Zacks: Analysts Expect Banner Co. (NASDAQ:BANR) Will Announce Quarterly Sales of $140.32 Million

Wall Street analysts expect Banner Co. (NASDAQ:BANRGet Rating) to announce $140.32 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Banner’s earnings, with estimates ranging from $134.90 million to $143.46 million. Banner reported sales of $149.89 million during the same quarter last year, which indicates a negative year over year growth rate of 6.4%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, 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 financial year, analysts forecast that the business will report sales of $611.85 million, with estimates ranging from $573.60 million to $635.55 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that that provide coverage for Banner.

Banner (NASDAQ:BANRGet Rating) last announced its 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. Banner had a net margin of 32.46% and a return on equity of 12.47%. The company had revenue of $138.08 million for the quarter, compared to analyst estimates of $136.20 million. During the same period in the prior year, the business earned $1.33 earnings per share.

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

NASDAQ:BANR traded up $0.34 during trading hours on Friday, hitting $54.51. The stock had a trading volume of 141,200 shares, compared to its average volume of 182,386. The business’s 50 day moving average is $55.34 and its 200-day moving average is $44.04. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.77 and a current ratio of 0.78. Banner has a one year low of $49.10 and a one year high of $66.79. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 9.55 and a beta of 1.03.

The company also recently announced a quarterly dividend, which was paid on Friday, May 13th. Stockholders 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 annualized dividend and a dividend yield of 3.23%. Banner’s dividend payout ratio is presently 30.82%.

In related news, Director Roberto R. Herencia purchased 1,800 shares of the stock in a transaction that occurred on Monday, May 2nd. The shares were bought at an average price of $54.73 per share, with a total value of $98,514.00. Following the acquisition, the director now owns 8,628 shares of the company’s stock, valued at approximately $472,210.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $178,350.00. The disclosure for this sale can be found here. 1.46% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the stock. Captrust Financial Advisors grew its position in Banner by 6.2% in the first quarter. Captrust Financial Advisors now owns 6,571 shares of the financial services provider’s stock worth $385,000 after acquiring an additional 382 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Banner during the first quarter valued at about $20,165,000. State Street Corp raised its stake in Banner by 7.4% in the first quarter. State Street Corp now owns 1,821,229 shares of the financial services provider’s stock worth $106,597,000 after buying an additional 124,919 shares in the last quarter. Engineers Gate Manager LP bought a new position in Banner in the first quarter worth about $275,000. Finally, Invesco Ltd. raised its stake in Banner by 26.7% in the first quarter. Invesco Ltd. now owns 221,580 shares of the financial services provider’s stock worth $12,969,000 after buying an additional 46,746 shares in the last quarter. Institutional investors 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.

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