Banner (NASDAQ:BANR) Announces Earnings Results

by · The Markets Daily

Banner (NASDAQ:BANR – Get Free Report) posted its quarterly earnings data on Wednesday. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.09, Zacks reports. Banner had a return on equity of 10.32% and a net margin of 21.80%.

Banner Stock Performance

Shares of Banner stock traded up $1.85 on Wednesday, reaching $66.03. 485,077 shares of the company were exchanged, compared to its average volume of 169,769. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 12.03 and a beta of 0.91. Banner has a 1-year low of $54.01 and a 1-year high of $72.58. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.86. The company’s 50-day moving average is $64.02 and its two-hundred day moving average is $64.39.

Institutional Investors Weigh In On Banner

A number of hedge funds have recently added to or reduced their stakes in BANR. CIBC Bancorp USA Inc. bought a new stake in shares of Banner in the 3rd quarter worth $238,000. Verition Fund Management LLC boosted its stake in Banner by 106.3% during the third quarter. Verition Fund Management LLC now owns 6,930 shares of the financial services provider’s stock valued at $454,000 after buying an additional 3,571 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in Banner during the third quarter worth about $3,005,000. Mercer Global Advisors Inc. ADV raised its position in Banner by 7.8% in the third quarter. Mercer Global Advisors Inc. ADV now owns 16,893 shares of the financial services provider’s stock worth $1,106,000 after acquiring an additional 1,229 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Banner by 33.2% in the 3rd quarter. Millennium Management LLC now owns 340,215 shares of the financial services provider’s stock valued at $22,284,000 after acquiring an additional 84,805 shares during the last quarter. 87.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on BANR. Weiss Ratings downgraded shares of Banner from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. Raymond James Financial reissued an “outperform” rating and issued a $70.00 target price (down previously from $72.00) on shares of Banner in a research report on Friday, October 17th. Wall Street Zen raised shares of Banner from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. DA Davidson lowered their price objective on Banner from $73.00 to $69.00 and set a “neutral” rating for the company in a report on Friday, October 17th. Finally, Keefe, Bruyette & Woods increased their target price on Banner from $73.00 to $74.00 and gave the stock a “market perform” rating in a report on Friday, October 17th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Banner presently has a consensus rating of “Hold” and an average target price of $71.17.

Check Out Our Latest Stock Report on BANR

Banner Company Profile

(Get Free Report)

Banner Corporation, through its principal subsidiary Banner Bank, operates as a regional commercial bank headquartered in Walla Walla, Washington. Founded in 2000 as a bank holding company, Banner traces its origins to community banking roots in Eastern Washington dating back to the late 19th century. Over the past two decades, the company has grown through both organic expansion and strategic acquisitions, establishing a strong presence throughout the Pacific Northwest.

The company offers a comprehensive suite of financial products and services for individual and business clients.

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