Banner Co. (NASDAQ:BANR) Expected to Announce Quarterly Sales of $136.07 Million

Brokerages forecast that Banner Co. (NASDAQ:BANR) will report sales of $136.07 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Banner’s earnings, with the highest sales estimate coming in at $136.10 million and the lowest estimate coming in at $136.00 million. Banner reported sales of $129.49 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.1%. The company is expected to announce its next earnings results after the market closes on Wednesday, October 23rd.

On average, analysts expect that Banner will report full year sales of $548.37 million for the current fiscal year, with estimates ranging from $547.30 million to $548.90 million. For the next year, analysts expect that the business will post sales of $581.60 million, with estimates ranging from $578.30 million to $585.90 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Banner.

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

Several research analysts have weighed in on BANR shares. Zacks Investment Research upgraded shares of Banner from a “sell” rating to a “hold” rating in a report on Monday. BidaskClub downgraded shares of Banner from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Raymond James lowered their target price on shares of Banner from $64.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. Stephens reiterated a “hold” rating on shares of Banner in a report on Thursday, July 25th. Finally, ValuEngine upgraded shares of Banner from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Banner has an average rating of “Hold” and a consensus price target of $60.00.

BANR traded up $1.24 during trading on Friday, hitting $53.82. 23,425 shares of the company’s stock were exchanged, compared to its average volume of 204,581. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average is $54.94 and its two-hundred day moving average is $54.33. Banner has a fifty-two week low of $48.50 and a fifty-two week high of $64.20. The stock has a market cap of $1.80 billion, a P/E ratio of 13.16, a PEG ratio of 1.75 and a beta of 0.84.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Wednesday, October 9th will be issued a $0.41 dividend. The ex-dividend date is Tuesday, October 8th. This represents a $1.64 annualized dividend and a dividend yield of 3.05%. Banner’s dividend payout ratio is currently 40.10%.

In related news, VP Cynthia D. Purcell sold 2,039 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $54.19, for a total transaction of $110,493.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John R. Layman sold 500 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $55.17, for a total transaction of $27,585.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,039 shares of company stock valued at $168,078. 2.51% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares 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 worth $274,320,000 after purchasing an additional 317,182 shares during the period. Citadel Advisors LLC boosted its position in Banner by 51.5% during the second quarter. Citadel Advisors LLC now owns 595,236 shares of the financial services provider’s stock worth $32,232,000 after purchasing an additional 202,287 shares during the period. UBS Group AG boosted its position in Banner by 4,112.0% during the second quarter. UBS Group AG now owns 149,738 shares of the financial services provider’s stock worth $8,108,000 after purchasing an additional 146,183 shares during the period. Nuveen Asset Management LLC boosted its position in Banner by 13.2% during the second quarter. Nuveen Asset Management LLC now owns 968,932 shares of the financial services provider’s stock worth $52,468,000 after purchasing an additional 113,090 shares during the period. Finally, Morgan Stanley boosted its position in Banner by 133.7% during the second quarter. Morgan Stanley now owns 143,792 shares of the financial services provider’s stock worth $7,786,000 after purchasing an additional 82,264 shares during the period. Institutional investors own 83.73% of the company’s stock.

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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