Analysts expect Banner Co. (NASDAQ:BANR) to announce $118.23 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Banner’s earnings, with the highest sales estimate coming in at $120.40 million and the lowest estimate coming in at $114.48 million. Banner posted sales of $115.70 million during the same quarter last year, which would indicate a positive year over year growth rate of 2.2%. The business is expected to report its next quarterly earnings results after the market closes on Monday, April 23rd.
According to Zacks, analysts expect that Banner will report full year sales of $493.27 million for the current fiscal year, with estimates ranging from $481.80 million to $501.50 million. For the next year, analysts forecast that the company will post sales of $525.92 million per share, with estimates ranging from $516.76 million to $537.40 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Banner.
Banner (NASDAQ:BANR) last released its earnings results on Wednesday, January 24th. The financial services provider reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.08). The firm had revenue of $128.15 million during the quarter, compared to analysts’ expectations of $126.56 million. Banner had a return on equity of 7.55% and a net margin of 12.02%.
Shares of Banner stock traded down $0.17 during trading on Wednesday, hitting $55.81. The stock had a trading volume of 246,462 shares, compared to its average volume of 203,305. The company has a market cap of $1,826.34, a P/E ratio of 18.67, a price-to-earnings-growth ratio of 1.64 and a beta of 0.96. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95. Banner has a 1 year low of $52.07 and a 1 year high of $62.75.
The business also recently declared a quarterly dividend, which was paid on Thursday, April 19th. Investors of record on Tuesday, April 10th were issued a dividend of $0.35 per share. This is a boost from Banner’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Monday, April 9th. Banner’s dividend payout ratio (DPR) is currently 46.82%.
Banner announced that its board has approved a stock repurchase program on Wednesday, March 28th that authorizes the company to buyback 1,620,000 shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.
In related news, VP Kenneth A. Larsen sold 884 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $57.53, for a total transaction of $50,856.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Cynthia D. Purcell sold 841 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $54.67, for a total transaction of $45,977.47. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,137 shares of company stock valued at $120,590. 1.76% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund lifted its stake in Banner by 1.0% in the third quarter. New York State Common Retirement Fund now owns 95,317 shares of the financial services provider’s stock valued at $5,841,000 after acquiring an additional 951 shares during the last quarter. Legal & General Group Plc lifted its stake in Banner by 23.9% in the third quarter. Legal & General Group Plc now owns 66,134 shares of the financial services provider’s stock valued at $4,053,000 after acquiring an additional 12,774 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Banner by 17.6% in the third quarter. Wells Fargo & Company MN now owns 90,961 shares of the financial services provider’s stock valued at $5,575,000 after acquiring an additional 13,587 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Banner by 17.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 151,026 shares of the financial services provider’s stock valued at $9,255,000 after acquiring an additional 22,178 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in Banner in the third quarter valued at approximately $266,000. Institutional investors and hedge funds own 92.49% of the company’s stock.
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Banner Company Profile
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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