Farmers National Banc (NASDAQ:FMNB) Upgraded 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 Saturday morning.

A number of other analysts have also weighed in on the stock. Piper Sandler raised their price objective on shares of Farmers National Banc from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. Weiss Ratings upgraded shares of Farmers National Banc from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 8th. Finally, Zacks Research upgraded shares of Farmers National Banc from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $16.00.

Farmers National Banc Trading Up 2.5%

NASDAQ FMNB opened at $15.19 on Friday. Farmers National Banc has a 12 month low of $12.12 and a 12 month high of $15.50. 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 stock’s fifty day moving average price is $14.38 and its 200-day moving average price is $13.74. The stock has a market cap of $899.55 million, a P/E ratio of 10.33 and a beta of 0.77.

Farmers National Banc (NASDAQ:FMNB) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.07. The firm had revenue of $70.44 million during the quarter, compared to analyst estimates of $70.10 million. Farmers National Banc had a return on equity of 13.14% and a net margin of 20.52%. As a group, equities analysts forecast that Farmers National Banc will post 1.64 EPS for the current fiscal year.

Farmers National Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 12th were paid a $0.17 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.5%. Farmers National Banc’s payout ratio is currently 46.26%.

Insider Activity at Farmers National Banc

In other news, Director Michael C. Voinovich sold 23,309 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Farmers National Banc

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Farmers National Banc by 24.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,539,834 shares of the bank’s stock valued at $20,264,000 after buying an additional 302,397 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Farmers National Banc in the first quarter worth $2,954,000. Marshall Wace LLP bought a new stake in shares of Farmers National Banc in the fourth quarter worth $2,707,000. Millennium Management LLC increased its position in Farmers National Banc by 231.9% during the fourth quarter. Millennium Management LLC now owns 263,553 shares of the bank’s stock valued at $3,511,000 after acquiring an additional 184,155 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Farmers National Banc by 454.6% during the third quarter. First Trust Advisors LP now owns 137,655 shares of the bank’s stock valued at $1,984,000 after acquiring an additional 112,834 shares during the last quarter. Hedge funds and other institutional investors own 38.72% of the company’s stock.

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.