Farmers National Banc (FMNB) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Farmers National Banc (NASDAQ:FMNB) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

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. “

FMNB has been the subject of a number of other reports. BidaskClub raised Farmers National Banc from a sell rating to a hold rating in a research note on Wednesday, January 2nd. ValuEngine lowered Farmers National Banc from a hold rating to a sell rating in a research note on Thursday, January 10th. Finally, Boenning Scattergood began coverage on Farmers National Banc in a research note on Tuesday, December 18th. They set an outperform rating and a $14.50 price target for the company. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Farmers National Banc has an average rating of Hold and an average price target of $16.50.

Shares of NASDAQ:FMNB traded up $0.17 during trading on Wednesday, hitting $14.89. 19,185 shares of the company’s stock were exchanged, compared to its average volume of 23,693. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.02. Farmers National Banc has a 52-week low of $11.56 and a 52-week high of $16.90. The stock has a market capitalization of $409.43 million, a P/E ratio of 12.95 and a beta of 0.74.

Farmers National Banc (NASDAQ:FMNB) last released its earnings results on Wednesday, January 30th. The bank reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. Farmers National Banc had a return on equity of 13.18% and a net margin of 27.77%. The firm had revenue of $26.78 million during the quarter, compared to analysts’ expectations of $27.21 million. On average, research analysts predict that Farmers National Banc will post 1.25 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 8th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, March 7th. This is a positive change from Farmers National Banc’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 2.42%. Farmers National Banc’s dividend payout ratio is presently 27.83%.

In other news, Director Gregory C. Bestic purchased 8,100 shares of the company’s stock in a transaction that occurred on Friday, December 21st. The stock was bought at an average cost of $12.12 per share, with a total value of $98,172.00. Following the completion of the purchase, the director now owns 34,097 shares in the company, valued at $413,255.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have purchased 9,277 shares of company stock valued at $132,868. 9.11% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of FMNB. Acadian Asset Management LLC lifted its stake in shares of Farmers National Banc by 34.1% in the 3rd quarter. Acadian Asset Management LLC now owns 29,697 shares of the bank’s stock valued at $454,000 after purchasing an additional 7,557 shares during the last quarter. Stone Ridge Asset Management LLC bought a new stake in shares of Farmers National Banc in the 3rd quarter valued at approximately $153,000. PNC Financial Services Group Inc. lifted its stake in shares of Farmers National Banc by 14.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 78,308 shares of the bank’s stock valued at $1,199,000 after purchasing an additional 9,775 shares during the last quarter. Martingale Asset Management L P lifted its stake in shares of Farmers National Banc by 19.2% in the 3rd quarter. Martingale Asset Management L P now owns 68,241 shares of the bank’s stock valued at $1,045,000 after purchasing an additional 11,008 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in shares of Farmers National Banc by 1.8% in the 3rd quarter. BlackRock Inc. now owns 1,352,888 shares of the bank’s stock valued at $20,699,000 after purchasing an additional 23,333 shares during the last quarter. 35.97% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: Return on Equity (ROE)

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