# Banner Corporation (BANR)

> Source: Nexqual · https://nexqual.com/BANR · data as of 2026-10-23 14:15 UTC · cite as "Nexqual, Banner Corporation (BANR), nexqual.com/BANR" · informational, not investment advice.

**Price:** USD 69.96 (-0.21% today) · US market open, as of October 23, 2026 at 14:15 UTC; quotes may be delayed. Prev close 70.1 · day 69.23–70.86 · 52w 57.05–74.84 · market cap $2.56B · NMS

## Key facts
- Valuation: P/E 12.3x (avg 11.6x at the last 3 fiscal year-ends).
- Total return with dividends: 1Y +14.3% vs S&P 500 +14.4%; 5Y +43.1% vs S&P 500 +77.0%.
- Next earnings: 2027-01-20, EPS estimate USD 1.57, revenue estimate $193M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Operating income | $96.4M | $75.3M | $44.4M | $66.9M | $72.8M | $73.3M |
| Net income | $201M | $195M | $184M | $169M | $195M | $208M |
| EPS (diluted) | $5.76 | $5.67 | $5.33 | $4.88 | $5.64 | — |
| Free cash flow | $291M | $223M | $243M | $279M | $248M | $285M |
| Cash + short-term investments | $2.13B | $243M | $254M | $502M | $423M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 12.3x · P/FCF 9.0x · P/B 1.3x · FCF yield 11.13% · Earnings yield 8.13% · Dividend yield (paid, TTM) 2.70% · Buyback yield (TTM) 1.86%
P/E at fiscal year-ends: Dec 2025 11.1x, Dec 2024 13.7x, Dec 2023 10.0x.

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-01 | Piper Sandler | Target lowered | Neutral | $74 → $71 |
| 2026-07-27 | Keefe, Bruyette & Woods | Target raised | Market Perform | $75 → $78 |
| 2026-07-27 | DA Davidson | Target raised | Neutral | $72 → $76 |
| 2026-07-09 | Benchmark | Initiated | Hold |  |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +14.3% | +43.1% |
| S&P 500 (SPY) | +14.4% | +77.0% |
| Per year | +14.3% | +7.4% |
| Volatility (annualized) | 23.8% | 28.4% |
| Max drawdown | -13.3% (Dec 2025→Mar 2026) | -43.2% (Oct 2022→Oct 2023) |

## Peers (Banks - Regional)
BBD (Banco Bradesco Sa) USD 3.89 -1.52% · FITB (Fifth Third Bancorp) USD 52.64 -1.11% · DB (Deutsche Bank AG) USD 30.87 -1.94% · TFC (Truist Financial Corporation) USD 47.96 -0.95% · NWG (NatWest Group plc) USD 16.62 -2.18% · NU (Nu Holdings Ltd.) USD 14.62 -0.73%

## More
Full page: https://nexqual.com/BANR · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Deposit Account | $25.4M | — | +2.9% |
| Credit Card Merchant Discount | $13.5M | — | +0.6% |
| Total revenue | — | 100% | — |

## Company outlook (8-K filed 2026-10-21)

- "(7) expectations regarding key growth initiatives and strategic priorities;"
- "(2) the anticipated benefits of the merger, including anticipated cost savings and earnings accretion, may not be realized or may not be realized within the expected time period;"
- "(4) merger-related and integration expenses may be greater than expected;"
- "(5) preliminary estimates of the fair value of acquired assets and assumed liabilities may change during the measurement period, and acquired loans may experience higher credit losses than anticipated;"

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $1.57 | $1.58 | -0.4% | $193.0M | 3 |
| Next quarter (ends 2027-03-31) | $1.57 | $1.60 | -2.2% | $192.5M | 4 |
| Current fiscal year (ends 2026-12-31) | $6.10 | $6.18 | -1.4% | $717.3M | 2 |
| Next fiscal year (ends 2027-12-31) | $6.72 | $6.59 | +2.0% | $794.8M | 6 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2027-02-19 (includes earnings 2027-01-20): ±11.8%; earnings reaction alone ±4.9%; last 8 reports averaged ±2.4%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 23.6% | ±7.4% |
| 2027-02-19 | 119 | 25.9% | ±11.8% |
| 2027-05-21 | 210 | 27.2% | ±16.3% |