Wall Street brokerages expect Banner Corporation (NASDAQ:BANR) to post $123.58 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Banner Corporation’s earnings. The highest sales estimate is $124.10 million and the lowest is $122.85 million. Banner Corporation reported sales of $117.22 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.4%. The firm is scheduled to announce its next earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Banner Corporation will report full-year sales of $123.58 million for the current year, with estimates ranging from $486.60 million to $492.79 million. For the next financial year, analysts forecast that the company will report sales of $509.76 million per share, with estimates ranging from $496.78 million to $519.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Banner Corporation.
Banner Corporation (NASDAQ:BANR) last released its earnings results on Wednesday, July 26th. The financial services provider reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. Banner Corporation had a return on equity of 7.50% and a net margin of 19.63%. The company had revenue of $122.18 million for the quarter, compared to the consensus estimate of $119.46 million.
Several equities analysts recently issued reports on the company. ValuEngine upgraded Banner Corporation from a “hold” rating to a “buy” rating in a research note on Friday. Stephens assumed coverage on Banner Corporation in a research note on Wednesday, September 13th. They set an “equal weight” rating and a $60.00 price target on the stock. BidaskClub upgraded Banner Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Finally, Zacks Investment Research lowered Banner Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $57.75.
In other Banner Corporation news, Director Gary Sirmon sold 3,333 shares of Banner Corporation stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $55.46, for a total transaction of $184,848.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Cynthia D. Purcell sold 1,007 shares of Banner Corporation stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $55.61, for a total value of $55,999.27. The disclosure for this sale can be found here. Insiders have sold 7,923 shares of company stock worth $439,858 over the last 90 days. Corporate insiders own 1.71% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning boosted its holdings in Banner Corporation by 4.6% during the second quarter. Creative Planning now owns 1,913 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 85 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Banner Corporation during the first quarter valued at approximately $107,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Banner Corporation by 236.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,135 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 1,500 shares in the last quarter. Riverhead Capital Management LLC boosted its holdings in Banner Corporation by 182.8% during the second quarter. Riverhead Capital Management LLC now owns 2,262 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 1,462 shares in the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in Banner Corporation during the first quarter valued at approximately $144,000. 88.45% of the stock is currently owned by institutional investors.
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Banner Corporation (BANR) opened at 57.11 on Monday. The firm’s 50-day moving average price is $55.88 and its 200-day moving average price is $55.80. The company has a market cap of $1.90 billion, a P/E ratio of 19.89 and a beta of 1.05. Banner Corporation has a 12-month low of $42.93 and a 12-month high of $60.97.
About Banner Corporation
Banner Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its subsidiaries, Banner Bank and Islanders Bank. Banner Bank is a Washington-chartered commercial bank. Banner Bank is a regional bank, which offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its primary market areas.
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