Overview

* Banner Q2 adjusted revenue beats analyst expectations, per LSEG data

* Net income for Q2 in-line with analyst estimates, per LSEG data

* Company declared a quarterly cash dividend of $0.48 per share

Outlook

* Banner's credit metrics remain strong with a solid reserve for loan losses.

* Company focuses on building client relationships and sustaining a moderate risk profile.

Result Drivers

* LOAN GROWTH - Banner attributes earnings benefit to "solid" year-over-year loan growth, per CEO Mark Grescovich

* HIGHER YIELDS - Increased yields on interest-earning assets contributed to higher net interest income

* FUNDING COSTS - Higher funding costs partially offset benefits from increased yields and loan growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $163 mln $147.30

Adjusted mln (5

Revenue Analysts

)

Q2 EPS $1.31

Q2 Net In-line $45.50 $45.50

Income mln mln (5

Analysts

)

Q2 Net $144.40

Interest mln

Income

Q2 $4.80

Credit mln

Loss

Provisio

n

Q2 $0.48

Dividend

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "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 ( BANR ) is $72.00, about 7.3% above its July 15 closing price of $66.71

* The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release:

(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.)