Analysts fell to the sidelines weighing in on Banner Corp (BANR) and Business First Bancshares Inc (BFST) with neutral ratings, indicating that the experts are neither bullish nor bearish on the stocks.
Banner Corp (BANR)
Stephens analyst Tyler Stafford maintained a Hold rating on Banner Corp today and set a price target of $56. The company’s shares closed yesterday at $55.59.
Stafford observed:
“We are EW. KEY POINTS: M&A Announcement. BANR announced the acquisition of AltaPacific Bancorp ($436 mil. assets) for 1.68x TBV. AltaPacific hosts an impressive 41% NIB deposit base (<0% deposit beta cycle-to-date), is expected to generate ~1.8% in 2020/2021 EPS accretion with a <3 year earn-back, inclusive of a 45% cost save assumption. Positives. Fees were strong at $22.8 mil. (vs. our $19.5 mil. and Street's $19.6 mil.). Core NIM of 4.31% beat our 4.30%, as deposit cost pressure was muted (+2 bps vs. our +4 bps) and core loan yields expanded 2 bps (vs. our flat). LLP beat drove $0.02 vs. Street. Negatives. HFI loan growth of 2.5% LQA was below our 8.8%, as HFS balances increased +272% q/q. NII of $116.7 mil. was a modest miss vs. our $117.0 mil. and Street's $117.2 mil., with core NII of $114.8 mil. (vs. our $115.3 mil.)."
According to TipRanks.com, Stafford is a 4-star analyst with an average return of 5.0% and a 55.7% success rate. Stafford covers the Financial sector, focusing on stocks such as Capstar Financial Holdings Inc, Carolina Financial Corporation, and Amerant Bancorp Inc. Class A.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Banner Corp with a $59.75 average price target.
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Business First Bancshares Inc (BFST)
In a report released today, Matt Olney from Stephens maintained a Hold rating on Business First Bancshares Inc, with a price target of $27. The company’s shares closed yesterday at $25.25.
According to TipRanks.com, Olney is a 3-star analyst with an average return of 0.7% and a 51.0% success rate. Olney covers the Financial sector, focusing on stocks such as Spirit Of Texas Bancshares Inc, Hancock Whitney Corporation, and First Western Financial Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for Business First Bancshares Inc with a $27.50 average price target, representing an 8.9% upside. In a report issued on July 10, D.A. Davidson also initiated coverage with a Hold rating on the stock with a $28 price target.
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