Farmers National Banc (NASDAQ:FMNB) Upgraded by Wall Street Zen to Buy Rating

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

Separately, Weiss Ratings raised shares of Farmers National Banc from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Farmers National Banc presently has an average rating of “Hold” and a consensus target price of $16.00.

Farmers National Banc Stock Performance

NASDAQ:FMNB opened at $15.68 on Friday. The stock has a market cap of $929.04 million, a P/E ratio of 10.67 and a beta of 0.76. The stock has a 50 day simple moving average of $15.22 and a 200 day simple moving average of $14.18. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.12. Farmers National Banc has a 1-year low of $12.12 and a 1-year high of $16.46.

Farmers National Banc (NASDAQ:FMNB) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. Farmers National Banc had a return on equity of 12.03% and a net margin of 20.52%.The business had revenue of $70.44 million during the quarter, compared to the consensus estimate of $70.10 million. Research analysts anticipate that Farmers National Banc will post 1.68 earnings per share for the current year.

Farmers National Banc Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Friday, September 11th. This is a positive change from Farmers National Banc’s previous quarterly dividend of $0.17. Farmers National Banc’s dividend payout ratio is 46.26%.

Insiders Place Their Bets

In related news, EVP Mark J. Wenick sold 5,000 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $15.97, for a total transaction of $79,850.00. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael C. Voinovich sold 23,309 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $14.21, for a total value of $331,220.89. Additional details regarding this sale are available in the official SEC disclosure. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Farmers National Banc

A number of hedge funds have recently made changes to their positions in FMNB. California State Teachers Retirement System lifted its stake in Farmers National Banc by 1,872.1% in the 2nd quarter. California State Teachers Retirement System now owns 1,038,396 shares of the bank’s stock valued at $15,161,000 after purchasing an additional 985,742 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Farmers National Banc by 13.5% in the 2nd quarter. BlackRock Inc. now owns 4,798,011 shares of the bank’s stock valued at $70,051,000 after acquiring an additional 569,057 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Farmers National Banc in the 2nd quarter valued at $6,827,000. Dimensional Fund Advisors LP boosted 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 acquiring an additional 302,397 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in Farmers National Banc during the 2nd quarter worth $3,354,000. 38.72% of the stock is currently owned by institutional investors and hedge funds.

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.