Banner Corp. price target lowered to $51 from $56 at DA Davidson

DA Davidson lowered the firm’s price target on Banner Corp. to $51 from $56 and keeps a Neutral rating on the shares after its Q4 earnings miss. The bank’s net interest margin compression accelerated from the prior quarter, yet strong loan growth helped limit a greater slide in net interest income, the analyst tells investors in a research note. Credit was largely unchanged and remains sound, though deposits declined and the mix shift to higher cost funds continues, the firm added.