Farmers National Banc (NASDAQ:FMNB) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Farmers National Banc (NASDAQ:FMNB) from a buy rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

FMNB has been the topic of several other reports. Piper Sandler lifted their target price on Farmers National Banc from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of Farmers National Banc in a report on Monday, October 26th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $17.00.

Farmers National Banc Stock Performance

NASDAQ FMNB opened at $15.87 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.12. Farmers National Banc has a 52-week low of $12.12 and a 52-week high of $16.46. The business’s 50-day moving average price is $15.48 and its 200 day moving average price is $14.40. The firm has a market cap of $940.30 million, a P/E ratio of 8.95 and a beta of 0.78.

Farmers National Banc (NASDAQ:FMNB) last issued its quarterly earnings results on Wednesday, October 28th. The bank reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.08. The firm had revenue of $65.87 million for the quarter, compared to analysts’ expectations of $70.75 million. Farmers National Banc had a return on equity of 12.90% and a net margin of 19.60%. On average, equities research analysts expect that Farmers National Banc will post 1.71 earnings per share for the current year.

Farmers National Banc Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 11th were given a $0.18 dividend. The ex-dividend date was Friday, September 11th. This is an increase from Farmers National Banc’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 4.5%. Farmers National Banc’s payout ratio is 51.80%.

Insiders Place Their Bets

In other Farmers National Banc news, EVP Mark Wenick sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $15.97, for a total transaction of $79,850.00. Following the transaction, the executive vice president owned 32,020 shares in the company, valued at approximately $511,359.40. The trade was a 13.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of Farmers National Banc

Several hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue lifted its position in shares of Farmers National Banc by 8.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,058 shares of the bank’s stock valued at $135,000 after acquiring an additional 731 shares during the period. SG Americas Securities LLC boosted its stake in shares of Farmers National Banc by 6.4% during the 1st quarter. SG Americas Securities LLC now owns 15,227 shares of the bank’s stock worth $200,000 after acquiring an additional 920 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Farmers National Banc by 5.3% during the 2nd quarter. Fifth Third Bancorp now owns 20,092 shares of the bank’s stock worth $293,000 after acquiring an additional 1,006 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Farmers National Banc by 2.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 55,292 shares of the bank’s stock worth $728,000 after acquiring an additional 1,123 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Farmers National Banc by 86.1% in the 1st quarter. Parallel Advisors LLC now owns 2,784 shares of the bank’s stock worth $37,000 after acquiring an additional 1,288 shares during the period. 38.72% of the stock is owned by institutional investors and hedge funds.

Farmers National Banc Company Profile

Farmers National Banc Corp. is a bank holding company headquartered in Canfield, Ohio. Through its principal subsidiary, Farmers National Bank, the company provides community banking services to individuals, families and businesses.

Farmers National Bank offers deposit accounts, consumer and commercial lending, residential mortgages, online and mobile banking, treasury management and other financial services. The company also provides wealth management and trust services through Farmers Trust Company, as well as insurance-related services through its affiliated operations.

Founded in 1887, Farmers National Banc Corp.