Regional banking company Banner Corporation (NASDAQ:BANR) will be reporting earnings this Wednesday after market hours. Here’s what to expect.
Banner Bank met analysts’ revenue expectations last quarter, reporting revenues of $160.2 million, up 10.8% year on year. It was a satisfactory quarter for the company, with a narrow beat of analysts’ tangible book value per share estimates.
Is Banner Bank a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Banner Bank’s revenue to grow 9.3% year on year to $163.7 million, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $1.31 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Banner Bank has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Banner Bank’s peers in the banks segment, only FB Financial has reported results so far. It missed analysts’ revenue estimates by 43.5%, posting year-on-year sales declines of 40.1%.
Read our full analysis of FB Financial’s earnings results here.There has been positive sentiment among investors in the banks segment, with share prices up 11.6% on average over the last month. Banner Bank is up 14.3% during the same time and is heading into earnings with an average analyst price target of $70.40 (compared to the current share price of $69.40).
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