Piper Sandler assumes coverage of Farmers National Banc with 'neutral' rating

Farmers National Banc

21/11/2024 12:04

** Piper Sandler assumes coverage of financial services
company Farmers National Banc  FMNB.O  with "neutral" rating
    ** Brokerage says FMNB is positioned favorably for Fed
easing cycle 
    ** Expects modest expansion of FMNB's net interest margin
(NIM) through 2025
    ** NIM is a key profitability metric that measures how much
a bank earns as interest on loans and pays out on deposits
    ** Piper Sandler says FMNB's diversified fee businesses
including wealth management, insurance agency and retirement
plan consulting to drive strong fee growth 
    ** Brokerage sets PT at $17, a ~12% upside on stock's last
close
    ** One of 3 brokerages rate the stock "buy", 2 "hold"; their
median PT is $17 - LSEG data
    ** As of last close, stock up ~4.8% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)
 ((Prakhar.srivastava2@thomsonreuters.com))