Banner Corp. price target lowered to $47 from $50 at DA Davidson

DA Davidson lowered the firm’s price target on Banner Corp. to $47 from $50 and keeps a Neutral rating on the shares after its Q1 earnings miss. Additional margin compression and securities losses once again weighed on earnings, though the bank’s credit quality statistics offer a clear noticeable strength versus peers, and given the bank’s conservative approach across several cycles, the firm anticipates Banner to remain a leader on this front, the analyst tells investors in a research note.