Farmers National Banc (NASDAQ:FMNB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage currently has a $17.00 price objective on the bank’s stock. Zacks Investment Research‘s target price indicates a potential upside of 12.58% from the stock’s previous close.
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. “
Several other analysts have also weighed in on the stock. ValuEngine lowered shares of Farmers National Banc from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $17.00 price target on shares of Farmers National Banc in a research report on Friday, December 22nd. Finally, BidaskClub downgraded shares of Farmers National Banc from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in Farmers National Banc in the 3rd quarter valued at $165,000. Cetera Investment Advisers acquired a new stake in Farmers National Banc in the 2nd quarter valued at $165,000. Stifel Financial Corp grew its position in Farmers National Banc by 6.4% in the 2nd quarter. Stifel Financial Corp now owns 13,244 shares of the bank’s stock valued at $192,000 after purchasing an additional 800 shares during the period. OxFORD Asset Management LLP purchased a new position in Farmers National Banc during the 2nd quarter worth $216,000. Finally, Alliancebernstein L.P. purchased a new position in Farmers National Banc during the 2nd quarter worth $238,000. 34.49% of the stock is owned by institutional investors and hedge funds.
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About Farmers National Banc
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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