Farmers National Banc Corp.’s (FMNB) Buy Rating Reaffirmed at Keefe, Bruyette & Woods
Keefe, Bruyette & Woods restated their buy rating on shares of Farmers National Banc Corp. (NASDAQ:FMNB) in a research note published on Tuesday. They currently have a $16.00 price target on the bank’s stock.
Several other research firms also recently weighed in on FMNB. BidaskClub downgraded shares of Farmers National Banc Corp. from a sell rating to a strong sell rating in a research note on Friday, August 4th. Zacks Investment Research upgraded shares of Farmers National Banc Corp. from a hold rating to a buy rating and set a $17.00 price target for the company in a research report on Tuesday, June 13th.
Shares of Farmers National Banc Corp. (FMNB) remained flat at $15.60 during mid-day trading on Tuesday. 3,262 shares of the company were exchanged. Farmers National Banc Corp. has a 1-year low of $9.98 and a 1-year high of $15.85. The company has a market cap of $422.42 million, a price-to-earnings ratio of 19.16 and a beta of 0.46. The stock has a 50-day moving average price of $13.88 and a 200 day moving average price of $14.01.
Farmers National Banc Corp. (NASDAQ:FMNB) last announced its quarterly earnings data on Wednesday, July 26th. The bank reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.01). Farmers National Banc Corp. had a net margin of 22.19% and a return on equity of 10.25%. The business had revenue of $24.43 million during the quarter, compared to analysts’ expectations of $24.80 million. Equities analysts expect that Farmers National Banc Corp. will post $0.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were issued a dividend of $0.06 per share. The ex-dividend date was Thursday, September 7th. This is a boost from Farmers National Banc Corp.’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.54%. Farmers National Banc Corp.’s dividend payout ratio is currently 29.27%.
In related news, insider Mark J. Wenick acquired 2,200 shares of the stock in a transaction on Wednesday, August 2nd. The stock was purchased at an average price of $14.10 per share, for a total transaction of $31,020.00. Following the completion of the transaction, the insider now owns 8,690 shares of the company’s stock, valued at approximately $122,529. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders acquired a total of 4,390 shares of company stock worth $60,696 over the last ninety days. Insiders own 7.80% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Bessemer Group Inc. purchased a new position in shares of Farmers National Banc Corp. in the second quarter worth $141,000. Cetera Investment Advisers bought a new stake in Farmers National Banc Corp. during the 2nd quarter valued at $165,000. Prudential Financial Inc. raised its holdings in Farmers National Banc Corp. by 0.9% during the 1st quarter. Prudential Financial Inc. now owns 11,810 shares of the bank’s stock valued at $169,000 after buying an additional 100 shares during the last quarter. Menta Capital LLC bought a new stake in Farmers National Banc Corp. during the 1st quarter valued at $174,000. Finally, O Shaughnessy Asset Management LLC raised its holdings in Farmers National Banc Corp. by 206.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 13,114 shares of the bank’s stock valued at $188,000 after buying an additional 8,836 shares during the last quarter. Hedge funds and other institutional investors own 34.34% of the company’s stock.
About Farmers National Banc Corp.
Farmers National Banc Corp. is a one-bank holding company. The Company’s principal business consists of owning and supervising its subsidiaries. The Company operates through tree segments: the Bank, Trust and Retirement Consulting. The Company operates principally through its subsidiaries, The Farmers National Bank of Canfield (the Bank or Farmers Bank), Farmers Trust Company (Trust or Farmers Trust), National Associates, Inc (NAI) and Farmers National Captive, Inc (Captive).
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