Banner Corp. price target raised to $69 from $60 at DA Davidson

DA Davidson analyst Jeff Rulis raised the firm’s price target on Banner Corp. (BANR) to $69 from $60 and keeps a Neutral rating on the shares. The company’s Q3 results were highlighted by the first net interest margin increase “in a while” as well as very effective expense management, and while its growth was hamstrung by moving a portion of loans to HFS, it appears to have decent traction” ahead, the analyst tells investors in a research note. Banner’s credit also remains solid but likely saw indications of further normalization that the broader industry is facing, though this is “nothing alarming”, the firm added.