Piper Sandler raised the firm's price target on Farmers National Banc (FMNB) to $16 from $14 and keeps a Neutral rating on the shares. The firm notes the company delivered a solid first quarter, posting a 6% PPNR beat vs. consensus despite integration noise from the Middlefield Banc (MBCN) acquisition. Although organic loan growth was muted, Piper anticipates a steady return toward a low-to-mid-single digit pace in the coming quarters.
