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

Banner (NASDAQ:BANR) issued its earnings results on Wednesday. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.11, Zacks reports. Banner had a return on equity of 10.11% and a net margin of 20.28%.

Banner Trading Up 0.1 %

Banner stock opened at $70.27 on Friday. 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 price-to-earnings ratio of 14.40 and a beta of 1.09. The firm has a 50 day moving average of $70.36 and a 200 day moving average of $63.60. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.30.

Banner Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th will be given 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 dividend yield of 2.73%. Banner’s payout ratio is currently 39.34%.

Insider Buying and Selling at Banner

In other news, VP James P.G. Mclean sold 1,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.63, for a total value 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. The trade was a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Raymond James boosted their price objective on shares of Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Stephens reissued an “overweight” rating and set a $82.00 price target on shares of Banner in a report on Thursday. Keefe, Bruyette & Woods upped their price objective on Banner from $69.00 to $81.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler set a $67.00 target price on Banner in a research report on Thursday, October 17th. Finally, 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 research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $72.80.

About Banner

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.