Banner (NASDAQ:BANR) Announces Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Banner (NASDAQ:BANR) issued its quarterly earnings data on Wednesday. The financial services provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10, Zacks reports. Banner had a net margin of 23.55% and a return on equity of 10.72%. The firm had revenue of $179.07 million for the quarter, compared to analyst estimates of $184.24 million.

Banner Trading Down 0.2%

Banner stock traded down $0.12 during midday trading on Wednesday, reaching $68.05. 243,449 shares of the stock traded hands, compared to its average volume of 299,949. The company has a 50-day simple moving average of $69.62 and a two-hundred day simple moving average of $67.59. Banner has a 12-month low of $57.05 and a 12-month high of $74.84. The firm has a market cap of $2.31 billion, a PE ratio of 11.23 and a beta of 0.83. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BANR. Benchmark started coverage on shares of Banner in a research note on Wednesday, July 8th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Banner from $75.00 to $78.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Piper Sandler dropped their target price on shares of Banner from $74.00 to $71.00 and set a “neutral” rating for the company in a report on Thursday, October 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Banner in a report on Monday, September 14th. Finally, Wall Street Zen lowered Banner from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.