$147.88 Million in Sales Expected for Banner Co. (NASDAQ:BANR) This Quarter

Wall Street analysts expect Banner Co. (NASDAQ:BANR) to announce sales of $147.88 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Banner’s earnings, with the lowest sales estimate coming in at $147.00 million and the highest estimate coming in at $149.54 million. Banner reported sales of $137.49 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7.6%. The firm is scheduled to announce its next earnings results on Wednesday, October 28th.

On average, analysts expect that Banner will report full year sales of $584.39 million for the current fiscal year, with estimates ranging from $579.50 million to $590.67 million. For the next financial year, analysts anticipate that the company will post sales of $560.05 million, with estimates ranging from $546.16 million to $570.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Banner.

Banner (NASDAQ:BANR) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.33. The firm had revenue of $147.30 million for the quarter, compared to analysts’ expectations of $140.97 million. Banner had a return on equity of 7.74% and a net margin of 18.53%.

A number of analysts have recently issued reports on BANR shares. Raymond James boosted their price objective on Banner from $36.00 to $42.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. BidaskClub cut Banner from a “sell” rating to a “strong sell” rating in a research report on Friday, June 26th. Zacks Investment Research upgraded Banner from a “sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Piper Sandler decreased their price target on Banner from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 23rd. Finally, ValuEngine raised Banner from a “sell” rating to a “hold” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Banner has an average rating of “Hold” and a consensus target price of $47.33.

A number of hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. purchased a new stake in shares of Banner in the 1st quarter worth about $39,000. TRUE Private Wealth Advisors increased its stake in Banner by 2,257.5% in the 1st quarter. TRUE Private Wealth Advisors now owns 1,886 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 1,806 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Banner in the 4th quarter worth about $74,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Banner by 18.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,599 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 414 shares during the period. Finally, Aigen Investment Management LP boosted its position in Banner by 134.2% during the 1st quarter. Aigen Investment Management LP now owns 2,921 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 1,674 shares during the period. Institutional investors own 82.29% of the company’s stock.

Shares of BANR traded down $0.29 on Tuesday, reaching $35.43. 174,934 shares of the stock traded hands, compared to its average volume of 133,219. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 10.94 and a beta of 1.15. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.89 and a quick ratio of 0.87. Banner has a 12 month low of $27.12 and a 12 month high of $60.21. The stock’s 50-day moving average price is $36.28 and its 200-day moving average price is $40.13.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Tuesday, August 4th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.63%. Banner’s payout ratio is currently 37.44%.

Banner Company Profile

Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank that 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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