Analysts Anticipate Banner Co. (BANR) Will Post Quarterly Sales of $129.71 Million

Equities research analysts expect Banner Co. (NASDAQ:BANR) to report sales of $129.71 million for the current quarter, according to Zacks. Four analysts have provided estimates for Banner’s earnings, with the highest sales estimate coming in at $135.60 million and the lowest estimate coming in at $126.50 million. Banner posted sales of $128.15 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.2%. The firm is scheduled to report its next earnings report on Wednesday, January 23rd.

According to Zacks, analysts expect that Banner will report full year sales of $499.13 million for the current fiscal year, with estimates ranging from $496.70 million to $504.29 million. For the next financial year, analysts forecast that the business will report sales of $562.81 million, with estimates ranging from $551.62 million to $572.10 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Banner.

Banner (NASDAQ:BANR) last announced its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.25. Banner had a return on equity of 9.74% and a net margin of 16.08%. The business had revenue of $129.49 million for the quarter, compared to analysts’ expectations of $125.29 million.

Several equities research analysts have recently weighed in on BANR shares. BidaskClub upgraded Banner from a “hold” rating to a “buy” rating in a research report on Saturday, September 8th. Sandler O’Neill reiterated a “buy” rating and set a $70.00 price target on shares of Banner in a research report on Monday, July 30th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $61.00 price target on shares of Banner in a research report on Friday, July 13th. Stephens reiterated a “hold” rating and set a $68.00 price target on shares of Banner in a research report on Thursday, September 6th. Finally, FIG Partners upgraded Banner from a “market perform” rating to an “outperform” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $65.20.

Several hedge funds and other institutional investors have recently modified their holdings of BANR. Itau Unibanco Holding S.A. purchased a new position in shares of Banner during the second quarter worth about $103,000. Ramsey Quantitative Systems purchased a new position in shares of Banner during the second quarter worth about $325,000. Xact Kapitalforvaltning AB grew its holdings in shares of Banner by 60.9% during the first quarter. Xact Kapitalforvaltning AB now owns 6,344 shares of the financial services provider’s stock worth $352,000 after purchasing an additional 2,400 shares in the last quarter. UBS Group AG grew its holdings in shares of Banner by 93.8% during the first quarter. UBS Group AG now owns 6,685 shares of the financial services provider’s stock worth $371,000 after purchasing an additional 3,236 shares in the last quarter. Finally, A.R.T. Advisors LLC purchased a new position in shares of Banner during the first quarter worth about $377,000. 91.57% of the stock is owned by institutional investors.

Shares of BANR opened at $58.28 on Thursday. Banner has a twelve month low of $52.10 and a twelve month high of $67.11. The stock has a market cap of $1.86 billion, a PE ratio of 19.49, a P/E/G ratio of 1.54 and a beta of 0.90. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.26.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 19th. Stockholders of record on Wednesday, October 10th were issued a dividend of $0.38 per share. This is a positive change from Banner’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Tuesday, October 9th. This represents a $1.52 annualized dividend and a dividend yield of 2.61%. Banner’s payout ratio is presently 50.84%.

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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