National Bankshares downgraded to Neutral on margin pressure at Piper Sandler

Piper Sandler analyst Brendan Nosal downgraded National Bankshares to Neutral from Overweight with a price target of $31, down from $34, post the Q2 results. “Unexpectedly large” net interest margin pressure drove a wide net interest income shortfall verses expectations, the analyst tells investors in a research note. The firm reduced 2024 earnings estimates by 20% and downgraded National Bankshares post the results.