$0.77 Earnings Per Share Expected for Banner Corporation (BANR) This Quarter
Wall Street analysts predict that Banner Corporation (NASDAQ:BANR) will report earnings of $0.77 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Banner Corporation’s earnings, with the lowest EPS estimate coming in at $0.75 and the highest estimate coming in at $0.79. Banner Corporation posted earnings per share of $0.74 in the same quarter last year, which would indicate a positive year over year growth rate of 4.1%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, October 25th.
On average, analysts expect that Banner Corporation will report full year earnings of $3.16 per share for the current year, with EPS estimates ranging from $3.06 to $3.27. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.27 per share, with EPS estimates ranging from $3.05 to $3.44. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Banner Corporation.
Banner Corporation (NASDAQ:BANR) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. The company had revenue of $122.18 million for the quarter, compared to the consensus estimate of $119.46 million. Banner Corporation had a return on equity of 7.50% and a net margin of 19.63%.
Several equities analysts have issued reports on BANR shares. BidaskClub upgraded Banner Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Stephens started coverage on Banner Corporation in a research report on Wednesday. They set an “equal weight” rating and a $60.00 target price on the stock. Zacks Investment Research cut Banner Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, ValuEngine upgraded Banner Corporation from a “hold” rating to a “buy” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $57.75.
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In related news, VP Cynthia D. Purcell sold 1,007 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $55.61, for a total value of $55,999.27. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gary Sirmon sold 3,333 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $56.77, for a total value of $189,214.41. The disclosure for this sale can be found here. Insiders have sold a total of 11,256 shares of company stock worth $629,073 in the last quarter. 1.71% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Planning grew its holdings in shares of Banner Corporation by 4.6% in the 2nd quarter. Creative Planning now owns 1,913 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 85 shares during the period. Tudor Investment Corp ET AL grew its holdings in shares of Banner Corporation by 1.8% in the 2nd quarter. Tudor Investment Corp ET AL now owns 7,556 shares of the financial services provider’s stock worth $427,000 after acquiring an additional 134 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of Banner Corporation by 0.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 15,632 shares of the financial services provider’s stock worth $870,000 after acquiring an additional 140 shares during the period. Texas Permanent School Fund grew its holdings in shares of Banner Corporation by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 19,145 shares of the financial services provider’s stock worth $1,082,000 after acquiring an additional 159 shares during the period. Finally, Nationwide Fund Advisors grew its holdings in shares of Banner Corporation by 0.4% in the 1st quarter. Nationwide Fund Advisors now owns 43,345 shares of the financial services provider’s stock worth $2,412,000 after acquiring an additional 176 shares during the period. Institutional investors and hedge funds own 89.14% of the company’s stock.
Banner Corporation (NASDAQ:BANR) opened at 57.11 on Friday. The firm’s 50-day moving average price is $55.88 and its 200-day moving average price is $55.80. Banner Corporation has a 12 month low of $42.93 and a 12 month high of $60.97. The stock has a market cap of $1.90 billion, a P/E ratio of 19.89 and a beta of 1.05.
Banner Corporation Company Profile
Banner Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its subsidiaries, Banner Bank and Islanders Bank. Banner Bank is a Washington-chartered commercial bank. Banner Bank is a regional bank, which offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its primary market areas.
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