Wall Street Zen Downgrades Farmers National Banc (NASDAQ:FMNB) to Hold

Key Points

• Wall Street Zen downgraded Farmers National Banc to “Hold” from “Buy,” while Weiss Ratings upgraded it to “Buy (b).” The stock’s overall analyst consensus is “Hold,” with an average price target of $16.00.
• FMNB shares opened at $15.69, within a 12-month range of $12.12 to $16.46. The bank reported quarterly EPS of $0.41, beating estimates of $0.34, and revenue of $70.44 million.
• Institutional investors own 38.72% of the company and several funds increased their positions during the first quarter. Two insiders sold shares recently, while total insider ownership stands at 3.50%.

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

Separately, Weiss Ratings raised Farmers National Banc from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $16.00.

Farmers National Banc Stock Performance

Shares of FMNB opened at $15.69 on Friday. The firm's 50 day moving average is $15.07 and its 200-day moving average is $14.09. The stock has a market capitalization of $929.63 million, a P/E ratio of 10.67 and a beta of 0.76. 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 has a 12-month low of $12.12 and a 12-month high of $16.46.

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, topping analysts' consensus estimates of $0.34 by $0.07. Farmers National Banc had a net margin of 20.52% and a return on equity of 12.03%. The business had revenue of $70.44 million for the quarter, compared to the consensus estimate of $70.10 million. Equities research analysts anticipate that Farmers National Banc will post 1.68 EPS for the current fiscal year.

Insider Buying and Selling at Farmers National Banc

In other news, Director Michael C. Voinovich sold 23,309 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $14.21, for a total value of $331,220.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark J. Wenick sold 5,000 shares of the firm's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $15.97, for a total value of $79,850.00. Following the completion of the sale, the executive vice president directly owned 32,020 shares of the company's stock, valued at approximately $511,359.40. This trade represents a 13.51% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Farmers National Banc

Institutional investors and hedge funds have recently bought and sold shares of the business. Y Intercept Hong Kong Ltd acquired a new stake in Farmers National Banc in the first quarter valued at approximately $1,426,000. The Manufacturers Life Insurance Company increased its stake in shares of 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 worth $6,187,000 after purchasing an additional 68,445 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of 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 purchasing an additional 302,397 shares in the last quarter. Staley Capital Advisers Inc. raised its holdings in shares of Farmers National Banc by 42.8% during the 1st quarter. Staley Capital Advisers Inc. now owns 250,251 shares of the bank's stock valued at $3,293,000 after purchasing an additional 75,000 shares in the last quarter. Finally, Demming Financial Services Corp ADV acquired a new stake in shares of Farmers National Banc in the 1st quarter valued at $796,000. Hedge funds and other institutional investors own 38.72% of the company's stock.

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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