Farmers National Banc price target raised to $18 from $16 at Raymond James

Raymond James raised the firm’s price target on Farmers National Banc to $18 from $16 and keeps an Outperform rating on the shares. While core trends were solid in Q2 as NIM inflected with solid loan growth and continued loan repricing pushing asset yields past funding headwinds while credit metrics continue to shine, loan growth is expected to be very modest in 2H24, the analyst tells investors in a research note. Current levels provide an attractive entry point with solid profitability, a strong credit risk profile, and EPS and TBV upside if rate cuts materialize, the firm says.