Farmers National Banc (FMNB) Raised to “Hold” 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 report published on Wednesday morning.

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. “

Other equities research analysts also recently issued research reports about the company. Raymond James decreased their target price on Farmers National Banc from $18.00 to $17.00 and set a buy rating for the company in a research report on Friday, October 26th. BidaskClub raised Farmers National Banc from a strong sell rating to a sell rating in a research report on Saturday, December 1st. Finally, ValuEngine downgraded Farmers National Banc from a hold rating to a sell rating in a research report on Thursday, September 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $17.00.

Shares of NASDAQ FMNB opened at $12.45 on Wednesday. Farmers National Banc has a 1-year low of $12.38 and a 1-year high of $16.90. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $345.82 million, a PE ratio of 11.22 and a beta of 0.67.

Farmers National Banc (NASDAQ:FMNB) last issued its earnings results on Wednesday, October 24th. The bank reported $0.29 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. Farmers National Banc had a return on equity of 12.61% and a net margin of 25.71%. The company had revenue of $26.40 million during the quarter, compared to the consensus estimate of $26.80 million. On average, research analysts anticipate 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. Stockholders of record on Friday, December 14th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Thursday, December 13th. Farmers National Banc’s payout ratio is 35.56%.

In related news, Director Edward Muransky bought 3,000 shares of the firm’s stock in a transaction dated Friday, October 26th. The stock was bought at an average price of $13.29 per share, with a total value of $39,870.00. Following the completion of the transaction, the director now directly owns 20,246 shares of the company’s stock, valued at $269,069.34. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought 3,972 shares of company stock valued at $73,013 in the last ninety days. Company insiders own 9.11% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Stone Ridge Asset Management LLC purchased a new position in Farmers National Banc in the third quarter valued at about $153,000. MetLife Investment Advisors LLC boosted its holdings in Farmers National Banc by 52.1% in the third quarter. MetLife Investment Advisors LLC now owns 20,409 shares of the bank’s stock valued at $312,000 after purchasing an additional 6,995 shares during the last quarter. Macquarie Group Ltd. purchased a new position in Farmers National Banc in the second quarter valued at about $353,000. Van Hulzen Asset Management LLC boosted its holdings in Farmers National Banc by 23.3% in the second quarter. Van Hulzen Asset Management LLC now owns 24,268 shares of the bank’s stock valued at $387,000 after purchasing an additional 4,590 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Farmers National Banc by 34.1% in the third quarter. Acadian Asset Management LLC now owns 29,697 shares of the bank’s stock valued at $454,000 after purchasing an additional 7,557 shares during the last quarter. 35.83% of the stock is owned by hedge funds and other institutional investors.

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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