Zacks: Analysts Expect Banner Co. (BANR) to Announce $0.95 Earnings Per Share

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Equities research analysts expect Banner Co. (NASDAQ:BANR) to post earnings of $0.95 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Banner’s earnings, with estimates ranging from $0.90 to $1.01. Banner reported earnings per share of $0.76 in the same quarter last year, which would suggest a positive year-over-year growth rate of 25%. The firm is scheduled to issue its next earnings results after the market closes on Wednesday, October 24th.

According to Zacks, analysts expect that Banner will report full year earnings of $3.76 per share for the current financial year, with EPS estimates ranging from $3.67 to $3.81. For the next year, analysts expect that the business will report earnings of $4.17 per share, with EPS estimates ranging from $4.05 to $4.36. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow Banner.

Banner (NASDAQ:BANR) last posted its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.14. Banner had a return on equity of 8.59% and a net margin of 14.02%. The business had revenue of $124.28 million for the quarter, compared to analysts’ expectations of $121.15 million.

Several research firms have weighed in on BANR. BidaskClub cut Banner from a “buy” rating to a “hold” rating in a research report on Friday, August 31st. Stephens restated a “hold” rating and issued a $68.00 target price on shares of Banner in a research note on Thursday, September 6th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $61.00 target price on shares of Banner in a research note on Friday, July 13th. Zacks Investment Research upgraded Banner from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research note on Tuesday, June 26th. Finally, Sandler O’Neill restated a “buy” rating and issued a $70.00 target price on shares of Banner in a research note on Monday, July 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Banner presently has a consensus rating of “Hold” and an average price target of $65.20.

Institutional investors and hedge funds have recently modified their holdings of the business. Itau Unibanco Holding S.A. bought a new stake in shares of Banner in the second quarter valued at $103,000. Ramsey Quantitative Systems bought a new stake in shares of Banner in the second quarter valued at $325,000. Xact Kapitalforvaltning AB raised its stake in shares of Banner by 60.9% in the first quarter. Xact Kapitalforvaltning AB now owns 6,344 shares of the financial services provider’s stock valued at $352,000 after buying an additional 2,400 shares during the period. UBS Group AG raised its stake in shares of Banner by 93.8% in the first quarter. UBS Group AG now owns 6,685 shares of the financial services provider’s stock valued at $371,000 after buying an additional 3,236 shares during the period. Finally, A.R.T. Advisors LLC bought a new stake in shares of Banner during the 1st quarter valued at $377,000. Hedge funds and other institutional investors own 91.52% of the company’s stock.

BANR stock opened at $54.85 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.92 and a current ratio of 0.93. Banner has a 1-year low of $52.20 and a 1-year high of $67.11. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90.

The company also recently announced a quarterly dividend, which was paid on Friday, October 19th. Shareholders of record on Wednesday, October 10th were paid a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, October 9th. This is a positive change from Banner’s previous quarterly dividend of $0.35. This represents a $1.52 annualized dividend and a dividend yield of 2.77%. Banner’s payout ratio is presently 50.84%.

About Banner

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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Earnings History and Estimates for Banner (NASDAQ:BANR)

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