Farmers National Banc (FMNB) Lowered to “Sell” at Zacks Investment Research

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

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. “

A number of other brokerages have also issued reports on FMNB. BidaskClub lowered Farmers National Banc from a hold rating to a sell rating in a research report on Thursday, August 30th. ValuEngine downgraded Farmers National Banc from a hold rating to a sell rating in a research note on Thursday, September 27th. Finally, Raymond James decreased their price target on Farmers National Banc from $18.00 to $17.00 and set a buy rating for the company in a research note on Friday, October 26th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Farmers National Banc presently has a consensus rating of Hold and an average target price of $17.00.

NASDAQ:FMNB opened at $12.83 on Thursday. Farmers National Banc has a 1-year low of $12.55 and a 1-year high of $16.90. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $349.99 million, a price-to-earnings ratio of 14.26 and a beta of 0.67.

Farmers National Banc (NASDAQ:FMNB) last released its earnings results on Wednesday, October 24th. The bank reported $0.29 earnings per share for the quarter, meeting the consensus estimate of $0.29. Farmers National Banc had a return on equity of 12.61% and a net margin of 25.71%. The firm had revenue of $26.40 million for the quarter, compared to analyst estimates of $26.80 million. Research analysts anticipate that Farmers National Banc will post 1.14 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.32 dividend on an annualized basis and a yield of 2.49%. Farmers National Banc’s dividend payout ratio is 35.56%.

In related news, Director Edward Muransky purchased 3,000 shares of the firm’s stock in a transaction on Friday, October 26th. The stock was purchased at an average cost of $13.29 per share, for a total transaction of $39,870.00. Following the completion of the purchase, the director now directly owns 20,246 shares in the company, valued at $269,069.34. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders acquired 3,972 shares of company stock valued at $73,013. Corporate insiders own 9.11% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Stone Ridge Asset Management LLC bought a new position in shares of Farmers National Banc during the 3rd quarter worth approximately $153,000. MetLife Investment Advisors LLC boosted its stake in shares of Farmers National Banc by 52.1% during the 3rd quarter. MetLife Investment Advisors LLC now owns 20,409 shares of the bank’s stock worth $312,000 after acquiring an additional 6,995 shares during the period. Macquarie Group Ltd. bought a new position in shares of Farmers National Banc during the 2nd quarter worth approximately $353,000. Acadian Asset Management LLC boosted its stake in shares of Farmers National Banc by 245.8% during the 2nd quarter. Acadian Asset Management LLC now owns 22,140 shares of the bank’s stock worth $354,000 after acquiring an additional 15,737 shares during the period. Finally, Wedge Capital Management L L P NC bought a new position in shares of Farmers National Banc during the 2nd quarter worth approximately $384,000. Institutional investors own 35.83% of the company’s stock.

About Farmers National Banc

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.

Featured Article: Understanding Market Liquidity

Get a free copy of the Zacks research report on Farmers National Banc (FMNB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Farmers National Banc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Farmers National Banc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply