Banner (NASDAQ:BANR) Announces Earnings Results, Beats Expectations By $997.63 EPS

Banner (NASDAQ:BANR) announced its earnings results on Wednesday. The financial services provider reported $999.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $997.63, Zacks reports. Banner had a net margin of 22.26% and a return on equity of 10.46%.

Banner Price Performance

Shares of BANR stock traded down $0.32 during trading hours on Wednesday, hitting $63.52. 183,315 shares of the company’s stock were exchanged, compared to its average volume of 296,067. The company has a market capitalization of $2.15 billion, a PE ratio of 11.26 and a beta of 0.85. Banner has a 12-month low of $57.05 and a 12-month high of $69.83. The business’s 50 day simple moving average is $61.55 and its 200-day simple moving average is $62.70. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in shares of Banner by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,158,993 shares of the financial services provider’s stock worth $135,284,000 after acquiring an additional 5,552 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Banner by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,448,700 shares of the financial services provider’s stock worth $90,776,000 after acquiring an additional 6,835 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Banner by 19.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,011,347 shares of the financial services provider’s stock worth $64,878,000 after acquiring an additional 165,557 shares in the last quarter. Nuveen LLC grew its holdings in shares of Banner by 17.9% in the fourth quarter. Nuveen LLC now owns 749,083 shares of the financial services provider’s stock worth $46,938,000 after purchasing an additional 113,632 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of Banner by 31.4% in the fourth quarter. Millennium Management LLC now owns 446,882 shares of the financial services provider’s stock worth $28,002,000 after buying an additional 106,667 shares during the period. 87.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BANR. Wall Street Zen raised shares of Banner from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Piper Sandler decreased their price target on shares of Banner from $67.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, April 2nd. Finally, Weiss Ratings raised shares of Banner from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $69.00.

Banner Company Profile

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.