Analysts forecast that Banner Corporation (NASDAQ:BANR) will report sales of $124.60 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Banner’s earnings, with estimates ranging from $119.80 million to $130.09 million. Banner posted sales of $116.63 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.8%. The firm is scheduled to report its next earnings report on Wednesday, January 24th.
On average, analysts expect that Banner will report full year sales of $124.60 million for the current fiscal year, with estimates ranging from $478.20 million to $488.52 million. For the next fiscal year, analysts expect that the firm will report sales of $498.15 million per share, with estimates ranging from $485.25 million to $514.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Banner.
Banner (NASDAQ:BANR) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.76 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.01). The company had revenue of $120.55 million for the quarter, compared to analyst estimates of $123.58 million. Banner had a return on equity of 7.52% and a net margin of 19.70%.
Several equities analysts recently commented on the company. DA Davidson lowered Banner from a “buy” rating to a “neutral” rating in a research report on Thursday, October 26th. ValuEngine lowered Banner from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Piper Jaffray Companies reissued a “neutral” rating on shares of Banner in a research report on Friday, October 27th. Zacks Investment Research lowered Banner from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Finally, Stephens assumed coverage on Banner in a research report on Wednesday, September 13th. They set an “equal weight” rating and a $60.00 price target on the stock. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $60.67.
In related news, Director Gary Sirmon sold 3,335 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $57.49, for a total transaction of $191,729.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 3,936 shares of company stock worth $226,039 over the last three months. 1.71% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in shares of Banner by 6.0% in the 2nd quarter. BlackRock Inc. now owns 3,925,169 shares of the financial services provider’s stock valued at $221,812,000 after purchasing an additional 221,159 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Banner by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,760,603 shares of the financial services provider’s stock valued at $156,002,000 after purchasing an additional 27,376 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Banner by 4.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,405,805 shares of the financial services provider’s stock valued at $147,428,000 after purchasing an additional 110,369 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Banner by 4.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,008,608 shares of the financial services provider’s stock valued at $123,086,000 after purchasing an additional 92,317 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of Banner in the 2nd quarter valued at approximately $77,217,000. 91.62% of the stock is currently owned by institutional investors.
Banner (BANR) traded down $0.44 during trading on Friday, reaching $56.79. The company had a trading volume of 94,215 shares, compared to its average volume of 154,001. The firm has a market cap of $1,922.46, a price-to-earnings ratio of 19.66, a PEG ratio of 2.09 and a beta of 1.06. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.35. Banner has a 12-month low of $51.61 and a 12-month high of $62.75.
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Banner Company Profile
Banner Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its subsidiaries, Banner Bank and Islanders Bank. Banner Bank is a Washington-chartered commercial bank. Banner Bank is a regional bank, which offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its primary market areas.
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