Farmers National Banc (NASDAQ:FMNB) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Farmers National Banc from “Buy” to “Hold.” Other analysts also lean neutral, with the stock carrying an average “Hold” rating and a $16.00 consensus price target.
• Farmers National Banc reported quarterly earnings of $0.41 per share, beating the $0.34 analyst estimate, while revenue of $70.44 million slightly exceeded expectations.
• FMNB shares opened at $15.86, near their 52-week high of $16.09. Institutional investors own 38.72% of the stock, while an insider recently sold 23,309 shares.

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

Several other equities analysts have also commented on FMNB. Piper Sandler upped their price target on shares of Farmers National Banc from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, April 23rd. Weiss Ratings upgraded shares of Farmers National Banc from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $16.00.

Farmers National Banc Price Performance

Shares of NASDAQ FMNB opened at $15.86 on Friday. Farmers National Banc has a 52 week low of $12.12 and a 52 week high of $16.09. The stock has a market cap of $939.23 million, a price-to-earnings ratio of 10.79 and a beta of 0.77. 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 company's 50-day moving average price is $14.56 and its 200 day moving average price is $13.82.

Farmers National Banc (NASDAQ:FMNB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. The firm had revenue of $70.44 million during the quarter, compared to the consensus estimate 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, research analysts forecast that Farmers National Banc will post 1.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Farmers National Banc news, Director Michael C. Voinovich sold 23,309 shares of the business's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $14.21, for a total transaction of $331,220.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FMNB. Vanguard Group Inc. lifted its holdings in Farmers National Banc by 2.5% in the third quarter. Vanguard Group Inc. now owns 2,127,360 shares of the bank's stock worth $30,655,000 after purchasing an additional 52,854 shares during the period. Dimensional Fund Advisors LP increased its stake in 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. The Manufacturers Life Insurance Company increased its stake in Farmers National Banc by 17.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 470,132 shares of the bank's stock valued at $6,187,000 after buying an additional 68,445 shares during the period. Beese Fulmer Investment Management Inc. raised its position in shares of Farmers National Banc by 11.8% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 374,090 shares of the bank's stock worth $4,983,000 after buying an additional 39,539 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Farmers National Banc by 21.9% during the 1st quarter. Bank of New York Mellon Corp now owns 337,929 shares of the bank's stock worth $4,447,000 after buying an additional 60,820 shares in the last quarter. 38.72% of the stock is owned by institutional investors and hedge funds.

About Farmers National Banc

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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