Banner (NASDAQ:BANR) Announces Quarterly Earnings Results

Banner (NASDAQ:BANR) released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.07), Morningstar.com reports. The firm had revenue of $134.23 million for the quarter, compared to the consensus estimate of $139.04 million. Banner had a net margin of 24.74% and a return on equity of 10.39%.

Shares of Banner stock traded down $0.64 during trading on Friday, reaching $53.35. 130,508 shares of the stock traded hands, compared to its average volume of 196,622. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 1.83 and a beta of 0.75. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. Banner has a 52-week low of $48.50 and a 52-week high of $67.11.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th were issued a dividend of $0.41 per share. The ex-dividend date was Monday, April 8th. This is a boost from Banner’s previous quarterly dividend of $0.38. This represents a $1.64 dividend on an annualized basis and a yield of 3.07%. Banner’s dividend payout ratio (DPR) is currently 40.10%.

A number of brokerages recently commented on BANR. Zacks Investment Research raised Banner from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Wednesday, March 27th. ValuEngine cut Banner from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Raymond James set a $60.00 target price on Banner and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, BidaskClub raised Banner from a “hold” rating to a “buy” rating in a report on Wednesday, February 20th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $61.50.

In other news, VP Steven W. Rust sold 491 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $53.39, for a total transaction of $26,214.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cheryl R. Bishop sold 11,943 shares of Banner stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $63.62, for a total value of $759,813.66. The disclosure for this sale can be found here. Company insiders own 2.51% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Enlightenment Research LLC purchased a new position in Banner in the fourth quarter worth about $27,000. Public Employees Retirement System of Ohio grew its position in Banner by 47.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 563 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 182 shares in the last quarter. Huntington National Bank grew its position in Banner by 1,669.4% in the first quarter. Huntington National Bank now owns 637 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 601 shares in the last quarter. Quantamental Technologies LLC purchased a new position in Banner in the fourth quarter worth about $54,000. Finally, Advisor Group Inc. grew its position in Banner by 1,399.2% in the first quarter. Advisor Group Inc. now owns 1,964 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 1,833 shares in the last quarter. Institutional investors own 82.43% of the company’s stock.

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About Banner

Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank that provides commercial banking and financial products and services to individuals, businesses, and public sector entities primarily in the United States. It offers deposit products, 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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Earnings History for Banner (NASDAQ:BANR)

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