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
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Adjusted Revenue | $169.9 mln | ||
Q4 EPS | Beat | $1.49 | $1.45 (6 Analysts) |
Q4 Net Income | Beat | $51.25 mln | $50.08 mln (6 Analysts) |
Q4 Net Interest Income | $152.45 mln | ||
Q4 Credit Loss Provision | $2.44 mln | ||
Q4 Dividend | $0.50 |
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.)