Zacks: Brokerages Anticipate Banner Co. (NASDAQ:BANR) Will Announce Quarterly Sales of $135.44 Million

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Wall Street analysts predict that Banner Co. (NASDAQ:BANR) will post sales of $135.44 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Banner’s earnings, with the lowest sales estimate coming in at $133.57 million and the highest estimate coming in at $136.10 million. Banner posted sales of $129.49 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.6%. The firm is scheduled to issue its next earnings results on Wednesday, October 23rd.

On average, analysts expect that Banner will report full year sales of $545.93 million for the current year, with estimates ranging from $537.83 million to $548.90 million. For the next year, analysts forecast that the company will report sales of $576.94 million, with estimates ranging from $557.08 million to $585.90 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Banner.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. Banner had a net margin of 25.14% and a return on equity of 10.43%. The business had revenue of $137.37 million for the quarter, compared to analysts’ expectations of $137.47 million.

BANR has been the topic of several research reports. DA Davidson upgraded shares of Banner from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 11th. Stephens reiterated a “hold” rating on shares of Banner in a research report on Thursday, July 25th. ValuEngine cut shares of Banner from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. BidaskClub cut shares of Banner from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, Raymond James dropped their price target on shares of Banner from $64.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $60.00.

Shares of NASDAQ BANR opened at $57.36 on Thursday. Banner has a fifty-two week low of $48.50 and a fifty-two week high of $65.80. The firm’s 50-day simple moving average is $55.11 and its 200 day simple moving average is $54.69. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.55. The stock has a market cap of $2.01 billion, a P/E ratio of 14.02, a P/E/G ratio of 1.98 and a beta of 0.84.

In other Banner news, VP Cynthia D. Purcell sold 2,039 shares of Banner stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $54.19, for a total transaction of $110,493.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John R. Layman sold 500 shares of Banner stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $60.00, for a total value of $30,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,039 shares of company stock worth $168,078. Company insiders own 2.51% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in Banner during the 1st quarter valued at about $186,000. US Bancorp DE grew its stake in Banner by 6.4% during the 2nd quarter. US Bancorp DE now owns 3,642 shares of the financial services provider’s stock valued at $197,000 after acquiring an additional 218 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Banner during the 1st quarter valued at about $225,000. Bank of Montreal Can grew its stake in Banner by 205.8% during the 2nd quarter. Bank of Montreal Can now owns 4,186 shares of the financial services provider’s stock valued at $227,000 after acquiring an additional 2,817 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new position in Banner during the 1st quarter valued at about $248,000. 83.73% of the stock is currently owned by institutional investors.

Banner Company Profile

Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank that 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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