Banner Corp Stock Research

Market Summary

USD45.19-0.60

Market Closed

-1.31%

BANR Alerts

2 major insider buys recently.
Big jump in Revenue (Y/Y)

BANR Stock Price

BANR RSI Chart

BANR Valuation

Market Cap

1.8B

Price/Earnings (Trailing)

9.28

Price/Sales (Trailing)

4.02

Price/Free Cashflow

8.11

BANR Price/Sales (Trailing)

BANR Profitability

Return on Equity

13.41%

Return on Assets

1.23%

Free Cashflow Yield

12.32%

BANR Fundamentals

BANR Revenue

Revenue (TTM)

483.8M

Revenue Y/Y

32.79%

Revenue Q/Q

2.94%

BANR Earnings

Earnings (TTM)

207.0M

Earnings Y/Y

26.37%

Earnings Q/Q

2.16%

Price Action

52 Week Range

41.5775.72

(Low)(High)

Last 7 days

-5.1%

Last 30 days

-8.6%

Last 90 days

-28.4%

Trailing 12 Months

-22.3%

BANR Financial Health

BANR Investor Care

Dividend Yield

3.98%

Dividend/Share (TTM)

1.8

Buy Backs (1Y)

0.64%

Diluted EPS (TTM)

6.01

Peers (Alternatives to Banner)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
BNS	56.4B	40.0B	-2.14%	-24.99%	5.3	1.79	34.99%	-10.60%
MTB	21.9B	7.6B	-0.45%	-30.27%	15.92	3.51	98.59%	-3.15%
CFG	13.1B	8.2B	-10.89%	-32.08%	6.08	1.59	70.15%	1.69%
MID-CAP
EWBC	7.6B	2.7B	-3.73%	-31.47%	6.71	3.26	63.22%	33.92%
SIVB	6.3B	5.7B	-67.21%	-80.32%	3.9	1.11	72.48%	-22.38%
CBSH	5.9B	1.1B	-12.71%	-29.09%	12.1	5.41	28.89%	-5.45%
PB	5.3B	1.1B	-6.77%	-18.97%	10.16	4.87	4.58%	1.01%
BPOP	4.3B	2.7B	-1.00%	-26.69%	4.07	1.6	25.66%	18.78%
FFIN	3.8B	457.4M	-8.51%	-35.38%	16.62	8.4	19.47%	1.97%
WAL	3.5B	3.2B	-4.10%	-56.03%	3.34	1.31	75.57%	1.33%
SMALL-CAP
BANR	1.8B	483.8M	-8.60%	-22.29%	9.28	4.02	10.67%	4.45%
SBCF	1.8B	460.3M	-4.01%	-37.85%	18.44	3.92	57.00%	-12.16%
LKFN	1.3B	270.8M	2.29%	-28.54%	12.62	4.87	40.09%	8.36%
HTLF	1.2B	750.4M	-12.01%	-34.06%	5.79	1.82	28.80%	5.55%

Financials for Banner

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	7.3%	484	451	426	426	437
Interest Expenses	7.3%	553	516	499	498	-
Net Income	5.9%	207	195	191	192	198
Net Income Margin	-3.2%	0.43*	0.45*	0.45*	0.45*	-
Free Cahsflow	97.9%	223	113	85.00	18.00	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	-1.9%	15,534	15,833	16,361	16,385	16,776
Cash Equivalents	0.0%	243	243	822	1,171	1,988
Net PPE	-1.7%	136	139	141	141	143
Goodwill	0%	373	373	373	373	373
Liabilities	-2.6%	14,002	14,377	14,952	14,899	15,212
Shareholder's Equity	5.2%	1,532	1,456	1,409	1,486	1,564
Retained Earnings	7.4%	564	525	486	452	420
Shares Outstanding	-0.2%	34.00	34.00	34.00	-	-

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	10.1%	262	238	129	97.00	30.00
Share Based Compensation	-0.3%	9.00	9.00	9.00	9.00	9.00
Cashflow From Investing	40.6%	-857	-1,444	-1,561	-898	-464
Cashflow From Financing	-68.0%	-1,150	-684	53.00	504	773
Dividend Payments	2.5%	63.00	61.00	60.00	59.00	58.00
Buy Backs	0%	11.00	11.00	28.00	31.00	-

Risks for BANR

What is the probability of a big loss on BANR?

53.9%

Probability that Banner stock will be more than 20% underwater in next one year

22.7%

Probability that Banner stock will be more than 30% underwater in next one year.

20%

Probability that Banner stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does BANR drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Banner was unfortunately bought at previous high price.

Drawdowns

Returns for BANR

Cumulative Returns on BANR

6.4%

10-Year Cumulative Returns

3.5%

7-Year Cumulative Returns

-2.2%

5-Year Cumulative Returns

9.3%

3-Year Cumulative Returns

What are the long-term rolling returns for BANR?

FIve years rolling returns for Banner.

Annualized Returns

Which funds bought or sold BANR recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-26	ProShare Advisors LLC	reduced	-8.15	-71,569	269,458	-%
2023-05-25	Brandywine Global Investment Management, LLC	added	99.68	2,768,060	6,624,330	0.03%
2023-05-22	AMERIPRISE FINANCIAL INC	reduced	-0.86	-4,507,780	26,138,200	0.01%
2023-05-22	Raleigh Capital Management Inc.	added	20.34	98.00	3,841	-%
2023-05-22	PUTNAM INVESTMENTS LLC	added	138	1,023,610	1,996,200	-%
2023-05-19	Coppell Advisory Solutions LLC	sold off	-100	-43,798	-	-%
2023-05-18	JPMORGAN CHASE & CO	added	76.65	7,020,000	20,526,000	-%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	reduced	-24.46	-5,437,000	10,090,000	0.01%
2023-05-17	Advisory Services Network, LLC	unchanged	-	-115	707	-%
2023-05-17	Thrivent Financial for Lutherans	added	4.06	-1,731,000	14,796,000	0.04%

Latest Funds Activity

Are funds buying BANR calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own BANR

No. of Funds

Banner News

Schedule 13G FIlings of Banner

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	11.85%	4,053,060	SC 13G/A
Jan 26, 2023	blackrock inc.	14.3%	4,887,742	SC 13G/A
Jan 20, 2023	blackrock inc.	14.3%	4,887,742	SC 13G
Feb 09, 2022	vanguard group inc	11.04%	3,782,997	SC 13G/A
Feb 08, 2022	dimensional fund advisors lp	6.7%	2,280,961	SC 13G/A
Jan 27, 2022	blackrock inc.	14.5%	4,972,759	SC 13G/A
Jan 26, 2022	blackrock inc.	14.5%	4,972,759	SC 13G/A
Feb 12, 2021	dimensional fund advisors lp	6.7%	2,349,169	SC 13G/A
Feb 10, 2021	vanguard group inc	10.33%	3,630,335	SC 13G/A
Jan 26, 2021	blackrock inc.	14.7%	5,178,534	SC 13G/A

BANR Fair Value

Show Fair-Value

Recent SEC filings of Banner

View All Filings

Date Filed	Form Type	Document
May 26, 2023	8-K	Current Report
May 08, 2023	4	Insider Trading
May 05, 2023	10-Q	Quarterly Report
Apr 26, 2023	4	Insider Trading
Apr 19, 2023	8-K	Current Report
Apr 18, 2023	ARS	ARS
Apr 18, 2023	DEF 14A	DEF 14A
Apr 11, 2023	3	Insider Trading
Apr 05, 2023	4	Insider Trading
Apr 05, 2023	4	Insider Trading

Latest Insider Trading transactions for BANR

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-05-08	Pedersen John Clarence	bought	44,788	44.788	1,000	-
2023-04-26	Riordan Kevin F	bought	13,110	48.92	268	-
2023-04-03	GRESCOVICH MARK J	acquired	1,457,820	53.82	27,087	president and ceo
2023-04-03	Costa James M	acquired	406,718	53.82	7,557	executive vp, banner bank
2023-04-03	McLean James P.G.	acquired	249,187	53.82	4,630	executive vp, banner bank
2023-04-03	Rice Jill M	acquired	234,386	53.82	4,355	executive vp, banner bank
2023-04-03	Brown Janet M	acquired	245,527	53.82	4,562	executive vp, banner bank
2023-04-03	Kohler Kayleen R	acquired	240,414	53.82	4,467	executive vp, banner bank
2023-04-03	Conner Peter	acquired	461,237	53.82	8,570	executive vp, banner bank
2023-04-03	Reed James T Jr	acquired	195,205	53.82	3,627	executive vp, banner bank

About Banner

Mark J. Grescovich

www.bannerbank.com

1890

Banner Corporation operates as the bank holding company for Banner Bank that provide commercial banking and financial products and services to individuals, businesses, and public sector entities in the United States. It accepts various deposit instruments, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, regular savings accounts, and certificates of deposit, as well as treasury management services and retirement savings plans. The company also provides commercial real estate loans, including owner-occupied, investment properties, and multifamily residential real estate loans; construction, land, and land development loans; residential mortgage loans; commercial business loans; agricultural loans; and consumer and other loans, such as home equity lines of credit, automobile, and boat and recreational vehicle loans, as well as loans secured by deposit accounts. In addition, it engages in the mortgage banking operations through the origination and sale of one-to four-family and multi-family residential loans, as well as small business administration loans. Further, the company provides electronic and digital banking services. As of December 31, 2021, it operated 150 branch offices and 18 loan production offices located in Washington, Oregon, California, Idaho, and Utah. Banner Corporation was founded in 1890 and is headquartered in Walla Walla, Washington.

BANR Income Statement

2023-03-31

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
INTEREST INCOME:
Loans receivable	$ 133,257	$ 100,350
Mortgage-backed securities	18,978	14,109
Securities and cash equivalents	14,726	8,432
Total interest income	166,961	122,891
INTEREST EXPENSE:
Deposits	9,244	2,086
FHLB advances	1,264	291
Other borrowings	381	84
Subordinated debt	2,760	1,776
Total interest expense	13,649	4,237
Net interest income	153,312	118,654
Provision for Loan, Lease, and Other Losses	(524)	(6,961)
Net interest income after (recapture) provision for credit losses	153,836	125,615
NON-INTEREST INCOME:
Deposit fees and other service charges	10,562	11,189
Mortgage banking operations	2,691	4,440
BOLI	2,188	1,631
Miscellaneous	1,640	1,683
Other operating income	17,081	18,943
Net (loss) gain on sale of securities	(7,252)	435
Net change in valuation of financial instruments carried at fair value	(552)	49
Total non-interest income	9,277	19,427
NON-INTEREST EXPENSE:
Salary and employee benefits	61,389	59,486
Less capitalized loan origination costs	(3,431)	(6,230)
Occupancy and equipment	11,970	13,220
Information and computer data services	7,147	6,651
Payment and card processing services	4,618	4,896
Professional and legal expenses	2,121	2,180
Advertising and marketing	806	461
Deposit insurance	1,890	1,524
State and municipal business and use taxes	1,300	1,162
Real estate operations, net	(277)	(79)
Amortization of core deposit intangibles	1,050	1,424
Loss on extinguishment of debt	0	793
Miscellaneous	6,038	5,707
Total non-interest expense	94,621	91,195
Income before provision for income taxes	68,492	53,847
PROVISION FOR INCOME TAXES	12,937	9,884
NET INCOME	$ 55,555	$ 43,963
Earnings per common share:
Basic	$ 1.62	$ 1.28
Diluted	1.61	1.27
Common Stock, Dividends, Per Share, Declared	$ 0.48	$ 0.44
Weighted average number of common shares outstanding, Basic	34,239,533	34,300,742
Weighted average number of common shares outstanding, Diluted	34,457,869	34,598,436