Banner Co. (BANR) Expected to Announce Earnings of $1.05 Per Share

Equities research analysts expect Banner Co. (NASDAQ:BANR) to announce earnings of $1.05 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Banner’s earnings. The highest EPS estimate is $1.09 and the lowest is $0.99. Banner reported earnings of $0.71 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 47.9%. The business is expected to announce its next quarterly earnings report on Wednesday, January 23rd.

According to Zacks, analysts expect that Banner will report full-year earnings of $4.01 per share for the current year, with EPS estimates ranging from $3.95 to $4.04. For the next financial year, analysts forecast that the firm will post earnings of $4.30 per share, with EPS estimates ranging from $4.15 to $4.44. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover Banner.

Banner (NASDAQ:BANR) last released its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $1.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.25. Banner had a net margin of 16.08% and a return on equity of 9.74%. The business had revenue of $129.49 million for the quarter, compared to the consensus estimate of $125.29 million.

BANR has been the subject of several recent research reports. BidaskClub downgraded Banner from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 24th. ValuEngine downgraded shares of Banner from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. Stephens reaffirmed a “hold” rating and set a $68.00 price objective on shares of Banner in a research report on Thursday, September 6th. FIG Partners upgraded Banner from a “market perform” rating to an “outperform” rating in a report on Friday, October 26th. Finally, Piper Jaffray Companies set a $62.00 target price on Banner and gave the stock a “hold” rating in a report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $66.00.

BANR stock opened at $58.21 on Monday. The stock has a market capitalization of $1.88 billion, a PE ratio of 19.47, a P/E/G ratio of 2.08 and a beta of 0.89. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.93 and a quick ratio of 0.92. Banner has a 12 month low of $52.10 and a 12 month high of $67.11.

In other Banner news, VP Peter Conner sold 580 shares of the business’s stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $60.32, for a total value of $34,985.60. Following the completion of the sale, the vice president now owns 24,222 shares in the company, valued at $1,461,071.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.71% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its position in Banner by 0.9% in the third quarter. BlackRock Inc. now owns 4,768,338 shares of the financial services provider’s stock worth $296,446,000 after buying an additional 42,392 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Banner by 1.4% during the third quarter. Vanguard Group Inc. now owns 3,238,908 shares of the financial services provider’s stock worth $201,362,000 after purchasing an additional 44,999 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Banner by 2.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,662,581 shares of the financial services provider’s stock valued at $165,533,000 after buying an additional 73,201 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Banner by 2.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 954,170 shares of the financial services provider’s stock valued at $59,321,000 after buying an additional 20,222 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Banner by 15.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 934,512 shares of the financial services provider’s stock valued at $58,100,000 after buying an additional 124,830 shares in the last quarter. 90.93% 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.

Further Reading: Balance Sheet

Get a free copy of the Zacks research report on Banner (BANR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Banner (NASDAQ:BANR)

Receive News & Ratings for Banner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banner and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply