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

Banner (NASDAQ:BANR) issued its quarterly earnings data on Wednesday. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.11, Zacks reports. Banner had a return on equity of 10.22% and a net margin of 20.28%.

Banner Trading Down 0.7 %

NASDAQ BANR traded down $0.50 on Wednesday, reaching $70.17. The company had a trading volume of 314,471 shares, compared to its average volume of 253,271. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. Banner has a 52 week low of $42.00 and a 52 week high of $78.05. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 14.68 and a beta of 1.09. The stock’s 50 day moving average is $70.49 and its 200-day moving average is $63.51.

Banner Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Tuesday, November 5th. Banner’s dividend payout ratio (DPR) is currently 40.17%.

Analyst Upgrades and Downgrades

BANR has been the topic of a number of research analyst reports. DA Davidson increased their price objective on shares of Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Piper Sandler set a $67.00 price target on shares of Banner in a research note on Thursday, October 17th. Keefe, Bruyette & Woods boosted their price objective on shares of Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Raymond James lifted their target price on Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have assigned 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 a consensus price target of $67.00.

Insider Transactions at Banner

In related news, VP James P.G. Mclean sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $75.63, for a total transaction of $113,445.00. Following the completion of the transaction, the vice president now owns 21,868 shares in the company, valued at approximately $1,653,876.84. The trade was a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.