$135.94 Million in Sales Expected for Banner Co. (NASDAQ:BANR) This Quarter

Equities analysts predict that Banner Co. (NASDAQ:BANR) will post sales of $135.94 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Banner’s earnings, with the highest sales estimate coming in at $137.80 million and the lowest estimate coming in at $133.57 million. Banner reported sales of $129.49 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5%. The company is expected to report its next earnings results on Wednesday, October 23rd.

According to Zacks, analysts expect that Banner will report full-year sales of $545.83 million for the current year, with estimates ranging from $537.83 million to $550.50 million. For the next fiscal year, analysts forecast that the company will post sales of $571.54 million, with estimates ranging from $557.08 million to $584.20 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Banner.

Banner (NASDAQ:BANR) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.09. The company had revenue of $137.37 million for the quarter, compared to analyst estimates of $137.47 million. Banner had a return on equity of 10.43% and a net margin of 25.14%.

A number of research firms have recently issued reports on BANR. Raymond James set a $60.00 price target on Banner and gave the stock a “buy” rating in a research report on Friday, May 3rd. ValuEngine raised Banner from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. BidaskClub raised Banner from a “hold” rating to a “buy” rating in a research report on Friday. Stephens reissued a “hold” rating on shares of Banner in a research report on Thursday, July 25th. Finally, DA Davidson raised Banner from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 11th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Banner currently has a consensus rating of “Buy” and an average price target of $59.50.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its position in Banner by 6.7% during the first quarter. BlackRock Inc. now owns 5,064,064 shares of the financial services provider’s stock valued at $274,320,000 after purchasing an additional 317,182 shares in the last quarter. FMR LLC raised its stake in Banner by 15.8% in the fourth quarter. FMR LLC now owns 855,555 shares of the financial services provider’s stock valued at $45,755,000 after buying an additional 116,455 shares during the last quarter. Norges Bank purchased a new stake in Banner in the fourth quarter valued at about $24,271,000. Geode Capital Management LLC raised its stake in Banner by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 366,324 shares of the financial services provider’s stock valued at $19,591,000 after buying an additional 16,062 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in Banner by 90.7% in the first quarter. Acadian Asset Management LLC now owns 208,316 shares of the financial services provider’s stock valued at $11,287,000 after buying an additional 99,087 shares during the last quarter. 83.77% of the stock is currently owned by institutional investors.

Shares of BANR traded down $0.44 during midday trading on Monday, reaching $56.76. 123,971 shares of the stock were exchanged, compared to its average volume of 131,485. Banner has a 52 week low of $48.50 and a 52 week high of $67.11. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.97 and a quick ratio of 0.95. The firm has a 50 day moving average price of $54.60. The company has a market capitalization of $2.08 billion, a P/E ratio of 13.88, a P/E/G ratio of 2.02 and a beta of 0.79.

The company also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Tuesday, July 9th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend was Monday, July 8th. Banner’s payout ratio is 40.10%.

Banner Company Profile

Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank that 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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Earnings History and Estimates for Banner (NASDAQ:BANR)

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