Farmers National Banc (NASDAQ:FMNB) Raised to Buy at Wall Street Zen

Farmers National Banc (NASDAQ:FMNB) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other analysts have also recently issued reports on the stock. Piper Sandler lifted their target price on shares of Farmers National Banc from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. Weiss Ratings upgraded shares of Farmers National Banc from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 8th. Finally, Zacks Research upgraded shares of Farmers National Banc from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $16.00.

Farmers National Banc Price Performance

FMNB opened at $15.19 on Friday. The company has a market capitalization of $899.55 million, a PE ratio of 10.33 and a beta of 0.77. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.79 and a quick ratio of 0.79. Farmers National Banc has a fifty-two week low of $12.12 and a fifty-two week high of $15.50. The business has a 50-day moving average of $14.38 and a 200-day moving average of $13.74.

Farmers National Banc (NASDAQ:FMNB) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. Farmers National Banc had a return on equity of 13.14% and a net margin of 20.52%.The business had revenue of $70.44 million during the quarter, compared to analysts’ expectations of $70.10 million. Equities research analysts forecast that Farmers National Banc will post 1.64 EPS for the current fiscal year.

Insider Buying and Selling at Farmers National Banc

In related news, Director Michael C. Voinovich sold 23,309 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $14.21, for a total value of $331,220.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Farmers National Banc

Several large investors have recently added to or reduced their stakes in the company. Smithfield Trust Co acquired a new stake in shares of Farmers National Banc during the 4th quarter worth approximately $30,000. Godfrey Financial Associates Inc. acquired a new position in shares of Farmers National Banc in the fourth quarter valued at $37,000. Parallel Advisors LLC raised its stake in shares of Farmers National Banc by 86.1% in the first quarter. Parallel Advisors LLC now owns 2,784 shares of the bank’s stock valued at $37,000 after purchasing an additional 1,288 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Farmers National Banc by 9,065.7% in the third quarter. Russell Investments Group Ltd. now owns 3,208 shares of the bank’s stock worth $46,000 after purchasing an additional 3,173 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in Farmers National Banc by 49.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,519 shares of the bank’s stock worth $62,000 after purchasing an additional 1,487 shares during the period. Institutional investors and hedge funds own 38.72% of the company’s stock.

Farmers National Banc Company Profile

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.