Zacks Investment Research Lowers Farmers National Banc (NASDAQ:FMNB) to Sell

Share on StockTwits

Zacks Investment Research lowered shares of Farmers National Banc (NASDAQ:FMNB) from a hold rating to a sell rating in a research report released on Thursday, 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. “

A number of other research analysts have also commented on FMNB. Raymond James began coverage on shares of 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 lowered shares of Virtu Financial from a sell rating to a strong sell rating in a research report on Wednesday, June 12th. Finally, ValuEngine lowered shares of 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 issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $15.17.

Shares of FMNB opened at $14.70 on Thursday. The company’s 50-day moving average is $14.22. The firm has a market capitalization of $408.53 million, a price-to-earnings ratio of 12.35 and a beta of 0.85. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.88 and a quick ratio of 0.87. Farmers National Banc has a 52 week low of $11.56 and a 52 week high of $16.90.

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

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

A number of hedge funds and other institutional investors have recently bought and sold shares of FMNB. Rhumbline Advisers raised its position in Farmers National Banc by 42.2% in the fourth quarter. Rhumbline Advisers now owns 35,758 shares of the bank’s stock valued at $456,000 after purchasing an additional 10,607 shares during the period. New York State Common Retirement Fund raised its position in Farmers National Banc by 2.3% in the fourth quarter. New York State Common Retirement Fund now owns 56,863 shares of the bank’s stock valued at $724,000 after purchasing an additional 1,272 shares during the period. BlackRock Inc. raised its position in Farmers National Banc by 6.2% in the fourth quarter. BlackRock Inc. now owns 1,436,794 shares of the bank’s stock valued at $18,305,000 after purchasing an additional 83,906 shares during the period. Bank of New York Mellon Corp raised its position in Farmers National Banc by 5.0% in the fourth quarter. Bank of New York Mellon Corp now owns 116,112 shares of the bank’s stock valued at $1,479,000 after purchasing an additional 5,550 shares during the period. Finally, Citigroup Inc. raised its position in Farmers National Banc by 17.2% in the fourth 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. 37.04% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also: Cost of Goods Sold (COGS)

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.



Latest News

Aircastle  Raised to “Strong-Buy” at Zacks Investment Research
Aircastle Raised to “Strong-Buy” at Zacks Investment Research
BidaskClub Upgrades GoPro  to “Hold”
BidaskClub Upgrades GoPro to “Hold”
BidaskClub Lowers CytomX Therapeutics  to Sell
BidaskClub Lowers CytomX Therapeutics to Sell
BidaskClub Upgrades Heska  to “Hold”
BidaskClub Upgrades Heska to “Hold”
American Software  Downgraded by BidaskClub to “Hold”
American Software Downgraded by BidaskClub to “Hold”
Sierra Bancorp  Upgraded at BidaskClub
Sierra Bancorp Upgraded at BidaskClub


 
© 2006-2019 Zolmax.