Farmers National Banc (NASDAQ:FMNB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Farmers National Banc (NASDAQ:FMNB) from a hold rating to a buy rating in a research note released on Sunday morning,Wall Street Zen reports.

Separately, Weiss Ratings raised Farmers National Banc from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Buy rating and two have issued 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 Stock Down 1.5%

FMNB stock opened at $15.37 on Friday. Farmers National Banc has a twelve month low of $12.12 and a twelve month high of $16.46. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.12. The firm has a market cap of $910.67 million, a PE ratio of 10.46 and a beta of 0.76. The business has a 50 day moving average of $15.26 and a 200 day moving average of $14.21.

Farmers National Banc (NASDAQ:FMNB) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Farmers National Banc had a return on equity of 12.03% and a net margin of 20.52%.The business had revenue of $70.44 million during the quarter, compared to analysts’ expectations of $70.10 million. On average, research analysts forecast that Farmers National Banc will post 1.68 EPS for the current fiscal year.

Farmers National Banc Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be given a $0.18 dividend. This is a boost from Farmers National Banc’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.72 dividend on an annualized basis and a yield of 4.7%. Farmers National Banc’s payout ratio is presently 46.26%.

Insiders Place Their Bets

In other news, Director Michael C. Voinovich sold 23,309 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $14.21, for a total transaction of $331,220.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark J. Wenick sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $15.97, for a total transaction of $79,850.00. Following the sale, the executive vice president directly owned 32,020 shares of the company’s stock, valued at approximately $511,359.40. This represents a 13.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Farmers National Banc

A number of hedge funds and other institutional investors have recently modified their holdings of FMNB. AQR Capital Management LLC lifted its stake in shares of Farmers National Banc by 94.6% during the 1st quarter. AQR Capital Management LLC now owns 27,870 shares of the bank’s stock valued at $364,000 after buying an additional 13,548 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Farmers National Banc by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,652 shares of the bank’s stock worth $283,000 after buying an additional 936 shares in the last quarter. Empowered Funds LLC raised its holdings in Farmers National Banc by 50.3% during the first quarter. Empowered Funds LLC now owns 38,058 shares of the bank’s stock valued at $497,000 after acquiring an additional 12,735 shares during the period. Jane Street Group LLC bought a new stake in Farmers National Banc during the first quarter valued at about $830,000. Finally, Legal & General Group Plc lifted its position in shares of Farmers National Banc by 18.2% in the second quarter. Legal & General Group Plc now owns 36,462 shares of the bank’s stock valued at $503,000 after acquiring an additional 5,612 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.