Zacks: Brokerages Expect Banner Co. (NASDAQ:BANR) Will Post Earnings of $1.05 Per Share

Brokerages predict that Banner Co. (NASDAQ:BANR) will report earnings per share (EPS) of $1.05 for the current quarter, according to Zacks. Four analysts have issued estimates for Banner’s earnings. The lowest EPS estimate is $1.00 and the highest is $1.08. Banner posted earnings per share of $1.00 in the same quarter last year, which suggests a positive year-over-year growth rate of 5%. The company is scheduled to announce its next quarterly earnings report on Wednesday, July 24th.

According to Zacks, analysts expect that Banner will report full-year earnings of $4.05 per share for the current fiscal year, with EPS estimates ranging from $3.90 to $4.12. For the next year, analysts expect that the company will post earnings of $4.26 per share, with EPS estimates ranging from $4.05 to $4.54. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Banner.

Banner (NASDAQ:BANR) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.99 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.07). Banner had a return on equity of 10.39% and a net margin of 24.74%. The firm had revenue of $134.23 million during the quarter, compared to the consensus estimate of $139.04 million.

BANR has been the subject of several recent analyst reports. BidaskClub cut shares of Xilinx from a “buy” rating to a “hold” rating in a research report on Saturday, June 15th. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Raymond James set a $60.00 target price on shares of Banner and gave the stock a “buy” rating in a research report on Friday, May 3rd. DA Davidson upped their target price on shares of Slack to $31.00 and gave the stock an “average” rating in a research report on Tuesday, June 11th. Finally, Zacks Investment Research upgraded shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Banner currently has an average rating of “Hold” and an average price target of $61.50.

NASDAQ BANR traded up $0.36 on Friday, hitting $54.59. The stock had a trading volume of 73,277 shares, compared to its average volume of 183,675. Banner has a one year low of $48.50 and a one year high of $67.11. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $1.92 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 1.86 and a beta of 0.77. The firm’s 50-day simple moving average is $52.89.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Tuesday, July 9th will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.00%. The ex-dividend date is Monday, July 8th. Banner’s dividend payout ratio (DPR) is 40.10%.

In other Banner news, VP Steven W. Rust sold 491 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $53.39, for a total value of $26,214.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.51% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its holdings in shares of Banner by 47.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 563 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 182 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Banner by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 12,204 shares of the financial services provider’s stock valued at $661,000 after acquiring an additional 220 shares in the last quarter. Mason Street Advisors LLC boosted its holdings in shares of Banner by 2.5% in the first quarter. Mason Street Advisors LLC now owns 10,034 shares of the financial services provider’s stock valued at $544,000 after acquiring an additional 247 shares in the last quarter. Texas Permanent School Fund boosted its holdings in shares of Banner by 1.4% in the fourth quarter. Texas Permanent School Fund now owns 20,622 shares of the financial services provider’s stock valued at $1,103,000 after acquiring an additional 281 shares in the last quarter. Finally, Comerica Bank boosted its holdings in shares of Banner by 1.2% in the first quarter. Comerica Bank now owns 31,266 shares of the financial services provider’s stock valued at $1,726,000 after acquiring an additional 360 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

About Banner

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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