Banner (NASDAQ:BANR) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Banner (NASDAQ:BANR) announced its earnings results on Wednesday. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 Trading Up 2.9%

NASDAQ BANR traded up $1.85 on Wednesday, reaching $66.03. 485,924 shares of the company were exchanged, compared to its average volume of 187,452. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The business’s fifty day moving average price is $64.02 and its 200 day moving average price is $64.39. The stock has a market capitalization of $2.25 billion, a P/E ratio of 12.03 and a beta of 0.91. Banner has a fifty-two week low of $54.01 and a fifty-two week high of $72.58.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BANR. Piper Sandler reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Banner in a report on Monday, December 1st. Keefe, Bruyette & Woods raised their price target on shares of Banner from $73.00 to $74.00 and gave the company a “market perform” rating in a research note on Friday, October 17th. DA Davidson cut their price objective on Banner from $73.00 to $69.00 and set a “neutral” rating for the company in a research note on Friday, October 17th. Raymond James Financial reissued an “outperform” rating and set a $70.00 target price (down previously from $72.00) on shares of Banner in a report on Friday, October 17th. Finally, Wall Street Zen raised Banner from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $71.17.

Institutional Trading of Banner

Several institutional investors have recently made changes to their positions in BANR. Royal Bank of Canada lifted its stake in shares of Banner by 54.7% in the 1st quarter. Royal Bank of Canada now owns 22,128 shares of the financial services provider’s stock valued at $1,412,000 after purchasing an additional 7,828 shares during the last quarter. AQR Capital Management LLC boosted its stake in Banner by 19.6% during the first quarter. AQR Capital Management LLC now owns 29,714 shares of the financial services provider’s stock worth $1,895,000 after buying an additional 4,877 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Banner by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,422 shares of the financial services provider’s stock valued at $1,302,000 after acquiring an additional 891 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Banner in the 1st quarter valued at approximately $248,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Banner by 5.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,471 shares of the financial services provider’s stock worth $7,427,000 after acquiring an additional 6,059 shares during the last quarter. Hedge funds and other institutional investors own 87.33% of the company’s stock.

About Banner

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.