Zacks: Brokerages Expect Banner Co. (NASDAQ:BANR) to Announce $0.99 EPS

Equities research analysts predict that Banner Co. (NASDAQ:BANR) will announce $0.99 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Banner’s earnings, with the highest EPS estimate coming in at $1.13 and the lowest estimate coming in at $0.90. Banner posted earnings per share of $1.04 in the same quarter last year, which would suggest a negative year-over-year growth rate of 4.8%. The business is scheduled to issue its next quarterly earnings results on Wednesday, October 20th.

According to Zacks, analysts expect that Banner will report full year earnings of $4.24 per share for the current year, with EPS estimates ranging from $3.68 to $4.60. For the next year, analysts forecast that the business will post earnings of $3.99 per share, with EPS estimates ranging from $3.80 to $4.35. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Banner.

Banner (NASDAQ:BANR) last posted its quarterly earnings results on Tuesday, July 20th. The financial services provider reported $1.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.45. Banner had a return on equity of 8.88% and a net margin of 23.72%.

A number of equities analysts have commented on BANR shares. Zacks Investment Research cut Banner from a “buy” rating to a “hold” rating in a report on Thursday, July 1st. Raymond James upped their price target on Banner from $63.00 to $66.00 and gave the company a “strong-buy” rating in a research report on Friday, May 21st. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Banner currently has an average rating of “Buy” and an average price target of $58.25.

In related news, VP Peter Conner sold 900 shares of the firm’s stock in a transaction dated Thursday, June 10th. The stock was sold at an average price of $58.12, for a total transaction of $52,308.00. Following the transaction, the vice president now owns 42,730 shares of the company’s stock, valued at $2,483,467.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.37% of the company’s stock.

Several hedge funds have recently bought and sold shares of BANR. Wells Fargo & Company MN raised its position in shares of Banner by 6.4% during the 4th quarter. Wells Fargo & Company MN now owns 269,344 shares of the financial services provider’s stock worth $12,548,000 after purchasing an additional 16,142 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Banner by 7.8% during the 4th quarter. Rhumbline Advisers now owns 128,475 shares of the financial services provider’s stock valued at $5,986,000 after buying an additional 9,344 shares during the period. Veriti Management LLC purchased a new stake in shares of Banner during the 4th quarter valued at $25,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Banner during the 4th quarter valued at $102,000. Finally, Citigroup Inc. boosted its position in Banner by 79.6% during the 4th quarter. Citigroup Inc. now owns 9,849 shares of the financial services provider’s stock worth $458,000 after purchasing an additional 4,365 shares during the period. Institutional investors own 84.17% of the company’s stock.

NASDAQ BANR traded up $0.37 during trading hours on Thursday, reaching $52.47. The company’s stock had a trading volume of 2,497 shares, compared to its average volume of 152,382. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 12.71 and a beta of 1.14. Banner has a 1-year low of $30.05 and a 1-year high of $60.42. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a 50-day moving average price of $55.81.

About Banner

Banner Corporation operates as the bank holding company for Banner Bank that provide commercial banking and financial products and services to individuals, businesses, and public sector entities in the United States. It accepts various deposit instruments, 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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