Farmers National Banc (NASDAQ:FMNB) was upgraded by Zacks Investment Research from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.
According to Zacks, "Farmers National Banc Corp. is a one-bank holding with only one subsidiary, The Farmers National Bank of Canfield. They operate in one industry, domestic banking. The Bank is a full-service national bank engaged in commercial and retail banking. The Bank's commercial banking services include checking accounts, savings accounts, time deposit accounts, commercial, mortgage and installment loans, home equity loans, home equity lines of credit, night depository, safe deposit boxes, money orders, bank checks, automated teller machines and travelers checks. "
Several other research firms also recently commented on FMNB. ValuEngine downgraded shares of Farmers National Banc from a "hold" rating to a "sell" rating in a research report on Friday, April 3rd. TheStreet downgraded shares of Farmers National Banc from a "b-" rating to a "c+" rating in a research report on Friday, March 27th. Raymond James raised shares of Farmers National Banc from a "market perform" rating to an "outperform" rating and set a $13.00 target price for the company in a research report on Wednesday, June 17th. Finally, BidaskClub downgraded shares of Farmers National Banc from a "buy" rating to a "hold" rating in a research report on Friday, March 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of "Hold" and a consensus price target of $15.50.
FMNB opened at $10.86 on Wednesday. Farmers National Banc has a 1-year low of $9.82 and a 1-year high of $16.50. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.25. The company has a market cap of $322.90 million, a P/E ratio of 8.42 and a beta of 0.92. The company has a fifty day moving average price of $11.75 and a two-hundred day moving average price of $13.39.
Farmers National Banc (NASDAQ:FMNB) last posted its earnings results on Wednesday, April 29th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.23 by $0.11. The company had revenue of $30.02 million during the quarter, compared to the consensus estimate of $30.30 million. Farmers National Banc had a net margin of 26.71% and a return on equity of 12.61%. On average, research analysts forecast that Farmers National Banc will post 1.06 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the business. Farmers Trust Co. grew its position in Farmers National Banc by 1.4% in the 2nd quarter. Farmers Trust Co. now owns 254,130 shares of the bank's stock worth $3,014,000 after purchasing an additional 3,568 shares in the last quarter. Advisor Group Holdings Inc. bought a new stake in Farmers National Banc in the 1st quarter worth about $137,000. Meeder Asset Management Inc. grew its position in Farmers National Banc by 293.1% in the 1st quarter. Meeder Asset Management Inc. now owns 14,013 shares of the bank's stock worth $161,000 after purchasing an additional 10,448 shares in the last quarter. Invesco Ltd. bought a new stake in Farmers National Banc in the 1st quarter worth about $579,000. Finally, Two Sigma Investments LP grew its position in Farmers National Banc by 324.9% in the 1st quarter. Two Sigma Investments LP now owns 117,275 shares of the bank's stock worth $1,364,000 after purchasing an additional 89,672 shares in the last quarter. 41.19% of the stock is owned by institutional investors and hedge funds.
About Farmers National Banc
Farmers National Banc Corp., through its subsidiaries, operates in the banking, trust, retirement consulting, insurance, and financial management industries. The company offers commercial and retail banking services, including checking, savings, and time deposit accounts; commercial, mortgage and installment, and home equity loans; home equity lines of credit, night depository, safe deposit box, money order, bank check, automated teller machine, Internet banking, travel card, E bond transaction, MasterCard and Visa credit cards, brokerage, and other services.
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