Banner (NASDAQ:BANR) Announces Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Banner (NASDAQ:BANRGet Rating) released its earnings results on Wednesday. The financial services provider reported $1.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.17, MarketWatch Earnings reports. Banner had a return on equity of 12.42% and a net margin of 32.62%. During the same quarter in the previous year, the firm posted $1.33 EPS.

Shares of BANR opened at $57.99 on Thursday. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.32. Banner has a 12 month low of $49.10 and a 12 month high of $66.79. The company’s fifty day moving average is $43.05 and its 200-day moving average is $38.35. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 10.05 and a beta of 1.05.

A number of research analysts recently commented on BANR shares. StockNews.com started coverage on shares of Banner in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Raymond James upped their price target on shares of Banner from $68.00 to $72.00 and gave the stock a “strong-buy” rating in a research note on Monday, January 24th. Finally, Zacks Investment Research raised Banner from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Monday, March 28th.

In related news, VP Kenneth William Johnson sold 2,900 shares of the business’s stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $61.50, for a total value of $178,350.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David I. Matson sold 1,738 shares of Banner stock in a transaction that occurred on Monday, January 31st. The shares were sold at an average price of $61.06, for a total transaction of $106,122.28. The disclosure for this sale can be found here. 1.37% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC boosted its stake in Banner by 4.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 7,450 shares of the financial services provider’s stock valued at $452,000 after purchasing an additional 308 shares during the period. Allianz Asset Management GmbH bought a new stake in shares of Banner in the fourth quarter valued at approximately $472,000. JPMorgan Chase & Co. acquired a new stake in shares of Banner in the fourth quarter worth $488,000. Schonfeld Strategic Advisors LLC bought a new position in Banner during the fourth quarter worth $586,000. Finally, Royal Bank of Canada raised its stake in Banner by 30.5% during the 3rd quarter. Royal Bank of Canada now owns 12,002 shares of the financial services provider’s stock valued at $663,000 after purchasing an additional 2,805 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors.

About Banner (Get Rating)

Banner Corporation operates as the bank holding company for Banner Bank that provide 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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Earnings History for Banner (NASDAQ:BANR)

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