As previously reported, DA Davidson analyst Jeff Rulis upgraded Banner Corp to Buy from Neutral with an unchanged price target of $60. The analyst cites the company's growth into "one of the largest community banks in the West with nearly $12B in assets" and the management remaining focused on organic and M&A-driven opportunities. Rulis further notes that the recent pullback in Banner Corp's stock price, a seasonally "promising" tailwind for Q2, and expectations of progress on operating leverage and effective capital management warrant an upgrade.