Equities research analysts predict that Banner Co. (NASDAQ:BANR) will announce $0.86 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Banner’s earnings. The lowest EPS estimate is $0.85 and the highest is $0.88. Banner reported earnings per share of $0.78 during the same quarter last year, which indicates a positive year over year growth rate of 10.3%. The firm is scheduled to report its next quarterly earnings results after the market closes on Wednesday, July 25th.
On average, analysts expect that Banner will report full-year earnings of $3.55 per share for the current financial year, with EPS estimates ranging from $3.50 to $3.61. For the next financial year, analysts forecast that the business will post earnings of $3.84 per share, with EPS estimates ranging from $3.70 to $3.95. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for Banner.
Banner (NASDAQ:BANR) last issued its quarterly earnings results on Monday, April 23rd. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. Banner had a return on equity of 8.00% and a net margin of 12.85%. The business had revenue of $118.74 million for the quarter, compared to the consensus estimate of $118.23 million.
A number of research analysts have recently weighed in on BANR shares. BidaskClub upgraded Banner from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Zacks Investment Research downgraded Banner from a “hold” rating to a “sell” rating in a report on Tuesday, March 27th. Finally, Stephens reiterated a “hold” rating and set a $60.00 price target on shares of Banner in a report on Tuesday, April 24th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Banner currently has a consensus rating of “Hold” and a consensus price target of $61.25.
In other Banner news, VP Steven W. Rust sold 511 shares of the business’s stock in a transaction dated Friday, April 27th. The stock was sold at an average price of $57.82, for a total value of $29,546.02. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.71% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of BANR. Schwab Charles Investment Management Inc. grew its stake in Banner by 5.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 159,168 shares of the financial services provider’s stock valued at $8,774,000 after purchasing an additional 8,142 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Banner in the fourth quarter valued at about $601,000. California Public Employees Retirement System grew its stake in Banner by 9.4% in the fourth quarter. California Public Employees Retirement System now owns 64,765 shares of the financial services provider’s stock valued at $3,570,000 after purchasing an additional 5,554 shares in the last quarter. Swiss National Bank grew its stake in Banner by 4.2% in the fourth quarter. Swiss National Bank now owns 54,600 shares of the financial services provider’s stock valued at $3,010,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Banner by 30.1% in the fourth quarter. Wells Fargo & Company MN now owns 118,350 shares of the financial services provider’s stock valued at $6,523,000 after purchasing an additional 27,389 shares in the last quarter. Hedge funds and other institutional investors own 92.38% of the company’s stock.
Shares of Banner traded down $0.68, reaching $60.13, on Friday, MarketBeat.com reports. 166,137 shares of the company’s stock traded hands, compared to its average volume of 203,373. Banner has a 12-month low of $52.20 and a 12-month high of $62.98. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 1.71 and a beta of 0.97.
Banner declared that its Board of Directors has approved a share repurchase plan on Wednesday, March 28th that permits the company to repurchase 1,620,000 outstanding shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 19th. Shareholders of record on Tuesday, July 10th will be paid a $0.35 dividend. The ex-dividend date is Monday, July 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.33%. Banner’s dividend payout ratio (DPR) is currently 46.82%.
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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