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Raymond James Increases Farmers National Banc (NASDAQ:FMNB) Price Target to $21.00

Last updated on Thursday, January 6, 2022 | 2022 MarketBeat

Farmers National Banc (NASDAQ:FMNB) had its price target raised by equities researchers at Raymond James from $20.00 to $21.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an "outperform" rating on the bank's stock. Raymond James' price objective would suggest a potential upside of 10.99% from the company's current price.

Separately, Zacks Investment Research lowered Farmers National Banc from a "buy" rating to a "hold" rating in a research note on Wednesday.

Shares of Farmers National Banc stock opened at $18.92 on Thursday. Farmers National Banc has a 12-month low of $13.03 and a 12-month high of $19.32. The stock has a market cap of $535.85 million, a P/E ratio of 9.37 and a beta of 0.95. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.13. The business's 50 day moving average is $18.26 and its 200-day moving average is $16.62.

Farmers National Banc (NASDAQ:FMNB) last posted its quarterly earnings results on Tuesday, October 26th. The bank reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.05. Farmers National Banc had a return on equity of 16.50% and a net margin of 37.40%. The business had revenue of $35.55 million for the quarter, compared to analysts' expectations of $35.95 million. On average, sell-side analysts expect that Farmers National Banc will post 2.14 EPS for the current year.

In related news, Director Edward Muransky bought 5,000 shares of the business's stock in a transaction that occurred on Friday, November 26th. The shares were bought at an average price of $17.58 per share, with a total value of $87,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 21,435 shares of company stock valued at $379,611 in the last three months. Insiders own 8.86% of the company's stock.

Several institutional investors and hedge funds have recently modified their holdings of FMNB. The Manufacturers Life Insurance Company raised its stake in shares of Farmers National Banc by 1,953.0% in the second quarter. The Manufacturers Life Insurance Company now owns 341,960 shares of the bank's stock valued at $5,303,000 after buying an additional 325,303 shares during the period. Kennedy Capital Management Inc. purchased a new position in shares of Farmers National Banc in the 2nd quarter worth about $3,875,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Farmers National Banc by 32.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 452,946 shares of the bank's stock worth $7,116,000 after purchasing an additional 110,986 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Farmers National Banc in the 2nd quarter valued at about $1,350,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Farmers National Banc by 13.8% in the 3rd quarter. Renaissance Technologies LLC now owns 356,884 shares of the bank's stock valued at $5,607,000 after acquiring an additional 43,200 shares during the last quarter. Hedge funds and other institutional investors own 41.22% of the company's stock.

About Farmers National Banc

Farmers National Banc Corp. is a bank and financial holding company, which engages in the provision of financial and banking services through its subsidiary, The Farmers National Bank of Canfield. It operates through Bank and Trust segments. The Bank segment comprises commercial and retail banking services including checking accounts, savings accounts, time deposit accounts, commercial, mortgage, and installment loans.

See Also: FTSE 100 Index

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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