Wall Street Zen lowered shares of Farmers National Banc (NASDAQ:FMNB – Free Report) from a buy rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.
FMNB has been the subject of a number of other research reports. Weiss Ratings restated a “buy (b)” rating on shares of Farmers National Banc in a research note on Monday, October 26th. Piper Sandler upped their price target on Farmers National Banc from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.00.
Check Out Our Latest Analysis on FMNB
Farmers National Banc Price Performance
Shares of NASDAQ FMNB opened at $15.64 on Friday. Farmers National Banc has a 1 year low of $12.12 and a 1 year high of $16.46. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.79 and a quick ratio of 0.79. The company’s 50-day moving average is $15.48 and its 200 day moving average is $14.39. The stock has a market capitalization of $926.67 million, a P/E ratio of 11.25 and a beta of 0.78.
Farmers National Banc (NASDAQ:FMNB – Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The bank reported $0.47 EPS for the quarter, topping the consensus estimate of $0.39 by $0.08. The business had revenue of $65.87 million during the quarter, compared to analyst estimates of $70.75 million. Farmers National Banc had a net margin of 19.60% and a return on equity of 12.90%. On average, sell-side analysts expect that Farmers National Banc will post 1.71 earnings per share for the current year.
Farmers National Banc Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 11th were given a dividend of $0.18 per share. This is a boost from Farmers National Banc’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, September 11th. This represents a $0.72 dividend on an annualized basis and a yield of 4.6%. Farmers National Banc’s dividend payout ratio is 51.80%.
Insider Activity
In other news, EVP Mark Wenick sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $15.97, for a total value of $79,850.00. Following the transaction, the executive vice president owned 32,020 shares in the company, valued at approximately $511,359.40. This represents a 13.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 3.50% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Farmers National Banc
Several hedge funds and other institutional investors have recently modified their holdings of FMNB. State Street Corp lifted its position in shares of Farmers National Banc by 60.1% during the 2nd quarter. State Street Corp now owns 1,989,971 shares of the bank’s stock valued at $29,054,000 after buying an additional 746,719 shares in the last quarter. BlackRock Inc. grew its stake in shares of Farmers National Banc by 13.5% during the 2nd quarter. BlackRock Inc. now owns 4,798,011 shares of the bank’s stock valued at $70,051,000 after acquiring an additional 569,057 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in Farmers National Banc in the 2nd quarter worth approximately $6,827,000. Dimensional Fund Advisors LP raised its stake in Farmers National Banc by 24.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,539,834 shares of the bank’s stock worth $20,264,000 after acquiring an additional 302,397 shares during the period. Finally, Empowered Funds LLC purchased a new position in Farmers National Banc during the second quarter valued at approximately $3,354,000. 38.72% of the stock is owned by institutional investors.
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.
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