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UPDATE: DA Davidson Raises PT to $35 on Banner; Mortage Activity Helps EPS

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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 2016FBR CapitalMaintainsMarket Perform
Jul 2016Keefe Bruyette & WoodsMaintainsMarket Perform
Oct 2015Keefe Bruyette & WoodsDowngradesOutperformMarket Perform

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