Banner Corp. price target lowered to $60 from $68 at Raymond James

Raymond James analyst David Feaster lowered the firm’s price target on Banner Corp. to $60 from $68 and keeps an Outperform rating on the shares. While the firm notes that shares are trading at a premium valuation to peers, the risk-reward is favorable given its "enviable" core deposit franchise, strong historical asset quality, well-capitalized balance sheet and positive operating leverage through 2023, the analyst tells investors in a research note.