Piper Sandler lowered the firm’s price target on Guaranty Bancshares to $30 from $34 and keeps a Neutral rating on the shares. The firm is also lowering its 2024/2025 estimates to $2.15/$2.23 from $2.23/$2.51 largely due to softer net interest income on a smaller balance sheet and fewer rate cuts. Increased buyback activity creates a partial offset, while expenses should continue to be controlled, Piper adds.
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