$134.25 Million in Sales Expected for Banner Co. (BANR) This Quarter

Wall Street analysts expect that Banner Co. (NASDAQ:BANR) will announce sales of $134.25 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Banner’s earnings, with estimates ranging from $132.80 million to $137.90 million. Banner posted sales of $128.15 million in the same quarter last year, which suggests a positive year over year growth rate of 4.8%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, January 23rd.

According to Zacks, analysts expect that Banner will report full year sales of $507.87 million for the current financial year, with estimates ranging from $504.20 million to $509.40 million. For the next fiscal year, analysts expect that the firm will post sales of $560.78 million, with estimates ranging from $551.02 million to $577.70 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Banner.

Banner (NASDAQ:BANR) last announced its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.25. Banner had a net margin of 16.08% and a return on equity of 9.74%. The firm had revenue of $129.49 million during the quarter, compared to analyst estimates of $125.29 million.

BANR has been the subject of a number of research analyst reports. ValuEngine lowered shares of Banner from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. BidaskClub lowered shares of Banner from a “buy” rating to a “hold” rating in a research note on Saturday, September 15th. Sandler O’Neill reiterated a “buy” rating and issued a $70.00 price target on shares of Banner in a research note on Monday, July 30th. FIG Partners upgraded shares of Banner from a “market perform” rating to an “outperform” rating in a research note on Friday, October 26th. Finally, Piper Jaffray Companies set a $62.00 price target on shares of Banner and gave the stock a “hold” rating in a research note on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $66.00.

Shares of BANR stock traded up $0.10 during trading hours on Monday, reaching $58.89. The company had a trading volume of 69,148 shares, compared to its average volume of 157,752. Banner has a one year low of $52.10 and a one year high of $67.11. The firm has a market capitalization of $1.90 billion, a PE ratio of 19.70, a P/E/G ratio of 2.10 and a beta of 0.93. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.34.

In related news, VP Peter Conner sold 580 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $60.32, for a total value of $34,985.60. Following the transaction, the vice president now owns 24,222 shares of the company’s stock, valued at $1,461,071.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.71% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Banner by 12.8% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,718 shares of the financial services provider’s stock worth $480,000 after buying an additional 876 shares during the last quarter. Eagle Boston Investment Management Inc. boosted its holdings in shares of Banner by 1.0% in the third quarter. Eagle Boston Investment Management Inc. now owns 145,710 shares of the financial services provider’s stock worth $9,058,000 after buying an additional 1,377 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Banner in the second quarter worth approximately $103,000. IndexIQ Advisors LLC boosted its holdings in shares of Banner by 4.8% in the third quarter. IndexIQ Advisors LLC now owns 41,299 shares of the financial services provider’s stock worth $2,568,000 after buying an additional 1,880 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Banner by 4.0% in the second quarter. Swiss National Bank now owns 56,800 shares of the financial services provider’s stock worth $3,415,000 after buying an additional 2,200 shares during the last quarter. 91.36% of the stock is currently owned by institutional investors.

Banner Company Profile

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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Earnings History and Estimates for Banner (NASDAQ:BANR)

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