Stock analysts predict that Banner Co. (NASDAQ: BANR) will post earnings of $ 1.17 per share for the current fiscal quarter, Zacks investment research reports. Three analysts provided earnings estimates for Banner, with the highest EPS estimate being $ 1.29 and the lowest estimate being $ 1.08. Banner posted earnings per share of $ 1.04 in the same quarter last year, indicating a positive year-over-year growth rate of 12.5%. The company is expected to report its next results on Wednesday, October 20.
On average, analysts expect Banner to report an annual profit of $ 5.11 per share for the current year, with EPS estimates ranging from $ 4.97 to $ 5.30. For the next fiscal year, analysts predict the company will post earnings of $ 4.09 per share, with EPS estimates ranging from $ 3.98 to $ 4.20. Zacks’ earnings per share calculations are an average based on a survey of research analysts who follow Banner.
Banner (NASDAQ: BANR) last reported its quarterly results on Tuesday, July 20. The financial services provider reported earnings per share (EPS) of $ 1.56 for the quarter, beating Thomson Reuters consensus estimate of $ 1.11 by $ 0.45. The company posted revenue of $ 149.89 million in the quarter, compared to a consensus estimate of $ 142.75 million. Banner had a return on equity of 10.68% and a net margin of 28.76%.
BANR has been the subject of a number of recent analyst reports. DA Davidson demoted Banner from a “buy” rating to a “neutral” rating and lowered his price target for the company from $ 63.00 to $ 60.00 in a research note Tuesday. Zacks investment research downgraded Banner from a “buy” note to a “keep” note in a research note on Monday, August 30. Finally, Raymond James lowered his price target on Banner from $ 66.00 to $ 63.00 and set a “strong buy” rating for the company in a research note on Friday, July 23. Four equity research analysts rated the stock with a hold rating, one gave a buy rating, and one gave the stock a strong buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $ 57.40.
Several hedge funds have recently bought and sold shares in the company. Vanguard Group Inc. increased its stake in Banner by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,791,178 shares of the financial services provider valued at $ 205,518,000 after purchasing an additional 30,775 shares in the last quarter. State Street Corp increased its stake in Banner by 6.8% in the 2nd quarter. State Street Corp now owns 1,883,905 shares of the financial services provider worth $ 102,126,000 after purchasing an additional 119,822 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Banner by 4.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,415,335 shares of the financial services provider valued at $ 75,480,000 after purchasing an additional 60,176 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Banner by 8.1% in the 1st quarter. Bank of New York Mellon Corp now owns 893,343 shares of the financial services provider valued at $ 47,642,000 after purchasing an additional 66,774 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Banner by 15.9% during the second quarter. Victory Capital Management Inc. now owns 765,702 shares of the financial services provider valued at $ 41,508,000 after purchasing an additional 105,063 shares in the last quarter. Institutional investors hold 83.59% of the shares of the company.
NASDAQ: BANR traded down $ 1.02 during Friday’s session, reaching $ 51.82. The company’s shares had a trading volume of 152,990 shares, compared to its average volume of 163,678. The company has a market capitalization of $ 1.79 billion, a price-to-earnings ratio of 10.32 and a beta of 1.16. The company has a debt to equity ratio of 0.33, a quick ratio of 0.82, and a current ratio of 0.82. The company has a 50-day moving average of $ 54.12 and a 200-day moving average of $ 55.43. Banner has a minimum of $ 30.05 over 12 months and a maximum of $ 60.42 over 12 months.
The company also recently declared a quarterly dividend, which was paid on Friday, August 13. Shareholders of record on Tuesday August 3 received a dividend of $ 0.41 per share. The ex-dividend date of this dividend was Monday August 2. This represents an annualized dividend of $ 1.64 and a dividend yield of 3.16%. Banner’s payout ratio is 48.66%.
Company Profile Banner
Banner Corp. operates as a holding company for Banner Bank. It offers deposit services, business loans, commercial real estate, construction, housing, agriculture and consumer affairs. It also provides commercial banking services and financial products to individuals, businesses and public sector entities.
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