Revenue Update on Banner Corporation(NASDAQ:BANR)

Banner Corporation(NASDAQ:BANR) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 26, 2016. Company reported revenue of $113.69M. Analysts estimated a revenue of $91.90M. Earnings per share were $0.66. Analysts had estimated an EPS of $0.72.

Banner Corporation (BANR) shares turned negative on Fridays trading session with the shares closing down -0.52 points or -1.23% at a volume of 1,62,663. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $42.78. The peak price level was also seen at $42.78 while the days lowest was $41.62. Finally the shares closed at $41.74. The 52-week high of the shares is $53.55 while the 52-week low is $35.39. According to the latest information available, the market cap of the company is $1,434 M.

Several Insider Transactions has been reported to the SEC. On May 9, 2016, Douglas M Bennett (Executive VP, Banner Bank) sold 1,386 shares at $41.78 per share price.Also, On Mar 8, 2016, Steven W Rust (Executive VP Banner Bank) sold 304 shares at $42.02 per share price.On Dec 3, 2015, Brent A Orrico (director) sold 200 shares at $51.51 per share price, according to the Form-4 filing with the securities and exchange commission.

Banner Corporation is a bank holding company for its wholly owned subsidiaries Banner Bank and Islanders Bank. Banner Bank is a regional bank that offers a range of commercial banking services and financial products to individuals businesses and public sector entities. Islanders Bank is a community bank that offers banking services to individuals businesses and public entities located primarily in the San Juan Islands. The Banks’ primary business includes accepting deposits and originating loans in locations surrounding its offices in portions of Washington Oregon and Idaho. Banner Bank also engages in mortgage banking operations primarily through the origination and sale of one to four-family residential loans. As of December 31 2014 the Company had total consolidated assets of $4.7 billion net loans of $3.8 billion total deposits of $3.9 billion and total stockholders’ equity of $584 million.

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