Banner Co. (BANR) Expected to Post Quarterly Sales of $126.56 Million

Analysts forecast that Banner Co. (NASDAQ:BANR) will report $126.56 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Banner’s earnings. The highest sales estimate is $130.09 million and the lowest is $121.20 million. Banner posted sales of $116.63 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.5%. The firm is scheduled to issue its next earnings report after the market closes on Wednesday, January 24th.

According to Zacks, analysts expect that Banner will report full-year sales of $126.56 million for the current fiscal year, with estimates ranging from $478.70 million to $488.52 million. For the next financial year, analysts expect that the company will post sales of $496.08 million per share, with estimates ranging from $485.25 million to $504.40 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Banner.

Banner (NASDAQ:BANR) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.01). The business had revenue of $120.55 million during the quarter, compared to analyst estimates of $123.58 million. Banner had a return on equity of 7.52% and a net margin of 19.70%.

A number of analysts have commented on BANR shares. Zacks Investment Research raised Banner from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Friday, January 12th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $60.00 price target on shares of Banner in a research report on Friday, December 22nd. BidaskClub cut Banner from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. ValuEngine cut Banner from a “buy” rating to a “hold” rating in a research report on Saturday, November 25th. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating on shares of Banner in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $61.00.

Shares of Banner (NASDAQ:BANR) opened at $57.06 on Tuesday. Banner has a 52-week low of $51.61 and a 52-week high of $62.75. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 0.94. The company has a market capitalization of $1,900.00, a PE ratio of 19.41, a price-to-earnings-growth ratio of 1.87 and a beta of 1.07.

The company also recently declared a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Tuesday, January 9th were given a dividend of $0.25 per share. The ex-dividend date was Monday, January 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.75%. Banner’s dividend payout ratio is currently 34.01%.

A number of institutional investors and hedge funds have recently modified their holdings of BANR. Schwab Charles Investment Management Inc. raised its stake in shares of Banner by 5.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 128,848 shares of the financial services provider’s stock valued at $7,282,000 after buying an additional 7,215 shares during the last quarter. Swiss National Bank raised its stake in shares of Banner by 89.2% during the 2nd quarter. Swiss National Bank now owns 52,400 shares of the financial services provider’s stock valued at $2,961,000 after buying an additional 24,700 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Banner by 10.6% during the 2nd quarter. Wells Fargo & Company MN now owns 77,374 shares of the financial services provider’s stock valued at $4,372,000 after buying an additional 7,433 shares during the last quarter. Riverhead Capital Management LLC raised its stake in shares of Banner by 182.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,262 shares of the financial services provider’s stock valued at $128,000 after buying an additional 1,462 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Banner by 19.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 114,512 shares of the financial services provider’s stock valued at $6,471,000 after buying an additional 18,861 shares during the last quarter. 91.64% of the stock is owned by institutional investors.

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Banner 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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Earnings History and Estimates for Banner (NASDAQ:BANR)

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