Banner (BANR) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, Banner (BANR) reported revenue of $150.94 million, down 3.4% over the same period last year. EPS came in at $1.32, compared to $1.25 in the year-ago quarter.
The reported revenue represents a surprise of -9.76% over the Zacks Consensus Estimate of $167.26 million. With the consensus EPS estimate being $1.56, the EPS surprise was -15.38%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Banner performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Interest Margin: 3.94% versus the three-analyst average estimate of 4.19%.
Efficiency Ratio: 63.21% versus the three-analyst average estimate of 56.69%.
Total non-performing assets: $28.73 million compared to the $28.66 million average estimate based on two analysts.
Total non-performing loans: $28.18 million versus $27.12 million estimated by two analysts on average.
Total Average interest-earning assets: $14.59 billion versus $14.54 billion estimated by two analysts on average.
Net Charge-off (% of Average Loans): 0% versus 0.09% estimated by two analysts on average.
Net interest income: $142.52 million versus the three-analyst average estimate of $150.04 million.
Total non-interest income: $8.42 million compared to the $17.22 million average estimate based on three analysts.
Net interest income/rate spread (tax equivalent): $145.44 million compared to the $152.10 million average estimate based on two analysts.
Mortgage banking operations: $1.69 million compared to the $3.20 million average estimate based on two analysts.
View all Key Company Metrics for Banner here>>>
Shares of Banner have returned +5.6% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Banner Corporation (BANR) : Free Stock Analysis Report
