Farmers National Banc (FMNB) Lowered to “Sell” at Zacks Investment Research

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

A number of other equities analysts have also commented on the stock. ValuEngine lowered shares of Farmers National Banc from a hold rating to a sell rating in a report on Thursday, September 27th. BidaskClub downgraded shares of Farmers National Banc from a sell rating to a strong sell rating in a research note on Tuesday, October 23rd. Raymond James decreased their price target on shares of Farmers National Banc from $18.00 to $17.00 and set a buy rating for the company in a research note on Friday, October 26th. Finally, Boenning Scattergood assumed coverage on shares of Farmers National Banc in a research note on Tuesday, December 18th. They issued an outperform rating and a $14.50 price target for the company. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Farmers National Banc presently has a consensus rating of Hold and a consensus price target of $16.50.

Shares of FMNB traded down $0.04 during mid-day trading on Friday, hitting $13.10. 37,239 shares of the company’s stock were exchanged, compared to its average volume of 31,915. Farmers National Banc has a 52 week low of $11.56 and a 52 week high of $16.90. The stock has a market capitalization of $364.99 million, a PE ratio of 14.56 and a beta of 0.72. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.02.

Farmers National Banc (NASDAQ:FMNB) last posted its quarterly earnings results on Wednesday, October 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. Farmers National Banc had a net margin of 25.71% and a return on equity of 12.61%. The business had revenue of $26.40 million for the quarter, compared to analyst estimates of $26.80 million. Equities research analysts predict that Farmers National Banc will post 1.14 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, December 31st. Investors of record on Friday, December 14th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.44%. The ex-dividend date was Thursday, December 13th. Farmers National Banc’s dividend payout ratio (DPR) is presently 35.56%.

In related news, Director Gregory C. Bestic bought 8,100 shares of the company’s stock in a transaction on Friday, December 21st. The shares were purchased at an average cost of $12.12 per share, for a total transaction of $98,172.00. Following the completion of the purchase, the director now directly owns 34,097 shares in the company, valued at $413,255.64. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Edward Muransky purchased 3,000 shares of the stock in a transaction dated Friday, October 26th. The stock was acquired at an average cost of $13.29 per share, for a total transaction of $39,870.00. Following the transaction, the director now owns 20,246 shares of the company’s stock, valued at $269,069.34. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 12,138 shares of company stock worth $171,175. 9.11% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in Farmers National Banc by 1.8% during the 3rd quarter. BlackRock Inc. now owns 1,352,888 shares of the bank’s stock worth $20,699,000 after acquiring an additional 23,333 shares during the period. Vanguard Group Inc. increased its holdings in shares of Farmers National Banc by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,074,254 shares of the bank’s stock worth $16,436,000 after buying an additional 19,047 shares during the last quarter. Vanguard Group Inc increased its holdings in shares of Farmers National Banc by 1.8% in the 3rd quarter. Vanguard Group Inc now owns 1,074,254 shares of the bank’s stock worth $16,436,000 after buying an additional 19,047 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Farmers National Banc by 8.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 664,190 shares of the bank’s stock valued at $10,162,000 after buying an additional 49,878 shares during the period. Finally, Maltese Capital Management LLC boosted its position in Farmers National Banc by 44.1% during the 3rd quarter. Maltese Capital Management LLC now owns 660,000 shares of the bank’s stock valued at $10,098,000 after buying an additional 201,900 shares during the period. 35.83% of the stock is currently owned by institutional investors.

Farmers National Banc Company Profile

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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