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

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

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

Farmers National Banc Stock Up 2.5%

FMNB stock opened at $15.19 on Friday. 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 firm has a market capitalization of $899.55 million, a P/E ratio of 10.33 and a beta of 0.77. Farmers National Banc has a 52-week low of $12.12 and a 52-week high of $15.50. The company’s 50 day simple moving average is $14.38 and its 200-day simple moving average is $13.74.

Farmers National Banc (NASDAQ:FMNB) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. Farmers National Banc had a net margin of 20.52% and a return on equity of 13.14%. The firm had revenue of $70.44 million for the quarter, compared to analysts’ expectations of $70.10 million. As a group, equities research analysts anticipate that Farmers National Banc will post 1.62 EPS for the current year.

Insider Activity

In related news, Director Michael C. Voinovich sold 23,309 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $14.21, for a total transaction of $331,220.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Farmers National Banc by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,127,360 shares of the bank’s stock worth $30,655,000 after purchasing an additional 52,854 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Farmers National Banc by 24.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,539,834 shares of the bank’s stock valued at $20,264,000 after buying an additional 302,397 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Farmers National Banc by 17.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 470,132 shares of the bank’s stock valued at $6,187,000 after buying an additional 68,445 shares in the last quarter. Beese Fulmer Investment Management Inc. grew its stake in shares of Farmers National Banc by 11.8% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 374,090 shares of the bank’s stock valued at $4,983,000 after buying an additional 39,539 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Farmers National Banc by 21.9% in the first quarter. Bank of New York Mellon Corp now owns 337,929 shares of the bank’s stock worth $4,447,000 after buying an additional 60,820 shares during the last quarter. Hedge funds and other institutional investors own 38.72% of the company’s stock.

About Farmers National Banc

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.