) crafted a new 52-week high, touching $39.95 in the first half
of the trading session on Nov 18. However, the stock closed the
session at $39.81, which reflects a solid year-to-date return of
29.3%. The trading volume for the session was 72,621 shares.
Despite hitting its 52-week high, this Zacks Rank #3 (Hold) stock
has plenty of upside left, given its strong estimate revisions
over the last 30 days and expected long-term earnings growth of
Impressive third-quarter 2013 results including significant
improvement in the credit quality as well as a strong capital
position were the primary growth drivers for Banner Corporation.
On Oct 23, Banner Corporation reported its third-quarter 2013
earnings of 60 cents per share, in line with the Zacks Consensus
Estimate. However, results were below the prior-year quarter
earnings of 79 cents.
A year-over-year increase of 5.5% in net interest income and a
substantial rise in deposits and loans were the tailwinds for the
quarter. Asset quality exhibited marked improvement with
nonperforming assets declining almost 50% year over year. Also,
provision for loan losses was nil and net charge off declined 14
bps to 0.01%.
Moreover, the company's capital ratios remained strong.
However, a 13.2% dip in other operating income and an increase of
3.1% in operating expenses acted as headwinds for the quarter.
BANNER CORP (BANR): Free Stock Analysis
MERIDIAN INTRST (EBSB): Free Stock Analysis
INVESTORS BANCP (ISBC): Free Stock Analysis
MUTUALFIRST FIN (MFSF): Free Stock Analysis
To read this article on Zacks.com click here.
Estimate Revisions Show Potency
Over the last 30 days, 5 out of 5 estimates for 2013 have been
revised upward, lifting the Zacks Consensus Estimate by 3.35% to
$2.47 per share. For 2014, 2 out of 5 estimates moved north,
helping the Zacks Consensus Estimate advance roughly 1% to $2.34
Some better performing Savings and Loan Institutes include
Investors Bancorp Inc.
Meridian Interstate Bancorp, Inc
Mutualfirst Financial Inc.
). All these companies carry a Zacks Rank #1 (Strong Buy).