Farmers National Banc (NASDAQ:FMNB) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Farmers National Banc (NASDAQ:FMNB) from a hold rating to a buy rating in a research report report published on Monday morning.

FMNB has been the subject of several other reports. Piper Sandler increased their price target on shares of Farmers National Banc from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. Weiss Ratings upgraded shares of 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $16.00.

Farmers National Banc Trading Up 0.2%

Shares of FMNB opened at $15.72 on Monday. 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 firm has a market capitalization of $930.86 million, a P/E ratio of 10.69 and a beta of 0.76. The firm has a 50-day moving average price of $14.76 and a 200 day moving average price of $13.93. Farmers National Banc has a 12-month low of $12.12 and a 12-month high of $16.16.

Farmers National Banc (NASDAQ:FMNB) last announced its earnings results on Wednesday, July 22nd. The bank reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. The firm had revenue of $70.44 million for the quarter, compared to the consensus estimate of $70.10 million. Farmers National Banc had a net margin of 20.52% and a return on equity of 13.14%. Sell-side analysts forecast that Farmers National Banc will post 1.68 EPS for the current year.

Farmers National Banc Announces Dividend

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

Insider Buying and Selling

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 stock was sold at an average price of $14.21, for a total value of $331,220.89. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark J. Wenick sold 5,000 shares of the business’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 of the company’s stock, valued at $511,359.40. This represents a 13.51% decrease in their position. The SEC filing for this sale provides additional information. 3.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Farmers National Banc

Several hedge funds have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new stake in Farmers National Banc during the 1st quarter valued at $1,426,000. The Manufacturers Life Insurance Company grew its stake in shares of Farmers National Banc by 17.0% in the first quarter. The Manufacturers Life Insurance Company now owns 470,132 shares of the bank’s stock worth $6,187,000 after purchasing an additional 68,445 shares in the last quarter. Staley Capital Advisers Inc. increased its holdings in shares of Farmers National Banc by 42.8% during the first quarter. Staley Capital Advisers Inc. now owns 250,251 shares of the bank’s stock valued at $3,293,000 after purchasing an additional 75,000 shares during the period. Demming Financial Services Corp ADV acquired a new position in shares of Farmers National Banc during the first quarter valued at $796,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Farmers National Banc during the first quarter valued at about $2,954,000. 38.72% of the stock is currently owned by institutional investors.

Farmers National Banc Company Profile

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.