Wall Street analysts expect Banner Co. (NASDAQ:BANR) to post $118.23 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Banner’s earnings. The highest sales estimate is $120.40 million and the lowest is $114.48 million. Banner posted sales of $115.70 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.2%. The business is expected to report its next quarterly earnings results on Monday, April 23rd.
According to Zacks, analysts expect that Banner will report full year sales of $118.23 million for the current financial year, with estimates ranging from $481.80 million to $501.50 million. For the next year, analysts anticipate that the company will post sales of $525.92 million per share, with estimates ranging from $516.76 million to $537.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that that provide coverage for Banner.
Banner (NASDAQ:BANR) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.08). Banner had a return on equity of 7.55% and a net margin of 12.02%. The firm had revenue of $128.15 million for the quarter, compared to analyst estimates of $126.56 million.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded Banner from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Friday, January 12th. BidaskClub cut Banner from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $60.00 target price on shares of Banner in a research report on Friday, December 22nd. Sandler O’Neill reiterated a “buy” rating on shares of Banner in a research report on Friday, January 26th. Finally, Piper Jaffray reiterated a “hold” rating and set a $58.00 target price on shares of Banner in a research report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Banner presently has an average rating of “Hold” and an average target price of $60.25.
In related news, VP Cynthia D. Purcell sold 841 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $54.67, for a total value of $45,977.47. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Kenneth A. Larsen sold 884 shares of the business’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $57.53, for a total value of $50,856.52. The disclosure for this sale can be found here. Insiders sold a total of 2,137 shares of company stock worth $120,590 in the last 90 days. 1.71% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Zions Bancorporation acquired a new position in Banner during the 3rd quarter worth approximately $122,000. Xact Kapitalforvaltning AB acquired a new position in Banner during the 4th quarter worth approximately $217,000. Jane Street Group LLC acquired a new position in Banner during the 3rd quarter worth approximately $266,000. Elkfork Partners LLC acquired a new position in Banner during the 4th quarter worth approximately $245,000. Finally, Stone Ridge Asset Management LLC acquired a new position in Banner during the 4th quarter worth approximately $248,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.
Shares of BANR traded down $1.63 during midday trading on Friday, reaching $54.91. 180,420 shares of the stock were exchanged, compared to its average volume of 240,014. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95. Banner has a twelve month low of $52.07 and a twelve month high of $62.75. The stock has a market capitalization of $1,791.44, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 1.61 and a beta of 0.96.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 19th. Investors of record on Tuesday, April 10th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.55%. The ex-dividend date is Monday, April 9th. This is a boost from Banner’s previous quarterly dividend of $0.25. Banner’s payout ratio is 33.44%.
Banner declared that its Board of Directors has initiated a stock buyback plan on Wednesday, March 28th that authorizes the company to repurchase 1,620,000 outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
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Banner Company Profile
Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank, which provides commercial banking and financial products and services to individuals, businesses, and public sector entities primarily in the United States. It offers deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, regular savings accounts, and certificates of deposit, as well as treasury management services and retirement savings plans.
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