Recap: Banner Q1 Earnings

Shares of Banner BANR rose in after-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were up 121.67% year over year to $1.33, which beat the estimate of $1.03.

Revenue of $141,933,000 up by 2.54% from the same period last year, which beat the estimate of $132,760,000.

Outlook

Banner hasn't issued any earnings guidance for the time being.

Banner hasn't issued any revenue guidance for the time being.

Technicals

Company's 52-week high was at $60.42

52-week low: $27.76

Price action over last quarter: Up 6.10%

Company Overview

Banner Corp is a bank holding company. It is primarily engaged in coordinating the business activities of its wholly owned subsidiaries, Banner Bank and Islanders Bank. Banner Bank operates scores of branches, primarily in the Pacific Northwest region of the United States. Both banks offer similar traditional community banking services and financial products to individuals, businesses, and public entities. Banner Bank also actively participates in the secondary mortgage market. The company's strategy emphasizes growth through acquisitions and brand awareness of its banks. A significant portion of the banks' portfolio is in residential construction and land loans to professional homebuilders and developers. Most of its revenue is net interest income.