$136.07 Million in Sales Expected for Banner Co. (NASDAQ:BANR) This Quarter

Equities analysts expect that Banner Co. (NASDAQ:BANR) will announce $136.07 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Banner’s earnings. The highest sales estimate is $136.10 million and the lowest is $136.00 million. Banner reported sales of $129.49 million in 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 quarterly 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 financial year, with estimates ranging from $547.30 million to $548.90 million. For the next year, analysts anticipate that the business will post sales of $581.60 million, with estimates ranging from $578.30 million to $585.90 million. Zacks’ sales averages are an average based on a survey of analysts that follow Banner.

Banner (NASDAQ:BANR) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the 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 analyst estimates of $137.47 million.

A number of research analysts have recently commented on BANR shares. Raymond James decreased their price objective on shares of Banner from $64.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. ValuEngine raised shares of Banner from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised shares of Banner from a “sell” rating to a “hold” rating in a research report on Monday. Stephens reissued a “hold” rating on shares of Banner in a research report on Thursday, July 25th. Finally, BidaskClub downgraded shares of Banner from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $60.00.

In other Banner news, Director John R. Layman sold 500 shares of Banner stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $55.17, for a total value of $27,585.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Cynthia D. Purcell sold 2,039 shares of Banner stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $54.19, for a total transaction of $110,493.41. The disclosure for this sale can be found here. Insiders sold a total of 3,039 shares of company stock valued at $168,078 in the last quarter. Corporate insiders own 2.51% of the company’s stock.

Several large investors have recently modified their holdings of BANR. US Bancorp DE increased its position in Banner by 6.4% during the 2nd quarter. US Bancorp DE now owns 3,642 shares of the financial services provider’s stock worth $197,000 after purchasing an additional 218 shares in the last quarter. Bank of Montreal Can grew its holdings in Banner by 205.8% during the 2nd quarter. Bank of Montreal Can now owns 4,186 shares of the financial services provider’s stock worth $227,000 after acquiring an additional 2,817 shares during the last quarter. Bbva USA Bancshares Inc. grew its holdings in Banner by 20.7% during the 2nd quarter. Bbva USA Bancshares Inc. now owns 5,449 shares of the financial services provider’s stock worth $295,000 after acquiring an additional 934 shares during the last quarter. A.R.T. Advisors LLC bought a new stake in Banner during the 2nd quarter worth approximately $306,000. Finally, Ellington Management Group LLC bought a new stake in Banner during the 2nd quarter worth approximately $309,000. Institutional investors own 83.73% of the company’s stock.

Shares of BANR traded up $1.24 during midday trading on Friday, reaching $53.82. The stock had a trading volume of 23,425 shares, compared to its average volume of 204,581. The firm has a 50 day simple moving average of $54.94 and a 200-day simple moving average of $54.33. Banner has a one year low of $48.50 and a one year high of $64.20. The firm has a market cap of $1.80 billion, a PE ratio of 13.16, a P/E/G ratio of 1.75 and a beta of 0.84. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Wednesday, October 9th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Tuesday, October 8th. Banner’s dividend payout ratio (DPR) 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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