Banner Corp Posts 3Q EPS of $1.36
BANR sits 19% above its 52-week low of $57.05.
Summary
Banner Corp reported third-quarter EPS of $1.36, or $1.51 on an adjusted basis, and net income of $47.7M. That compares with Q2's $48.9M net income, which was down 10.6% sequentially on higher expenses and credit provisions. This is the first quarterly print since the Pacific Financial acquisition closed September 1st, so it is the first look at how the combined balance sheet is performing. The company also declared a quarterly cash dividend of $0.52 per share. Watch the full release and call for the provision for credit losses and expense run-rate, the two items that dragged Q2.
At the time of this announcement, BANR was trading at $68.06 on NASDAQ in the Finance sector, with a market capitalization of approximately $2.5B. The 52-week trading range was $57.05 to $74.84. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.