Wall Street brokerages expect that Banner Co. (NASDAQ:BANR) will report earnings of $0.76 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Banner’s earnings, with the highest EPS estimate coming in at $0.83 and the lowest estimate coming in at $0.64. Banner reported earnings of $0.73 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.1%. The company is expected to report its next quarterly earnings results after the market closes on Monday, April 23rd.
According to Zacks, analysts expect that Banner will report full-year earnings of $3.42 per share for the current year, with EPS estimates ranging from $3.10 to $3.60. For the next financial year, analysts anticipate that the company will post earnings of $3.74 per share, with EPS estimates ranging from $3.60 to $3.85. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Banner.
Banner (NASDAQ:BANR) last released its earnings results on Wednesday, January 24th. The financial services provider reported $0.71 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $126.56 million.
A number of research firms have commented on BANR. Zacks Investment Research raised Banner from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a 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 price target 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 price target on shares of Banner in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $60.25.
NASDAQ:BANR traded up $0.01 during trading hours on Monday, reaching $55.98. 163,714 shares of the stock were exchanged, compared to its average volume of 177,684. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.15. Banner has a 52 week low of $52.07 and a 52 week high of $62.75. The company has a market cap of $1,826.01, a PE ratio of 18.72, a P/E/G ratio of 1.64 and a beta of 0.96.
Banner announced that its board has approved a stock repurchase plan on Wednesday, March 28th that allows the company to repurchase 1,620,000 outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 19th. Investors of record on Tuesday, April 10th were given a $0.35 dividend. This is a boost from Banner’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a yield of 2.50%. The ex-dividend date was Monday, April 9th. Banner’s dividend payout ratio (DPR) is currently 46.82%.
In related news, VP Kenneth A. Larsen sold 884 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $57.53, for a total value of $50,856.52. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Cynthia D. Purcell sold 841 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $54.67, for a total value of $45,977.47. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,137 shares of company stock worth $120,590. 1.71% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund increased its position in Banner by 1.0% in the 3rd quarter. New York State Common Retirement Fund now owns 95,317 shares of the financial services provider’s stock valued at $5,841,000 after acquiring an additional 951 shares during the period. AlphaOne Investment Services LLC boosted its stake in shares of Banner by 1.4% during the 4th quarter. AlphaOne Investment Services LLC now owns 80,392 shares of the financial services provider’s stock worth $4,431,000 after acquiring an additional 1,097 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of Banner by 18.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 9,700 shares of the financial services provider’s stock worth $535,000 after buying an additional 1,500 shares during the period. Piedmont Investment Advisors LLC boosted its position in shares of Banner by 27.5% in the third quarter. Piedmont Investment Advisors LLC now owns 7,231 shares of the financial services provider’s stock worth $443,000 after buying an additional 1,561 shares during the period. Finally, Swiss National Bank boosted its position in shares of Banner by 4.2% in the fourth quarter. Swiss National Bank now owns 54,600 shares of the financial services provider’s stock worth $3,010,000 after buying an additional 2,200 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.
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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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