Farmers National Banc (NASDAQ: FMNB) downgraded by Zacks Investment Research


Farmers National Banc (NASDAQ: FMNB) was demoted by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued Wednesday, Zacks.com reports.

According to Zacks, “Farmers National Banc Corp. is a single bank holding company with a single subsidiary, The Farmers National Bank of Canfield. They operate in one industry, national banking. The Bank is a full service national bank engaged in commercial activities. 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, overnight deposit, safe deposit boxes. , money orders, bank checks, ATMs and travelers checks “.

On the other hand, Raymond James raised his price target on Farmers National Banc from $ 18.00 to $ 20.00 and gave the company a “superior performance” rating in a report on Monday, November 1.

NASDAQ: FMNB opened at $ 19.03 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.68, and a debt-to-equity ratio of 0.13. The company’s 50-day simple moving average is $ 18.22 and its two-hundred-day simple moving average is $ 16.60. The stock has a market capitalization of $ 538.97 million, a PE ratio of 9.42 and a beta of 0.95. Farmers National Banc has a 52-week low of $ 13.03 and a 52-week high of $ 19.32.

Farmers National Banc (NASDAQ: FMNB) last released its quarterly earnings results on Tuesday, October 26. The bank reported $ 0.56 EPS for the quarter, beating the Zacks consensus estimate of $ 0.51 by $ 0.05. The company had revenue of $ 35.55 million for the quarter, compared to analysts’ expectations of $ 35.95 million. Farmers National Banc had a return on equity of 16.50% and a net margin of 37.40%. Analysts on the sell side anticipate that Farmers National Banc will post 2.14 earnings per share for the current fiscal year.

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In other news, Director Edward muransky acquired 15,000 shares of the company in a transaction dated Monday, December 20. The stock was purchased at an average price of $ 17.72 per share, for a total transaction of $ 265,800.00. The acquisition was announced in a document filed with the Securities and Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have bought 21,435 shares of the company valued at $ 379,611. The insiders of the company own 8.86% of the shares of the company.

Several institutional investors have recently modified their holdings in FMNB. BlackRock Inc. increased its position in Farmers National Banc by 1.2% in the second quarter. BlackRock Inc. now owns 1,808,679 shares of the bank’s stock worth $ 28,052,000 after acquiring an additional 21,570 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Farmers National Banc by 0.9% in the third quarter. Dimensional Fund Advisors LP now owns 903,441 shares of the bank’s stock worth $ 14,193,000 after acquiring an additional 7,904 shares in the last quarter. LSV Asset Management increased its position in Farmers National Banc by 1.6% in the third quarter. LSV Asset Management now owns 516,762 shares of the bank’s stock worth $ 8,118,000 after acquiring an additional 8,100 shares in the last quarter. Manufacturers Life Insurance Company increased its position in Farmers National Banc by 32.5% in the third quarter. Manufacturers Life Insurance Company now owns 452,946 shares of the bank’s stock worth $ 7,116,000 after acquiring an additional 110,986 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC increased its position in Farmers National Banc by 0.5% in the second quarter. Pacific Ridge Capital Partners LLC now owns 369,969 shares of the bank’s stock worth $ 5,738,000 after acquiring an additional 1,833 shares in the last quarter. Hedge funds and other institutional investors own 41.22% of the company’s shares.

Company Profile Farmers National Banc

Farmers National Banc Corp. is a banking and financial holding company, engaged in the provision of banking and financial services through its subsidiary, The Farmers National Bank of Canfield. It operates through the Banking and Trust segments. The Banking segment comprises commercial and retail banking services that include checking accounts, savings accounts, time deposit accounts, commercial loans, mortgages and installments.

See also: Municipal bonds

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