Brokerages Expect Banner Co. (BANR) to Post $0.77 EPS

Equities research analysts expect that Banner Co. (NASDAQ:BANR) will announce $0.77 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Banner’s earnings. The highest EPS estimate is $0.83 and the lowest is $0.64. Banner posted earnings of $0.73 per share during the same quarter last year, which indicates a positive year over year growth rate of 5.5%. The business is expected to report its next quarterly earnings results after the market closes on Monday, April 23rd.

According to Zacks, analysts expect that Banner will report full year earnings of $3.43 per share for the current financial year, with EPS estimates ranging from $3.10 to $3.67. For the next year, analysts anticipate that the firm will post earnings of $3.76 per share, with EPS estimates ranging from $3.60 to $3.91. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Banner.

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Banner (NASDAQ:BANR) last posted its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.08). Banner had a net margin of 12.02% and a return on equity of 7.55%. The firm had revenue of $128.15 million during the quarter, compared to analysts’ expectations of $126.56 million.

A number of research firms recently weighed in on BANR. Zacks Investment Research upgraded shares of Banner from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Friday, January 12th. BidaskClub lowered shares of Banner from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $60.00 price objective on shares of Banner in a research report on Friday, December 22nd. Sandler O’Neill reiterated a “buy” rating on shares of Banner in a research report on Friday, January 26th. Finally, Piper Jaffray reiterated a “hold” rating and issued a $58.00 price objective on shares of Banner in a research report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $60.25.

NASDAQ:BANR opened at $55.34 on Monday. Banner has a 1-year low of $52.07 and a 1-year high of $62.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $1,811.98, a P/E ratio of 18.64, a PEG ratio of 1.62 and a beta of 0.96.

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 19th. Shareholders of record on Tuesday, April 10th will be given a dividend of $0.35 per share. This is a positive change from Banner’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Monday, April 9th. Banner’s payout ratio is presently 46.82%.

Banner announced that its Board of Directors has approved a stock repurchase program on Wednesday, March 28th that authorizes the company to buyback 1,620,000 outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

In other Banner news, VP Cynthia D. Purcell sold 841 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $54.67, for a total transaction of $45,977.47. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Kenneth A. Larsen sold 884 shares of the business’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $57.53, for a total transaction of $50,856.52. The disclosure for this sale can be found here. Insiders have sold a total of 2,137 shares of company stock worth $120,590 over the last 90 days. Insiders own 1.71% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Elkfork Partners LLC purchased a new stake in shares of Banner during the 4th quarter worth $245,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Banner during the 4th quarter worth $217,000. MetLife Investment Advisors LLC purchased a new stake in shares of Banner during the 4th quarter worth $815,000. Millennium Management LLC boosted its position in shares of Banner by 242.3% during the 4th quarter. Millennium Management LLC now owns 462,513 shares of the financial services provider’s stock worth $25,494,000 after purchasing an additional 327,377 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of Banner by 18.3% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 9,700 shares of the financial services provider’s stock worth $535,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

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About Banner

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.

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Earnings History and Estimates for Banner (NASDAQ:BANR)

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