Adam Butler, an analyst from Piper Sandler, maintained the Hold rating on Farmers National Banc Oh. The associated price target is $14.00.
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Adam Butler has given his Hold rating due to a combination of factors influencing Farmers National Banc Corp’s current market position. The bank is expanding into new markets, notably Columbus, which could enhance its market share and growth prospects. However, Butler believes that the current valuation already reflects the bank’s improving profitability outlook, limiting immediate upside potential.
Moreover, while Farmers National Banc Corp is well-positioned for further net interest margin expansion and manageable credit costs, there are concerns regarding its large accumulated other comprehensive income position, which could negatively impact tangible book value and tangible common equity. Additionally, potential challenges such as credit quality deterioration, slowing balance sheet growth, and elevated operating expenses contribute to the Hold rating, suggesting a cautious approach for investors.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FMNB in relation to earlier this year.