Banner Co. (NASDAQ:BANR) Expected to Announce Quarterly Sales of $140.32 Million

Equities analysts forecast that Banner Co. (NASDAQ:BANRGet Rating) will post sales of $140.32 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Banner’s earnings. The lowest sales estimate is $134.90 million and the highest is $143.46 million. Banner posted sales of $149.89 million during the same quarter last year, which suggests a negative year-over-year growth rate of 6.4%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Banner will report full year sales of $566.91 million for the current fiscal year, with estimates ranging from $545.50 million to $579.03 million. For the next fiscal year, analysts expect that the firm will post sales of $611.85 million, with estimates ranging from $573.60 million to $635.55 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Banner.

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

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

Shares of BANR opened at $54.70 on Friday. The company has a market cap of $1.88 billion, a PE ratio of 9.58 and a beta of 1.03. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average price of $55.50 and a 200-day moving average price of $42.86. Banner has a 12-month low of $49.10 and a 12-month high of $66.79.

The business also recently declared a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Tuesday, May 3rd were paid a $0.44 dividend. The ex-dividend date was Monday, May 2nd. This represents a $1.76 dividend on an annualized basis and a yield of 3.22%. Banner’s dividend payout ratio (DPR) is currently 30.82%.

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

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Banner by 1.5% during the first 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 period. Vanguard Group Inc. increased its stake in shares of Banner by 1.9% during the first quarter. Vanguard Group Inc. now owns 3,854,556 shares of the financial services provider’s stock valued at $225,607,000 after buying an additional 71,559 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Banner by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,311,340 shares of the financial services provider’s stock valued at $135,284,000 after buying an additional 30,439 shares during the period. TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new position in shares of Banner during the fourth quarter valued at approximately $14,494,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Banner by 4.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,264,802 shares of the financial services provider’s stock valued at $76,736,000 after buying an additional 56,029 shares during the period. 85.00% of the stock is currently owned by hedge funds and other institutional investors.

Banner Company Profile (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.

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