Banner (NASDAQ:BANR) Releases Earnings Results, Beats Expectations By $0.06 EPS

Banner (NASDAQ:BANR - Get Free Report) issued its earnings results on Wednesday. The financial services provider reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.06, Zacks reports. The firm had revenue of $159.88 million for the quarter, compared to the consensus estimate of $159.72 million. Banner had a return on equity of 10.03% and a net margin of 20.28%. During the same quarter in the prior year, the business earned $1.22 earnings per share.

Banner Price Performance

BANR stock traded down $0.77 during trading on Monday, hitting $59.72. The stock had a trading volume of 221,515 shares, compared to its average volume of 212,207. Banner has a twelve month low of $43.63 and a twelve month high of $78.05. The company's 50-day moving average price is $63.72 and its two-hundred day moving average price is $67.16. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market capitalization of $2.06 billion, a P/E ratio of 12.24 and a beta of 0.94.

Banner Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Tuesday, April 29th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, April 29th. This represents a $1.92 annualized dividend and a dividend yield of 3.22%. Banner's dividend payout ratio (DPR) is presently 37.72%.

Wall Street Analysts Forecast Growth

Several research firms have commented on BANR. Stephens restated an "overweight" rating and issued a $73.00 price objective on shares of Banner in a research report on Monday. Raymond James reissued an "outperform" rating and set a $65.00 price target (down from $77.00) on shares of Banner in a report on Monday. DA Davidson raised their price target on shares of Banner from $73.00 to $76.00 and gave the company a "neutral" rating in a research report on Friday, January 24th. Janney Montgomery Scott raised shares of 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. Finally, Keefe, Bruyette & Woods cut their price target on Banner from $75.00 to $73.00 and set a "market perform" rating for the company in a research note on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Banner has a consensus rating of "Hold" and a consensus target price of $70.83.

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.