Farmers National Banc (NASDAQ:FMNB) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Farmers National Banc (NASDAQ:FMNB) from a hold rating to a sell rating in a research note released on Wednesday.

Separately, Piper Sandler reiterated a “neutral” rating and set a $17.00 price objective on shares of Farmers National Banc in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Farmers National Banc presently has an average rating of “Hold” and a consensus price target of $16.67.

Farmers National Banc Price Performance

Shares of Farmers National Banc stock traded down $0.46 on Wednesday, hitting $15.44. The company’s stock had a trading volume of 11,938 shares, compared to its average volume of 92,780. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.74 and a current ratio of 0.74. Farmers National Banc has a 1 year low of $11.55 and a 1 year high of $16.32. The firm has a fifty day moving average price of $14.98 and a 200-day moving average price of $14.22. The company has a market capitalization of $580.39 million, a price-to-earnings ratio of 12.93 and a beta of 0.86.

Farmers National Banc (NASDAQ:FMNB) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.12). Farmers National Banc had a return on equity of 11.92% and a net margin of 17.26%. The firm had revenue of $70.26 million for the quarter, compared to analysts’ expectations of $42.90 million. As a group, sell-side analysts anticipate that Farmers National Banc will post 1.23 earnings per share for the current fiscal year.

Farmers National Banc Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.40%. Farmers National Banc’s dividend payout ratio (DPR) is presently 55.28%.

Institutional Investors Weigh In On Farmers National Banc

A number of large investors have recently made changes to their positions in FMNB. Geode Capital Management LLC grew its position in shares of Farmers National Banc by 5.5% in the third quarter. Geode Capital Management LLC now owns 846,454 shares of the bank’s stock valued at $12,802,000 after purchasing an additional 44,349 shares in the last quarter. Barclays PLC grew its position in shares of Farmers National Banc by 330.9% in the third quarter. Barclays PLC now owns 55,930 shares of the bank’s stock valued at $845,000 after purchasing an additional 42,951 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Farmers National Banc by 93.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 83,361 shares of the bank’s stock valued at $1,260,000 after purchasing an additional 40,367 shares in the last quarter. State Street Corp grew its position in shares of Farmers National Banc by 3.5% in the third quarter. State Street Corp now owns 849,499 shares of the bank’s stock valued at $12,844,000 after purchasing an additional 28,499 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Farmers National Banc in the third quarter valued at approximately $311,000. 38.72% of the stock is currently owned by hedge funds and other institutional investors.

About Farmers National Banc

Farmers National Banc Corp. operates as a bank holding company for The Farmers National Bank of Canfield engages in the banking, trust, retirement consulting, insurance, and financial management businesses. It 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, brokerage, and other services.