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Dan Werner

Dan Werner is a senior equity analyst for Morningstar, covering U.S. and Canadian banks.

Before joining Morningstar in 2011, he was an analyst for The Banc Funds Company, LLC, a private equity firm that invests almost exclusively in micro- and small-cap U.S. depository institutions, where he covered companies in the northeastern United States. Previously, he was a senior examiner for the Federal Reserve Bank of Chicago in the Supervision & Regulation Applications division.

Werner holds a bachelor’s degree in economics from Northwestern University and a master’s degree in business administration with a concentration in finance from the University of Chicago Booth School of Business.


With several competitive advantages, a 3% dividend yield, and a 20% discount to our fair value estimate, now's a good time to consider investing in this narrow-moat regional bank.

Morningstar's Dan Werner expects continued pressure on net interest margins, increased fee revenue, a focus on expense controls, and strong trading revenue for investment banks.