Banner (NASDAQ:BANR – Get Free Report) posted its earnings results on Wednesday. The financial services provider reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.02), Zacks reports. Banner had a return on equity of 10.77% and a net margin of 23.24%.The firm had revenue of $172.11 million for the quarter, compared to analyst estimates of $174.54 million.
Banner Stock Performance
Shares of NASDAQ BANR traded down $1.12 during midday trading on Wednesday, reaching $69.62. 886,614 shares of the company were exchanged, compared to its average volume of 304,686. The stock has a market cap of $2.36 billion, a P/E ratio of 11.72 and a beta of 0.83. Banner has a 1 year low of $57.05 and a 1 year high of $72.65. The stock has a fifty day simple moving average of $66.25 and a 200 day simple moving average of $64.05. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on BANR. Keefe, Bruyette & Woods upped their target price on Banner from $73.00 to $75.00 and gave the company a “market perform” rating in a research report on Monday, May 18th. Weiss Ratings upgraded Banner from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Piper Sandler increased their price objective on Banner from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, April 27th. DA Davidson restated a “neutral” rating and set a $72.00 target price on shares of Banner in a research report on Monday, May 4th. Finally, Benchmark assumed coverage on shares of Banner in a report on Wednesday, July 8th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $71.00.
Institutional Trading of Banner
A number of hedge funds have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC acquired a new stake in shares of Banner during the fourth quarter worth $325,000. WINTON GROUP Ltd acquired a new position in Banner in the 2nd quarter valued at $317,000. Balyasny Asset Management L.P. raised its position in Banner by 8.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 4,909 shares of the financial services provider’s stock worth $308,000 after buying an additional 386 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Banner in the 4th quarter worth $289,000. Finally, Man Group plc acquired a new stake in shares of Banner in the 4th quarter worth $284,000. 87.33% of the stock is owned by institutional investors and hedge funds.
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.
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