Farmers National Banc (NASDAQ: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 published on Thursday morning, Zacks.com reports.

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 research analysts have also recently issued reports on FMNB. Raymond James started coverage on PennantPark Investment in a research report on Monday, April 29th. They set an outperform rating and a $8.00 price objective for the company. BidaskClub cut Virtu Financial from a sell rating to a strong sell rating in a research report on Wednesday, June 12th. Finally, ValuEngine cut WideOpenWest from a hold rating to a sell rating in a research report on Friday, June 28th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $15.17.

NASDAQ:FMNB opened at $14.70 on Thursday. The business’s 50-day simple moving average is $14.22. The firm has a market cap of $408.53 million, a PE ratio of 12.35 and a beta of 0.85. Farmers National Banc has a 1 year low of $11.56 and a 1 year high of $16.90. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.02.

Farmers National Banc (NASDAQ:FMNB) last released its quarterly earnings data on Wednesday, April 24th. The bank reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The business had revenue of $26.49 million during the quarter, compared to analysts’ expectations of $26.79 million. Farmers National Banc had a return on equity of 12.82% and a net margin of 27.42%. As a group, research analysts forecast that Farmers National Banc will post 1.25 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.09 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 2.45%. Farmers National Banc’s dividend payout ratio is currently 31.30%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its position in shares of Farmers National Banc by 509.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,301 shares of the bank’s stock valued at $73,000 after purchasing an additional 4,431 shares during the period. Bessemer Group Inc. boosted its position in shares of Farmers National Banc by 14.9% in the 4th quarter. Bessemer Group Inc. now owns 7,700 shares of the bank’s stock valued at $98,000 after purchasing an additional 1,000 shares during the period. Citigroup Inc. boosted its position in shares of Farmers National Banc by 17.2% in the 4th quarter. Citigroup Inc. now owns 7,942 shares of the bank’s stock valued at $101,000 after purchasing an additional 1,164 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of Farmers National Banc by 405.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,719 shares of the bank’s stock valued at $111,000 after purchasing an additional 6,995 shares during the period. Finally, Stifel Financial Corp boosted its position in shares of Farmers National Banc by 49.4% in the 4th quarter. Stifel Financial Corp now owns 19,361 shares of the bank’s stock valued at $246,000 after purchasing an additional 6,400 shares during the period. 37.04% of the stock is owned by hedge funds and other institutional investors.

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, MasterCard and Visa credit cards, brokerage, and other services.

Further Reading: Cash Asset Ratio

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