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

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

A number of other brokerages have also recently commented on FMNB. Piper Sandler raised their price objective on 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 “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.00.

Farmers National Banc Price Performance

FMNB stock opened at $16.06 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.79 and a quick ratio of 0.79. The company’s 50-day moving average is $14.79 and its 200-day moving average is $13.94. The stock has a market capitalization of $951.55 million, a PE ratio of 10.93 and a beta of 0.76. Farmers National Banc has a 1 year low of $12.12 and a 1 year high of $16.16.

Farmers National Banc (NASDAQ:FMNB) last issued its earnings results on Wednesday, July 22nd. The bank reported $0.41 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $70.10 million. Equities research analysts expect that Farmers National Banc will post 1.68 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Mark J. Wenick sold 5,000 shares of Farmers National Banc stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $15.97, for a total transaction of $79,850.00. Following the transaction, the executive vice president owned 32,020 shares of the company’s stock, valued at $511,359.40. The trade was a 13.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael C. Voinovich sold 23,309 shares of the company’s 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 disclosure for this sale is available in the SEC filing. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Farmers National Banc

A number of hedge funds have recently bought and sold shares of FMNB. Smithfield Trust Co purchased a new stake in shares of Farmers National Banc in the fourth quarter valued at about $30,000. Godfrey Financial Associates Inc. purchased a new position in Farmers National Banc during the fourth quarter worth about $37,000. Parallel Advisors LLC boosted its holdings in Farmers National Banc by 86.1% during the first quarter. Parallel Advisors LLC now owns 2,784 shares of the bank’s stock worth $37,000 after purchasing an additional 1,288 shares during the last quarter. Russell Investments Group Ltd. grew its position in Farmers National Banc by 9,065.7% in the 3rd 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 in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Farmers National Banc by 49.0% in the 2nd 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 in the last quarter. 38.72% of the stock is owned by hedge funds and other institutional investors.

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.