Farmers National Banc (NASDAQ:FMNB) Stock Rating Lowered by Wall Street Zen

Farmers National Banc (NASDAQ:FMNB) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Farmers National Banc in a research report on Monday, October 26th. Piper Sandler lifted their price objective on shares of Farmers National Banc from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Farmers National Banc currently has an average rating of “Hold” and an average price target of $17.00.

Farmers National Banc Stock Performance

NASDAQ FMNB opened at $15.64 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.79 and a current ratio of 0.79. Farmers National Banc has a 52 week low of $12.12 and a 52 week high of $16.46. The stock has a market capitalization of $926.67 million, a price-to-earnings ratio of 11.25 and a beta of 0.73. The stock’s 50 day moving average price is $15.48 and its two-hundred day moving average price is $14.39.

Farmers National Banc (NASDAQ:FMNB) last released its quarterly earnings data on Wednesday, October 28th. The bank reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.08. Farmers National Banc had a return on equity of 12.90% and a net margin of 19.60%. The company had revenue of $65.87 million for the quarter, compared to analyst estimates of $70.75 million. As a group, analysts anticipate that Farmers National Banc will post 1.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Farmers National Banc news, EVP Mark Wenick sold 5,000 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $15.97, for a total transaction of $79,850.00. Following the transaction, the executive vice president directly owned 32,020 shares in the company, valued at $511,359.40. This represents a 13.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.50% of the company’s stock.

Institutional Trading of Farmers National Banc

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in Farmers National Banc by 13.5% during the 2nd quarter. BlackRock Inc. now owns 4,798,011 shares of the bank’s stock worth $70,051,000 after purchasing an additional 569,057 shares during the last quarter. State Street Corp raised its position in shares of Farmers National Banc by 60.1% in the second quarter. State Street Corp now owns 1,989,971 shares of the bank’s stock worth $29,054,000 after buying an additional 746,719 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Farmers National Banc by 24.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,539,834 shares of the bank’s stock worth $20,264,000 after purchasing an additional 302,397 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Farmers National Banc by 17.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 470,132 shares of the bank’s stock valued at $6,187,000 after acquiring an additional 68,445 shares in the last quarter. Finally, Citadel Advisors LLC lifted its position in Farmers National Banc by 39.5% in the 2nd quarter. Citadel Advisors LLC now owns 423,186 shares of the bank’s stock valued at $6,179,000 after acquiring an additional 119,805 shares in the last quarter. 38.72% of the stock is owned by institutional investors.

About Farmers National Banc

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.