Farmers National Banc (FMNB) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Farmers National Banc (NASDAQ:FMNB) from a sell rating to a hold rating in a research report sent to investors on Friday.

According to Zacks, “Farmers National Banc Corp. is a one-bank holding with only one subsidiary, The Farmers National Bank of Canfield. They operate in one industry, domestic banking. The Bank is a full-service national bank engaged in commercial and retail banking. The Bank’s commercial banking services include checking accounts, savings accounts, time deposit accounts, commercial, mortgage and installment loans, home equity loans, home equity lines of credit, night depository, safe deposit boxes, money orders, bank checks, automated teller machines and travelers checks. “

A number of other research firms also recently issued reports on FMNB. BidaskClub downgraded shares of Farmers National Banc from a hold rating to a sell rating in a research report on Thursday, August 30th. ValuEngine downgraded shares of Farmers National Banc from a hold rating to a sell rating in a research report on Thursday, September 27th. Finally, Raymond James dropped their target price on shares of Farmers National Banc from $18.00 to $17.00 and set a buy rating on the stock in a research report on Friday, October 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $17.00.

Farmers National Banc stock opened at $14.02 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.87 and a current ratio of 0.87. Farmers National Banc has a 12-month low of $12.80 and a 12-month high of $16.90. The firm has a market cap of $389.44 million, a P/E ratio of 12.63 and a beta of 0.67.

Farmers National Banc (NASDAQ:FMNB) last released its earnings results on Wednesday, October 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.29. Farmers National Banc had a net margin of 25.71% and a return on equity of 12.61%. The company had revenue of $26.40 million for the quarter, compared to the consensus estimate of $26.80 million. On average, equities research analysts expect that Farmers National Banc will post 1.14 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, December 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.28%. Farmers National Banc’s payout ratio is presently 35.56%.

In other Farmers National Banc news, Director Edward Muransky acquired 3,000 shares of the stock in a transaction on Friday, October 26th. The shares were purchased at an average price of $13.29 per share, for a total transaction of $39,870.00. Following the completion of the acquisition, the director now owns 20,246 shares in the company, valued at approximately $269,069.34. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have acquired 4,219 shares of company stock worth $57,851. Corporate insiders own 9.11% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Van Hulzen Asset Management LLC raised its holdings in Farmers National Banc by 23.3% during the second quarter. Van Hulzen Asset Management LLC now owns 24,268 shares of the bank’s stock worth $387,000 after buying an additional 4,590 shares during the last quarter. Martingale Asset Management L P raised its holdings in Farmers National Banc by 12.8% during the second quarter. Martingale Asset Management L P now owns 57,233 shares of the bank’s stock worth $913,000 after buying an additional 6,500 shares during the last quarter. MetLife Investment Advisors LLC raised its holdings in Farmers National Banc by 52.1% during the third quarter. MetLife Investment Advisors LLC now owns 20,409 shares of the bank’s stock worth $312,000 after buying an additional 6,995 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Farmers National Banc by 14.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 54,593 shares of the bank’s stock worth $871,000 after buying an additional 7,093 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Farmers National Banc by 34.1% during the third quarter. Acadian Asset Management LLC now owns 29,697 shares of the bank’s stock worth $454,000 after buying an additional 7,557 shares during the last quarter. Hedge funds and other institutional investors own 35.83% of the company’s stock.

About Farmers National Banc

Farmers National Banc Corp., through its subsidiaries, operates in the banking, trust, retirement consulting, insurance, and financial management industries. The company offers commercial and retail banking services, including checking, savings, and time deposit accounts; commercial, mortgage and installment, and home equity loans; home equity lines of credit, night depository, safe deposit box, money order, bank check, automated teller machine, Internet banking, travel card, E bond transaction, credit card, brokerage, and other services.

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