Overview

• Bank holding company's Q4 EPS beat analyst expectations

• Net income for Q4 rose yr/yr and beat analyst estimates

• Company declared a quarterly dividend of $0.50 per share

Outlook

• Banner sees continued benefit from strong core deposit base representing 89% of total deposits

Result Drivers

• NET INTEREST INCOME - Increase driven by lower funding costs and higher average balance of interest-earning assets

• CREDIT QUALITY - Provision for credit losses decreased, reflecting stable credit metrics

• NON-INTEREST INCOME - Decline due to losses on asset dispositions and decreased fair value adjustments

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy"

• Wall Street's median 12-month price target for Banner Corp is $72.00, about 12.2% above its January 20 closing price of $64.18

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release: ID:nBw5TnwPa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)