Banner (NASDAQ:BANR) Announces Earnings Results

Key Points

• Banner beat earnings expectations: The financial services provider reported quarterly EPS of $1.51, exceeding the $1.41 consensus estimate, while revenue of $179.07 million fell short of analysts’ $184.24 million forecast.
• Shares edged lower: Banner stock declined 0.2% to $68.05, with a market capitalization of approximately $2.31 billion and a P/E ratio of 11.23.
• Analyst sentiment remains cautious: Banner has an average “Hold” rating from analysts, with an average price target of $75.00; recent ratings ranged from “Buy” to “Sell,” while several firms maintained neutral or market-perform views.

Banner (NASDAQ:BANR - Get Free Report) issued its earnings results on Wednesday. The financial services provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10, Zacks reports. The business had revenue of $179.07 million for the quarter, compared to analysts' expectations of $184.24 million. Banner had a return on equity of 10.72% and a net margin of 23.55%.

Banner Trading Down 0.2%

Shares of NASDAQ BANR traded down $0.12 during midday trading on Wednesday, reaching $68.05. 243,449 shares of the stock were exchanged, compared to its average volume of 299,949. The company has a 50 day simple moving average of $69.62 and a 200 day simple moving average of $67.59. The stock has a market capitalization of $2.31 billion, a P/E ratio of 11.23 and a beta of 0.83. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 0.88. Banner has a twelve month low of $57.05 and a twelve month high of $74.84.

Wall Street Analyst Weigh In

BANR has been the subject of several recent research reports. Benchmark began coverage on Banner in a report on Wednesday, July 8th. They issued a "hold" rating for the company. Weiss Ratings reissued a "buy (b)" rating on shares of Banner in a research note on Monday, September 14th. Piper Sandler dropped their target price on Banner from $74.00 to $71.00 and set a "neutral" rating for the company in a report on Thursday, October 1st. Wall Street Zen cut Banner from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. Finally, Keefe, Bruyette & Woods raised their target price on Banner from $75.00 to $78.00 and gave the stock a "market perform" rating in a research note on Monday, July 27th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $75.00.

Banner Company Profile

Banner Corporation NASDAQ: BANR is a bank holding company headquartered in Walla Walla, Washington. Through its principal subsidiary, Banner Bank, the company provides banking and financial services to individuals, families, businesses and communities in the Pacific Northwest.

Banner Bank offers deposit products, residential and commercial real estate lending, construction and land development loans, commercial and industrial financing, agricultural loans, consumer loans and home equity products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.