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

Key Points

• Farmers National Banc was upgraded by Wall Street Zen from “hold” to “buy”, adding to a mixed analyst picture that still leaves the stock with an average Hold rating and a consensus target price of $16.00.
• The company recently reported better-than-expected earnings, posting $0.41 EPS versus the $0.34 estimate, while revenue of $70.44 million also came in slightly ahead of forecasts.
• FMNB was trading at $15.19 with a market cap of about $899.6 million; the stock has risen near its 52-week high of $15.50 and remains above both its 50-day and 200-day moving averages.

Farmers National Banc (NASDAQ:FMNB - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Other research analysts have also issued research reports about the stock. 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. Weiss Ratings raised Farmers National Banc from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, May 8th. Finally, Piper Sandler lifted their price target on Farmers National Banc from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Farmers National Banc presently has an average rating of "Hold" and a consensus target price of $16.00.

Farmers National Banc Stock Performance

FMNB stock opened at $15.19 on Friday. The company has a 50-day simple moving average of $14.38 and a 200 day simple moving average of $13.74. The company has a market capitalization of $899.55 million, a P/E ratio of 10.33 and a beta of 0.77. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.19. Farmers National Banc has a fifty-two week low of $12.12 and a fifty-two week high of $15.50.

Farmers National Banc (NASDAQ:FMNB - Get Free Report) last released its earnings results on Wednesday, July 22nd. The bank reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. Farmers National Banc had a net margin of 20.52% and a return on equity of 13.14%. The firm had revenue of $70.44 million for the quarter, compared to analysts' expectations of $70.10 million. Sell-side analysts predict that Farmers National Banc will post 1.62 earnings per share for the current fiscal year.

Insider Activity at Farmers National Banc

In related 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 value of $331,220.89. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its position in shares of Farmers National Banc by 6.4% during the 1st quarter. SG Americas Securities LLC now owns 15,227 shares of the bank's stock valued at $200,000 after acquiring an additional 920 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Farmers National Banc by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,652 shares of the bank's stock worth $283,000 after acquiring an additional 936 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Farmers National Banc by 3.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,607 shares of the bank's stock worth $368,000 after acquiring an additional 940 shares during the last quarter. HBK Sorce Advisory LLC raised its position in shares of Farmers National Banc by 2.3% during the fourth quarter. HBK Sorce Advisory LLC now owns 42,083 shares of the bank's stock worth $569,000 after purchasing an additional 966 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Farmers National Banc by 12.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 9,814 shares of the bank's stock worth $131,000 after purchasing an additional 1,083 shares during the period. Institutional investors and hedge funds 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.

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