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

Brokerages predict that Banner Co. (NASDAQ:BANRGet Rating) will report $140.32 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Banner’s earnings, with the highest sales estimate coming in at $143.46 million and the lowest estimate coming in at $134.90 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 firm is expected to issue 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 year, analysts anticipate that the company will report sales of $611.85 million, with estimates ranging from $573.60 million to $635.55 million. Zacks’ sales averages are a mean average based on a survey of 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, topping analysts’ consensus estimates of $1.09 by $0.24. The business had revenue of $138.08 million for 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 period in the prior year, the firm posted $1.33 earnings per share.

BANR has been the topic of several research reports. Raymond James cut their target price on Banner from $72.00 to $70.00 and set a “strong-buy” rating on the stock in a research report on Friday, April 22nd. StockNews.com initiated coverage on Banner in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research raised Banner from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Monday, March 28th. Finally, Stephens upped their target price on Banner from $64.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, April 25th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Banner currently has an average rating of “Buy” and a consensus price target of $66.00.

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

Several hedge funds have recently bought and sold shares of BANR. Private Ocean LLC purchased a new stake in shares of Banner during the 1st quarter worth about $27,000. CWM LLC boosted its stake in shares of Banner by 116.7% during the 1st quarter. CWM LLC now owns 505 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 272 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Banner during the 4th quarter worth about $35,000. Point72 Hong Kong Ltd purchased a new stake in shares of Banner during the 3rd quarter worth about $90,000. Finally, KBC Group NV purchased a new stake in shares of Banner during the 1st quarter worth about $106,000. 85.00% of the stock is currently owned by institutional investors and hedge funds.

Shares of BANR stock opened at $54.70 on Friday. 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 business’s fifty day simple moving average is $55.50 and its 200-day simple moving average is $42.86. Banner has a 12-month low of $49.10 and a 12-month high of $66.79. The company has a market cap of $1.88 billion, a PE ratio of 9.58 and a beta of 1.03.

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

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.

Further Reading

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