Banner Corporation (BANR) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Banner Corporation (NASDAQ:BANR) issued its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.76 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.01), Yahoo Finance reports. The firm had revenue of $120.55 million during the quarter, compared to analysts’ expectations of $123.58 million. Banner Corporation had a return on equity of 7.52% and a net margin of 19.70%.

Banner Corporation (NASDAQ:BANR) traded up $0.12 during mid-day trading on Friday, reaching $54.62. The company’s stock had a trading volume of 127,000 shares, compared to its average volume of 154,191. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 0.94. Banner Corporation has a 52 week low of $46.92 and a 52 week high of $62.75. The company has a market capitalization of $1,787.95, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 1.94 and a beta of 1.07.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Friday, October 6th. Banner Corporation’s dividend payout ratio is 34.01%.

A number of equities research analysts have recently commented on the company. Piper Jaffray Companies reissued a “neutral” rating on shares of Banner Corporation in a research note on Friday, October 27th. Stephens began coverage on Banner Corporation in a research note on Wednesday, September 13th. They issued an “equal weight” rating and a $60.00 target price on the stock. ValuEngine downgraded Banner Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. DA Davidson downgraded Banner Corporation from a “buy” rating to a “neutral” rating in a report on Thursday, October 26th. Finally, Zacks Investment Research downgraded Banner Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $60.67.

In other news, VP Cynthia D. Purcell sold 1,007 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $55.61, for a total value of $55,999.27. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gary Sirmon sold 3,333 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $55.46, for a total value of $184,848.18. The disclosure for this sale can be found here. Insiders sold 7,925 shares of company stock worth $446,739 in the last ninety days. Corporate insiders own 1.71% of the company’s stock.

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About Banner Corporation

Banner Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its subsidiaries, Banner Bank and Islanders Bank. Banner Bank is a Washington-chartered commercial bank. Banner Bank is a regional bank, which offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its primary market areas.

Earnings History for Banner Corporation (NASDAQ:BANR)

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