Farmers National Banc (NASDAQ:FMNB) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Farmers National Banc from “buy” to “hold.” The broader analyst consensus is also “Hold,” with an average price target of $17.00.
• FMNB shares opened at $15.64, near their 52-week high of $16.46, while the company reported quarterly EPS of $0.47—beating estimates of $0.39—despite revenue falling short of forecasts.
• Institutional investors own 38.72% of the company, while insiders own 3.50%; an executive recently sold 5,000 shares for approximately $79,850.

Farmers National Banc (NASDAQ:FMNB - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

FMNB has been the subject of a number of other reports. Weiss Ratings restated a "buy (b)" rating on shares of Farmers National Banc in a research report on Monday. Piper Sandler upped their target price on Farmers National Banc from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Thursday. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $17.00.

Farmers National Banc Stock Performance

Shares of FMNB opened at $15.64 on Friday. Farmers National Banc has a one year low of $12.12 and a one year high of $16.46. The company has a 50-day moving average of $15.48 and a two-hundred day moving average of $14.39. The stock has a market cap of $926.67 million, a price-to-earnings ratio of 9.12 and a beta of 0.78. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.79 and a quick ratio of 0.79.

Farmers National Banc (NASDAQ:FMNB - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $65.87 million for the quarter, compared to analyst estimates of $70.75 million. Farmers National Banc had a net margin of 19.60% and a return on equity of 12.90%. On average, equities research analysts expect that Farmers National Banc will post 1.71 earnings per share for the current year.

Insider Activity at Farmers National Banc

In other news, EVP Mark Wenick sold 5,000 shares of the firm's 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 owned 32,020 shares in the company, valued at approximately $511,359.40. This trade represents a 13.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.50% of the stock is currently owned by company insiders.

Institutional Trading of Farmers National Banc

Institutional investors and hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC bought a new position in shares of Farmers National Banc during the 2nd quarter worth about $25,000. Parallel Advisors LLC lifted its stake in shares of Farmers National Banc by 86.1% in the first quarter. Parallel Advisors LLC now owns 2,784 shares of the bank's stock valued at $37,000 after buying an additional 1,288 shares during the period. Versant Capital Management Inc lifted its stake in shares of Farmers National Banc by 105.6% in the third quarter. Versant Capital Management Inc now owns 3,857 shares of the bank's stock valued at $58,000 after buying an additional 1,981 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Farmers National Banc by 8.8% in the third quarter. State of Alaska Department of Revenue now owns 9,058 shares of the bank's stock valued at $135,000 after buying an additional 731 shares during the period. Finally, Apollon Wealth Management LLC acquired a new stake in Farmers National Banc during the first quarter worth about $138,000. Institutional investors and hedge funds own 38.72% of the company's stock.

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.

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