Banner (NASDAQ:BANR) Announces Quarterly Earnings Results

by · The Markets Daily

Banner (NASDAQ:BANR – Get Free Report) released its quarterly earnings results on Wednesday. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.11, Zacks reports. Banner had a return on equity of 10.22% and a net margin of 20.28%.

Banner Stock Performance

Shares of NASDAQ BANR traded down $0.50 during midday trading on Wednesday, hitting $70.17. 314,590 shares of the company’s stock were exchanged, compared to its average volume of 253,271. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $2.42 billion, a PE ratio of 14.68 and a beta of 1.09. Banner has a 12 month low of $42.00 and a 12 month high of $78.05. The company’s 50 day moving average price is $70.49 and its 200 day moving average price is $63.51.

Banner Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.92 annualized dividend and a yield of 2.74%. Banner’s dividend payout ratio is 40.17%.

Insider Activity at Banner

In other Banner news, VP James P.G. Mclean sold 1,500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.63, for a total transaction of $113,445.00. Following the transaction, the vice president now owns 21,868 shares in the company, valued at $1,653,876.84. This trade represents a 6.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Raymond James increased their target price on shares of Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods increased their price objective on shares of Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler set a $67.00 target price on Banner in a research report on Thursday, October 17th. Finally, DA Davidson increased their price target on Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Banner currently has a consensus rating of “Hold” and an average target price of $67.00.

Check Out Our Latest Research Report on Banner

About Banner

(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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