Brokerages predict that Banner Co. (NASDAQ:BANR) will announce $0.80 earnings per share for the current quarter, according to Zacks. Three analysts have issued estimates for Banner’s earnings, with estimates ranging from $0.76 to $0.87. Banner reported earnings of $1.16 per share during the same quarter last year, which would indicate a negative year over year growth rate of 31%. The company is expected to issue its next earnings results on Wednesday, October 28th.
According to Zacks, analysts expect that Banner will report full year earnings of $2.92 per share for the current fiscal year, with EPS estimates ranging from $2.84 to $3.00. For the next year, analysts expect that the firm will post earnings of $2.73 per share, with EPS estimates ranging from $1.85 to $3.09. Zacks’ EPS calculations are an average based on a survey of analysts that cover Banner.
Banner (NASDAQ:BANR) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.33. Banner had a return on equity of 7.74% and a net margin of 18.53%. The business had revenue of $147.30 million during the quarter, compared to the consensus estimate of $140.97 million.
A number of analysts have issued reports on the company. ValuEngine downgraded Banner from a “hold” rating to a “sell” rating in a research note on Tuesday, September 1st. Piper Sandler cut their target price on Banner from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Tuesday, June 23rd. BidaskClub downgraded Banner from a “sell” rating to a “strong sell” rating in a research report on Friday, August 21st. Finally, Zacks Investment Research raised Banner from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $47.33.
Shares of BANR opened at $34.02 on Thursday. Banner has a 52-week low of $27.12 and a 52-week high of $59.64. The company has a market capitalization of $1.20 billion, a PE ratio of 10.50 and a beta of 1.09. The stock has a fifty day simple moving average of $36.06 and a two-hundred day simple moving average of $36.16. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.32.
Large investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. acquired a new stake in shares of Banner during the 1st quarter worth about $39,000. Macquarie Group Ltd. acquired a new position in Banner in the 2nd quarter valued at about $46,000. PNC Financial Services Group Inc. grew its position in Banner by 34.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,902 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 484 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Banner by 18.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,599 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 414 shares in the last quarter. Finally, Aigen Investment Management LP grew its position in Banner by 134.2% in the 1st quarter. Aigen Investment Management LP now owns 2,921 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 1,674 shares in the last quarter. 83.23% of the stock is owned by hedge funds and other institutional investors.
Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank that 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.
Recommended Story: What is the return on assets formula?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Banner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banner and related companies with MarketBeat.com's FREE daily email newsletter.