Brokerages Anticipate Banner Corporation (BANR) Will Announce Quarterly Sales of $123.58 Million
Wall Street brokerages expect that Banner Corporation (NASDAQ:BANR) will announce sales of $123.58 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Banner Corporation’s earnings, with estimates ranging from $122.85 million to $124.10 million. Banner Corporation reported sales of $117.22 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.4%. The business is expected to announce its next earnings results after the market closes on Wednesday, October 25th.
On average, analysts expect that Banner Corporation will report full-year sales of $123.58 million for the current financial year, with estimates ranging from $486.60 million to $492.79 million. For the next financial year, analysts forecast that the company will report sales of $509.76 million per share, with estimates ranging from $496.78 million to $519.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Banner Corporation.
Banner Corporation (NASDAQ:BANR) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.06. The business had revenue of $122.18 million for the quarter, compared to analyst estimates of $119.46 million. Banner Corporation had a net margin of 19.63% and a return on equity of 7.50%.
A number of equities research analysts have commented on the company. BidaskClub upgraded Banner Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Zacks Investment Research upgraded Banner Corporation from a “sell” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Monday, July 3rd. ValuEngine upgraded Banner Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 15th. Finally, Stephens assumed coverage on Banner Corporation in a research report on Wednesday, September 13th. They set an “equal weight” rating and a $60.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Banner Corporation presently has a consensus rating of “Hold” and an average price target of $57.75.
ILLEGAL ACTIVITY NOTICE: This report was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this report on another website, it was illegally copied and reposted in violation of United States & international copyright and trademark law. The legal version of this report can be read at https://www.americanbankingnews.com/2017/10/25/brokerages-anticipate-banner-corporation-banr-will-announce-quarterly-sales-of-123-58-million.html.
In other news, Director Gary Sirmon sold 3,335 shares of Banner Corporation stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $57.49, for a total transaction of $191,729.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Cynthia D. Purcell sold 1,007 shares of Banner Corporation stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $55.61, for a total value of $55,999.27. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,925 shares of company stock valued at $446,739. 1.71% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Creative Planning lifted its holdings in shares of Banner Corporation by 4.6% during the 2nd quarter. Creative Planning now owns 1,913 shares of the financial services provider’s stock valued at $108,000 after buying an additional 85 shares during the last quarter. Tudor Investment Corp ET AL lifted its holdings in shares of Banner Corporation by 1.8% during the 2nd quarter. Tudor Investment Corp ET AL now owns 7,556 shares of the financial services provider’s stock valued at $427,000 after buying an additional 134 shares during the last quarter. Texas Permanent School Fund lifted its holdings in shares of Banner Corporation by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 19,145 shares of the financial services provider’s stock valued at $1,082,000 after buying an additional 159 shares during the last quarter. Pinebridge Investments L.P. lifted its holdings in shares of Banner Corporation by 1.4% during the 2nd quarter. Pinebridge Investments L.P. now owns 17,384 shares of the financial services provider’s stock valued at $982,000 after buying an additional 237 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of Banner Corporation by 11.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,893 shares of the financial services provider’s stock valued at $163,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 88.59% of the company’s stock.
Banner Corporation (NASDAQ:BANR) opened at 62.21 on Wednesday. Banner Corporation has a one year low of $44.00 and a one year high of $62.47. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 21.67 and a beta of 1.04. The stock’s 50 day moving average is $59.28 and its 200 day moving average is $56.56.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.61%. Banner Corporation’s dividend payout ratio is 34.72%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Banner Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banner Corporation and related companies with MarketBeat.com's FREE daily email newsletter.