Equities research analysts forecast that Banner Co. (NASDAQ:BANR) will report sales of $125.29 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Banner’s earnings, with estimates ranging from $122.95 million to $127.40 million. Banner posted sales of $120.55 million during the same quarter last year, which suggests a positive year over year growth rate of 3.9%. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, October 24th.
On average, analysts expect that Banner will report full-year sales of $499.13 million for the current year, with estimates ranging from $496.70 million to $504.30 million. For the next fiscal year, analysts anticipate that the company will post sales of $562.81 million, with estimates ranging from $551.62 million to $572.10 million. Zacks’ sales calculations are a mean 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 25th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.14. Banner had a return on equity of 8.59% and a net margin of 14.02%. The company had revenue of $124.28 million for the quarter, compared to analysts’ expectations of $121.15 million.
A number of brokerages have recently issued reports on BANR. BidaskClub upgraded Banner from a “hold” rating to a “buy” rating in a research note on Saturday, September 8th. Stephens reiterated a “hold” rating and set a $68.00 price objective on shares of Banner in a research note on Thursday, September 6th. Sandler O’Neill reiterated a “buy” rating and set a $70.00 price objective on shares of Banner in a research note on Monday, July 30th. Zacks Investment Research upgraded Banner from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research note on Tuesday, June 26th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $61.00 price target on shares of Banner in a research note on Friday, July 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $65.20.
A number of institutional investors and hedge funds have recently bought and sold shares of BANR. BlackRock Inc. grew its holdings in Banner by 5.7% in the 2nd quarter. BlackRock Inc. now owns 4,725,946 shares of the financial services provider’s stock valued at $284,171,000 after buying an additional 253,397 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Banner by 9.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,589,380 shares of the financial services provider’s stock valued at $155,701,000 after buying an additional 231,836 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Banner by 369.5% in the 1st quarter. JPMorgan Chase & Co. now owns 549,881 shares of the financial services provider’s stock valued at $30,512,000 after buying an additional 432,756 shares in the last quarter. Millennium Management LLC grew its holdings in Banner by 7.5% in the 2nd quarter. Millennium Management LLC now owns 475,819 shares of the financial services provider’s stock valued at $28,611,000 after buying an additional 33,390 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Banner by 86.3% in the 1st quarter. Russell Investments Group Ltd. now owns 343,557 shares of the financial services provider’s stock valued at $19,065,000 after buying an additional 159,099 shares in the last quarter. Institutional investors and hedge funds own 91.94% of the company’s stock.
Shares of Banner stock traded down $1.37 on Monday, reaching $57.60. 227,421 shares of the company were exchanged, compared to its average volume of 185,317. Banner has a one year low of $52.20 and a one year high of $67.11. The stock has a market cap of $2.01 billion, a P/E ratio of 19.26, a P/E/G ratio of 1.69 and a beta of 0.90. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.37.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 19th. Investors of record on Wednesday, October 10th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Tuesday, October 9th. This is a boost from Banner’s previous quarterly dividend of $0.35. Banner’s dividend payout ratio is 50.84%.
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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