Banner (NASDAQ:BANR - Get Free Report) posted its quarterly earnings results on Wednesday. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.03, Zacks reports. The business had revenue of $162.98 million for the quarter, compared to analyst estimates of $167.96 million. Banner had a net margin of 21.15% and a return on equity of 10.15%.
Banner Trading Down 1.7%
Shares of NASDAQ:BANR traded down $1.12 during mid-day trading on Friday, reaching $66.09. 222,898 shares of the company's stock were exchanged, compared to its average volume of 218,335. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 12.59 and a beta of 0.89. The business's fifty day moving average price is $64.18 and its 200-day moving average price is $64.84. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.85 and a current ratio of 0.86. Banner has a twelve month low of $51.14 and a twelve month high of $78.05.
Banner Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.91%. Banner's dividend payout ratio (DPR) is presently 36.57%.
Wall Street Analyst Weigh In
BANR has been the subject of several research reports. DA Davidson increased their price objective on shares of Banner from $67.00 to $72.00 and gave the company a "neutral" rating in a research note on Friday. Janney Montgomery Scott raised shares of Banner from a "neutral" rating to a "buy" rating and set a $71.00 price objective for the company in a research note on Monday, April 21st. Keefe, Bruyette & Woods dropped their price objective on shares of Banner from $75.00 to $73.00 and set a "market perform" rating for the company in a research note on Monday, April 21st. Wall Street Zen downgraded shares of Banner from a "hold" rating to a "sell" rating in a research note on Thursday, May 29th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $65.00 price objective (down previously from $77.00) on shares of Banner in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $70.17.
Check Out Our Latest Stock Analysis on BANR
Hedge Funds Weigh In On Banner
A number of hedge funds have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Banner by 5.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,471 shares of the financial services provider's stock worth $7,427,000 after buying an additional 6,059 shares during the last quarter. Jane Street Group LLC raised its stake in Banner by 582.8% during the first quarter. Jane Street Group LLC now owns 40,982 shares of the financial services provider's stock worth $2,613,000 after buying an additional 34,980 shares during the last quarter. AQR Capital Management LLC raised its stake in Banner by 19.6% during the first quarter. AQR Capital Management LLC now owns 29,714 shares of the financial services provider's stock worth $1,895,000 after buying an additional 4,877 shares during the last quarter. Intech Investment Management LLC raised its stake in Banner by 48.9% during the first quarter. Intech Investment Management LLC now owns 24,505 shares of the financial services provider's stock worth $1,563,000 after buying an additional 8,050 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in Banner by 54.7% during the first quarter. Royal Bank of Canada now owns 22,128 shares of the financial services provider's stock worth $1,412,000 after buying an additional 7,828 shares during the last quarter. Institutional investors own 87.33% of the company's stock.
Banner Company Profile
(
Get Free Report)
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.
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