Brokers Issue Forecasts for Banner Co.’s Q1 2023 Earnings (NASDAQ:BANR)

Posted by Defense World Staff on Apr 7th, 2023

Banner Co. (NASDAQ:BANR – Get Rating) – Investment analysts at DA Davidson reduced their Q1 2023 earnings estimates for shares of Banner in a note issued to investors on Wednesday, April 5th. DA Davidson analyst J. Rulis now forecasts that the financial services provider will earn $1.61 per share for the quarter, down from their prior forecast of $1.62. The consensus estimate for Banner’s current full-year earnings is $6.49 per share. DA Davidson also issued estimates for Banner’s FY2024 earnings at $6.50 EPS.

BANR has been the subject of several other reports. StockNews.com downgraded shares of Banner from a “hold” rating to a “sell” rating in a report on Friday, March 31st. Raymond James cut their price objective on shares of Banner from $68.00 to $60.00 in a report on Thursday.

Banner Stock Up 1.7 %

Banner stock opened at $52.93 on Thursday. Banner has a twelve month low of $49.28 and a twelve month high of $75.72. The firm has a 50 day moving average price of $59.74 and a 200-day moving average price of $63.18. The company has a market capitalization of $1.81 billion, a P/E ratio of 9.34 and a beta of 1.02. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.31.

Banner (NASDAQ:BANR – Get Rating) last released its earnings results on Thursday, January 19th. The financial services provider reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. Banner had a net margin of 30.16% and a return on equity of 13.25%. The firm had revenue of $172.14 million during the quarter, compared to the consensus estimate of $167.23 million.

Institutional Trading of Banner

Several institutional investors and hedge funds have recently made changes to their positions in BANR. Raymond James & Associates raised its position in shares of Banner by 4.4% during the 1st quarter. Raymond James & Associates now owns 23,587 shares of the financial services provider’s stock valued at $1,381,000 after buying an additional 984 shares in the last quarter. Citigroup Inc. raised its position in shares of Banner by 9.9% during the 1st quarter. Citigroup Inc. now owns 30,752 shares of the financial services provider’s stock valued at $1,799,000 after buying an additional 2,768 shares in the last quarter. Bank of Montreal Can raised its position in shares of Banner by 2.3% during the 1st quarter. Bank of Montreal Can now owns 11,310 shares of the financial services provider’s stock valued at $697,000 after buying an additional 254 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Banner by 55.6% during the 1st quarter. MetLife Investment Management LLC now owns 18,699 shares of the financial services provider’s stock valued at $1,094,000 after buying an additional 6,682 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Banner by 0.5% during the 1st quarter. Rhumbline Advisers now owns 96,156 shares of the financial services provider’s stock valued at $5,628,000 after buying an additional 460 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Banner Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 13th. Stockholders of record on Thursday, February 2nd were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, February 1st. This represents a $1.92 annualized dividend and a dividend yield of 3.63%. This is a boost from Banner’s previous quarterly dividend of $0.44. Banner’s dividend payout ratio (DPR) is 33.86%.

Banner Company Profile

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Banner Corp. is a holding company, which engages in the provision of commercial banking services and financial products. The company was founded in 1995 and is headquartered in Walla Walla, WA.