.00 price target on shares of Banner in a research note on Monday, May 4th. Keefe, Bruyette & Woods boosted their price objective on shares of Banner from $73.00 to $75.00 and gave the stock a “market perform” rating in a research note on Monday, May 18th. Benchmark started coverage on shares of Banner in a report on Wednesday, July 8th. They issued a “hold” rating on the stock. Piper Sandler raised their target price on shares of Banner from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Finally, Weiss Ratings upgraded shares of Banner from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Banner presently has an average rating of “Hold” and a consensus price target of $71.00.

About Banner

Banner Corporation, through its principal subsidiary Banner Bank, operates as a regional commercial bank headquartered in Walla Walla, Washington. Founded in 2000 as a bank holding company, Banner traces its origins to community banking roots in Eastern Washington dating back to the late 19th century. Over the past two decades, the company has grown through both organic expansion and strategic acquisitions, establishing a strong presence throughout the Pacific Northwest.

The company offers a comprehensive suite of financial products and services for individual and business clients.