Banner (NASDAQ:BANR) Announces Quarterly Earnings Results

Banner (NASDAQ:BANR - Get Free Report) posted its quarterly earnings data on Wednesday. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.32 by $0.03, Zacks reports. The firm had revenue of $162.98 million for the quarter, compared to the consensus estimate of $167.96 million. Banner had a net margin of 21.15% and a return on equity of 10.06%.

Banner Price Performance

BANR stock traded down $1.12 during mid-day trading on Friday, reaching $66.09. 222,898 shares of the company traded hands, compared to its average volume of 217,946. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.88 and a quick ratio of 0.85. The company has a market capitalization of $2.29 billion, a P/E ratio of 12.59 and a beta of 0.89. Banner has a 52-week low of $51.14 and a 52-week high of $78.05. The company has a fifty day moving average price of $64.24 and a 200-day moving average price of $64.83.

Banner Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Tuesday, August 5th. Banner's payout ratio is presently 36.57%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Intech Investment Management LLC grew its holdings in shares of 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 purchasing an additional 8,050 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of 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 purchasing an additional 34,980 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Banner by 5.5% in 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 in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Banner in the first quarter worth approximately $248,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Banner by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,422 shares of the financial services provider's stock worth $1,302,000 after buying an additional 891 shares in the last quarter. Hedge funds and other institutional investors own 87.33% of the company's stock.

Analyst Upgrades and Downgrades

BANR has been the topic of a number of analyst reports. Keefe, Bruyette & Woods cut their price objective on shares of Banner from $75.00 to $73.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Wall Street Zen upgraded Banner from a "sell" rating to a "hold" rating in a research note on Friday. Stephens reiterated an "overweight" rating and set a $73.00 target price on shares of Banner in a research note on Monday, April 21st. DA Davidson lifted their target price on Banner from $67.00 to $72.00 and gave the stock a "neutral" rating in a research note on Friday. Finally, Janney Montgomery Scott upgraded Banner from a "neutral" rating to a "buy" rating and set a $71.00 target price on the stock in a research note on Monday, April 21st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $70.17.

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.