Zacks Investment Research Downgrades Farmers National Banc (FMNB) to Hold

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Farmers National Banc (NASDAQ:FMNB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, September 18th.

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. “

Separately, BidaskClub lowered Farmers National Banc from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Farmers National Banc presently has an average rating of “Hold” and a consensus target price of $17.00.

NASDAQ:FMNB traded down $0.53 during mid-day trading on Tuesday, reaching $14.17. The company’s stock had a trading volume of 58,221 shares, compared to its average volume of 32,082. Farmers National Banc has a 12-month low of $12.80 and a 12-month high of $16.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market cap of $422.91 million, a price-to-earnings ratio of 15.74 and a beta of 0.42.

Farmers National Banc (NASDAQ:FMNB) last issued its earnings results on Wednesday, July 18th. The bank reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.01. Farmers National Banc had a return on equity of 11.96% and a net margin of 24.60%. The business had revenue of $25.87 million during the quarter, compared to analyst estimates of $25.90 million. As a group, research analysts predict that Farmers National Banc will post 1.15 earnings per share for the current year.

In other Farmers National Banc news, Director Edward Muransky bought 4,000 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was acquired at an average price of $15.86 per share, with a total value of $63,440.00. Following the transaction, the director now owns 13,044 shares in the company, valued at $206,877.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders acquired 5,095 shares of company stock valued at $80,587. 9.11% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Van Hulzen Asset Management LLC grew its stake in shares of Farmers National Banc by 23.3% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 24,268 shares of the bank’s stock valued at $387,000 after purchasing an additional 4,590 shares during the period. Prudential Financial Inc. grew its stake in shares of Farmers National Banc by 39.1% during the 1st quarter. Prudential Financial Inc. now owns 25,600 shares of the bank’s stock valued at $354,000 after purchasing an additional 7,200 shares during the period. Martingale Asset Management L P grew its stake in shares of Farmers National Banc by 12.8% during the 2nd quarter. Martingale Asset Management L P now owns 57,233 shares of the bank’s stock valued at $913,000 after purchasing an additional 6,500 shares during the period. Farmers Trust Co. grew its stake in shares of Farmers National Banc by 6.6% during the 3rd quarter. Farmers Trust Co. now owns 256,689 shares of the bank’s stock valued at $3,928,000 after purchasing an additional 15,859 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Farmers National Banc by 14.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 544,322 shares of the bank’s stock valued at $7,539,000 after purchasing an additional 68,327 shares during the period. Institutional investors and hedge funds own 35.61% of the company’s stock.

Farmers National Banc Company Profile

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, credit card, brokerage, and other services.

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