UPDATE: DA Davidson Raises PT to $35 on Banner; Mortage Activity Helps EPS
DA Davidson reiterated its Buy rating on Banner (NASDAQ: BANR) and raised its price target from from $32 to $35.
DA Davidson said, "Banner reported Q3'12 EPS of $0.79 versus our $0.53 estimate and the $0.47 Street estimate. The variance from our model showed up in a lower LLP, a surge in noninterest income (led by strong mortgage activity), and lower expenses. Credit quality further improved and 40% of the preferred stock was retired."
Banner closed at $27.92 on Thursday.
Latest Ratings for BANR
|Jul 2016||FBR Capital||Maintains||Market Perform|
|Jul 2016||Keefe Bruyette & Woods||Maintains||Market Perform|
|Oct 2015||Keefe Bruyette & Woods||Downgrades||Outperform||Market Perform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.