DA Davidson Brokers Reduce Earnings Estimates for Banner Corporation (BANR)
Banner Corporation (NASDAQ:BANR) – DA Davidson cut their FY2017 earnings per share (EPS) estimates for Banner Corporation in a research note issued to investors on Thursday. DA Davidson analyst J. Rulis now expects that the financial services provider will earn $3.17 per share for the year, down from their prior estimate of $3.20. DA Davidson has a “Neutral” rating on the stock. DA Davidson also issued estimates for Banner Corporation’s Q4 2017 earnings at $0.92 EPS, Q1 2018 earnings at $0.68 EPS, Q2 2018 earnings at $0.74 EPS, FY2018 earnings at $2.90 EPS and FY2019 earnings at $3.30 EPS.
Banner Corporation (NASDAQ:BANR) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $0.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.01). The firm had revenue of $120.55 million for the quarter, compared to the consensus estimate of $123.58 million. Banner Corporation had a net margin of 19.70% and a return on equity of 7.52%. COPYRIGHT VIOLATION WARNING: This piece was first posted by Watch List News and is the sole property of of Watch List News. If you are reading this piece on another website, it was stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this piece can be accessed at https://www.watchlistnews.com/da-davidson-brokers-reduce-earnings-estimates-for-banner-corporation-banr/1670487.html.
Other research analysts have also issued reports about the stock. ValuEngine raised shares of Banner Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 15th. Stephens started coverage on shares of Banner Corporation in a report on Wednesday, September 13th. They set an “equal weight” rating and a $60.00 price objective for the company. BidaskClub upgraded shares of Banner Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Zacks Investment Research downgraded shares of Banner Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Piper Jaffray Companies restated a “neutral” rating on shares of Banner Corporation in a report on Friday, October 27th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Banner Corporation presently has an average rating of “Hold” and an average target price of $60.67.
Shares of Banner Corporation (NASDAQ:BANR) traded up 0.23% during midday trading on Monday, reaching $57.45. The company’s stock had a trading volume of 36,849 shares. The company has a market capitalization of $1.91 billion, a P/E ratio of 20.01 and a beta of 1.04. Banner Corporation has a one year low of $44.12 and a one year high of $62.75. The stock’s 50-day moving average is $59.84 and its 200-day moving average is $56.71.
Several institutional investors and hedge funds have recently made changes to their positions in BANR. Parametric Portfolio Associates LLC lifted its holdings in shares of Banner Corporation by 29.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 15,511 shares of the financial services provider’s stock worth $863,000 after acquiring an additional 3,562 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of Banner Corporation by 27.4% in the 1st quarter. OppenheimerFunds Inc. now owns 6,717 shares of the financial services provider’s stock worth $373,000 after acquiring an additional 1,446 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Banner Corporation by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 202,923 shares of the financial services provider’s stock worth $11,291,000 after acquiring an additional 5,106 shares during the last quarter. Teachers Advisors LLC lifted its holdings in shares of Banner Corporation by 0.5% in the 1st quarter. Teachers Advisors LLC now owns 277,630 shares of the financial services provider’s stock worth $15,447,000 after acquiring an additional 1,328 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of Banner Corporation by 3.9% in the 1st quarter. California Public Employees Retirement System now owns 51,100 shares of the financial services provider’s stock worth $2,843,000 after acquiring an additional 1,900 shares during the last quarter. Hedge funds and other institutional investors own 88.61% of the company’s stock.
In other news, Director Gary Sirmon sold 3,335 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $57.49, for a total value of $191,729.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Cynthia D. Purcell sold 1,007 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $55.61, for a total transaction of $55,999.27. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,925 shares of company stock valued at $446,739. Company insiders own 1.71% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.74%. Banner Corporation’s payout ratio is 34.01%.
Banner Corporation Company Profile
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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