Zacks: Analysts Expect Banner Co. (BANR) Will Post Quarterly Sales of $125.29 Million

Equities analysts predict that Banner Co. (NASDAQ:BANR) will post sales of $125.29 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Banner’s earnings. The highest sales estimate is $127.40 million and the lowest is $122.95 million. Banner posted sales of $120.55 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.9%. The firm is expected to issue its next earnings report after the market closes on Wednesday, October 24th.

According to Zacks, analysts expect that Banner will report full-year sales of $499.13 million for the current financial year, with estimates ranging from $496.70 million to $504.30 million. For the next year, analysts forecast that the firm will report sales of $562.81 million, with estimates ranging from $551.62 million to $572.10 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:BANR) last posted its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.14. Banner had a net margin of 14.02% and a return on equity of 8.59%. The company had revenue of $124.28 million during the quarter, compared to the consensus estimate of $121.15 million.

BANR has been the subject of several recent analyst reports. BidaskClub downgraded shares of Banner from a “hold” rating to a “sell” rating in a research note on Saturday, September 29th. Stephens reiterated a “hold” rating and issued a $68.00 target price on shares of Banner in a research note on Thursday, September 6th. Sandler O’Neill reiterated a “buy” rating and issued a $70.00 target price on shares of Banner in a research note on Monday, July 30th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $61.00 target price on shares of Banner in a research note on Friday, July 13th. Finally, Zacks Investment Research upgraded shares of Banner from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research note on Tuesday, June 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $65.20.

Banner stock opened at $61.88 on Monday. Banner has a one year low of $52.20 and a one year high of $67.11. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a market cap of $2.01 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 1.69 and a beta of 0.90.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 19th. Investors of record on Wednesday, October 10th will be paid a $0.38 dividend. This is an increase from Banner’s previous quarterly dividend of $0.35. This represents a $1.52 annualized dividend and a yield of 2.46%. The ex-dividend date is Tuesday, October 9th. Banner’s dividend payout ratio (DPR) is 46.82%.

A number of large investors have recently modified their holdings of BANR. Itau Unibanco Holding S.A. bought a new position in Banner in the 2nd quarter valued at about $103,000. SG Americas Securities LLC bought a new position in Banner in the 1st quarter valued at about $120,000. Ramsey Quantitative Systems bought a new position in Banner in the 2nd quarter valued at about $325,000. Profund Advisors LLC raised its holdings in Banner by 21.3% in the 1st quarter. Profund Advisors LLC now owns 6,241 shares of the financial services provider’s stock valued at $346,000 after acquiring an additional 1,098 shares during the period. Finally, Xact Kapitalforvaltning AB raised its holdings in Banner by 60.9% in the 1st quarter. Xact Kapitalforvaltning AB now owns 6,344 shares of the financial services provider’s stock valued at $352,000 after acquiring an additional 2,400 shares during the period. Institutional investors and hedge funds own 91.94% of the company’s stock.

About Banner

Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank, which 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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