Zacks: Analysts Anticipate Banner Co. (NASDAQ:BANR) to Post $1.20 EPS

Analysts expect that Banner Co. (NASDAQ:BANRGet Rating) will post $1.20 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Banner’s earnings, with estimates ranging from $1.18 to $1.25. Banner reported earnings per share of $1.56 during the same quarter last year, which suggests a negative year over year growth rate of 23.1%. The company is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Banner will report full year earnings of $5.01 per share for the current financial year, with EPS estimates ranging from $4.80 to $5.26. For the next financial year, analysts expect that the business will report earnings of $5.57 per share, with EPS estimates ranging from $5.30 to $6.00. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Banner.

Banner (NASDAQ:BANRGet Rating) last announced its quarterly earnings data on Wednesday, April 20th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.24. The firm had revenue of $138.08 million for the quarter, compared to analyst estimates of $136.20 million. Banner had a net margin of 32.46% and a return on equity of 12.47%. During the same period in the previous year, the company earned $1.33 earnings per share.

A number of research analysts have weighed in on BANR shares. Zacks Investment Research upgraded shares of Banner from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Monday, March 28th. StockNews.com assumed coverage on shares of Banner in a research note on Thursday, March 31st. They set a “hold” rating for the company. Stephens upped their price objective on shares of Banner from $64.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, April 25th. Finally, Raymond James decreased their price objective on shares of Banner from $72.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Friday, April 22nd. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $66.00.

NASDAQ BANR opened at $54.41 on Friday. The company has a market capitalization of $1.86 billion, a PE ratio of 9.53 and a beta of 1.03. The company has a fifty day moving average of $55.53 and a 200 day moving average of $42.49. Banner has a 1 year low of $49.10 and a 1 year high of $66.79. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.78 and a quick ratio of 0.77.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Shareholders of record on Tuesday, May 3rd will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, May 2nd. This represents a $1.76 dividend on an annualized basis and a yield of 3.23%. Banner’s dividend payout ratio (DPR) is presently 30.82%.

In other news, VP Kenneth William Johnson sold 2,900 shares of the firm’s stock in a transaction on Monday, March 14th. The shares were sold at an average price of $61.50, for a total value of $178,350.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Roberto R. Herencia acquired 1,800 shares of Banner stock in a transaction dated Monday, May 2nd. The stock was purchased at an average price of $54.73 per share, for a total transaction of $98,514.00. Following the completion of the acquisition, the director now directly owns 8,628 shares in the company, valued at approximately $472,210.44. The disclosure for this purchase can be found here. 1.46% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Great West Life Assurance Co. Can raised its holdings in shares of Banner by 1.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 30,353 shares of the financial services provider’s stock valued at $1,820,000 after purchasing an additional 549 shares in the last quarter. BlackRock Inc. grew its position in shares of Banner by 1.5% in the 1st quarter. BlackRock Inc. now owns 5,045,063 shares of the financial services provider’s stock valued at $295,288,000 after buying an additional 72,304 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Banner by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,529 shares of the financial services provider’s stock valued at $1,728,000 after buying an additional 3,641 shares during the last quarter. Rhumbline Advisers grew its position in shares of Banner by 0.5% in the 1st quarter. Rhumbline Advisers now owns 96,156 shares of the financial services provider’s stock valued at $5,628,000 after buying an additional 460 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its position in shares of Banner by 1.0% in the 1st quarter. Panagora Asset Management Inc. now owns 234,428 shares of the financial services provider’s stock valued at $13,721,000 after buying an additional 2,322 shares during the last quarter. Institutional investors and hedge funds own 85.00% of the company’s stock.

About Banner (Get Rating)

Banner Corporation operates as the bank holding company for Banner Bank that provide commercial banking and financial products and services to individuals, businesses, and public sector entities in the United States. It accepts various deposit instruments, 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.

Further Reading

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