Farmers National Banc (NASDAQ:FMNB) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Farmers National Banc (NASDAQ:FMNB) from a buy rating to a hold rating in a research note issued to investors on Sunday.

Other analysts also recently issued reports about the company. Piper Sandler boosted their target price on Farmers National Banc from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. Weiss Ratings upgraded Farmers National Banc from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Farmers National Banc currently has a consensus rating of “Hold” and an average target price of $16.00.

Farmers National Banc Price Performance

FMNB stock opened at $15.99 on Friday. The firm has a 50 day moving average of $14.63 and a 200-day moving average of $13.86. Farmers National Banc has a 12-month low of $12.12 and a 12-month high of $16.16. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.19. The company has a market cap of $946.93 million, a price-to-earnings ratio of 10.88 and a beta of 0.76.

Farmers National Banc (NASDAQ:FMNB) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. Farmers National Banc had a return on equity of 13.14% and a net margin of 20.52%.The business had revenue of $70.44 million for the quarter, compared to analyst estimates of $70.10 million. As a group, equities analysts expect that Farmers National Banc will post 1.68 EPS for the current fiscal year.

Farmers National Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 12th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, June 12th. Farmers National Banc’s payout ratio is currently 46.26%.

Insider Activity

In related news, Director Michael C. Voinovich sold 23,309 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $14.21, for a total transaction of $331,220.89. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Y Intercept Hong Kong Ltd purchased a new stake in shares of Farmers National Banc in the first quarter valued at $1,426,000. Staley Capital Advisers Inc. lifted its position in Farmers National Banc by 42.8% during the first quarter. Staley Capital Advisers Inc. now owns 250,251 shares of the bank’s stock worth $3,293,000 after buying an additional 75,000 shares during the period. Demming Financial Services Corp ADV purchased a new position in Farmers National Banc during the first quarter worth about $796,000. Assenagon Asset Management S.A. acquired a new stake in Farmers National Banc in the 1st quarter worth about $2,954,000. Finally, Beese Fulmer Investment Management Inc. boosted its stake in Farmers National Banc by 11.8% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 374,090 shares of the bank’s stock worth $4,983,000 after buying an additional 39,539 shares during the last quarter. Hedge funds and other institutional investors own 38.72% of the company’s stock.

About Farmers National Banc

Farmers National Banc Corp. operates as the bank holding company for Farmers National Bank, a community-oriented financial institution headquartered in Ada, Ohio. The company provides a comprehensive suite of banking services through a network of branches serving rural and small-town markets across central Ohio. Its local decision-making model emphasizes personalized customer service and close ties to the communities it serves.

The company’s primary business activities include the origination of commercial loans, consumer installment loans, agricultural financing, and residential mortgages.