Banner Co. (NASDAQ:BANR) Expected to Announce Quarterly Sales of $137.23 Million

Equities analysts expect Banner Co. (NASDAQ:BANR) to post $137.23 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Banner’s earnings, with the lowest sales estimate coming in at $134.60 million and the highest estimate coming in at $139.90 million. Banner posted sales of $149.25 million in the same quarter last year, which suggests a negative year over year growth rate of 8.1%. The company is scheduled to report its next quarterly earnings report on Wednesday, October 20th.

On average, analysts expect that Banner will report full year sales of $557.64 million for the current financial year, with estimates ranging from $556.61 million to $558.90 million. For the next fiscal year, analysts expect that the firm will report sales of $558.92 million, with estimates ranging from $538.35 million to $585.70 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Banner.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Tuesday, July 20th. The financial services provider reported $1.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.45. Banner had a return on equity of 8.88% and a net margin of 23.72%.

A number of research firms have weighed in on BANR. Raymond James raised their price target on Banner from $63.00 to $66.00 and gave the company a “strong-buy” rating in a research report on Friday, May 21st. Zacks Investment Research downgraded Banner from a “buy” rating to a “hold” rating in a research report on Thursday, July 1st. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $58.25.

In other news, VP Peter Conner sold 900 shares of the firm’s stock in a transaction dated Thursday, June 10th. The stock was sold at an average price of $58.12, for a total transaction of $52,308.00. Following the transaction, the vice president now directly owns 42,730 shares of the company’s stock, valued at $2,483,467.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.37% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Diversified Trust Co grew its stake in shares of Banner by 5.0% in the first quarter. Diversified Trust Co now owns 6,765 shares of the financial services provider’s stock worth $361,000 after purchasing an additional 324 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Banner by 1.5% in the second quarter. State of Alaska Department of Revenue now owns 24,085 shares of the financial services provider’s stock worth $1,305,000 after purchasing an additional 360 shares during the last quarter. Point72 Hong Kong Ltd grew its stake in shares of Banner by 131.3% in the first quarter. Point72 Hong Kong Ltd now owns 740 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 420 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Banner by 3.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 14,464 shares of the financial services provider’s stock worth $771,000 after purchasing an additional 481 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its holdings in Banner by 13.7% in the first quarter. Mount Yale Investment Advisors LLC now owns 4,917 shares of the financial services provider’s stock worth $262,000 after buying an additional 592 shares during the period. 84.17% of the stock is currently owned by institutional investors.

Shares of BANR stock traded up $0.37 on Friday, reaching $52.47. The company’s stock had a trading volume of 2,497 shares, compared to its average volume of 152,382. The company has a 50 day simple moving average of $55.81. Banner has a 12-month low of $30.05 and a 12-month high of $60.42. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a market cap of $1.83 billion, a P/E ratio of 12.71 and a beta of 1.14.

About Banner

Banner Corporation operates as the bank holding company for Banner Bank that provide commercial banking and financial products and services to individuals, businesses, and public sector entities in the United States. It accepts various deposit instruments, 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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