Farmers National Banc (NASDAQ:FMNB) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of Farmers National Banc (NASDAQ:FMNB) from a sell rating to a hold rating in a research note released on Saturday, October 19th, BidAskClub reports.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Farmers National Banc from a buy rating to a hold rating in a report on Wednesday, September 11th. Boenning Scattergood reaffirmed a buy rating and set a $15.50 price objective on shares of Farmers National Banc in a report on Wednesday, July 31st. Finally, ValuEngine raised shares of Farmers National Banc from a sell rating to a hold rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $15.50.

Shares of NASDAQ:FMNB traded up $0.14 during midday trading on Friday, reaching $15.57. The company had a trading volume of 23,800 shares, compared to its average volume of 31,801. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.87 and a current ratio of 0.88. Farmers National Banc has a 1-year low of $11.56 and a 1-year high of $15.63. The company has a fifty day simple moving average of $14.67 and a two-hundred day simple moving average of $14.35. The firm has a market cap of $429.67 million, a price-to-earnings ratio of 13.54 and a beta of 0.88.

Farmers National Banc (NASDAQ:FMNB) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.01. The business had revenue of $28.20 million during the quarter, compared to analyst estimates of $28.29 million. Farmers National Banc had a net margin of 27.11% and a return on equity of 12.68%. Analysts expect that Farmers National Banc will post 1.25 EPS for the current year.

Several institutional investors have recently made changes to their positions in FMNB. Macnealy Hoover Investment Management Inc. lifted its holdings in shares of Farmers National Banc by 2.2% in the second quarter. Macnealy Hoover Investment Management Inc. now owns 615,240 shares of the bank’s stock worth $9,124,000 after buying an additional 13,025 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in Farmers National Banc in the second quarter valued at approximately $454,000. Wells Fargo & Company MN raised its stake in Farmers National Banc by 48.5% in the second quarter. Wells Fargo & Company MN now owns 74,127 shares of the bank’s stock valued at $1,100,000 after purchasing an additional 24,222 shares in the last quarter. Acadian Asset Management LLC raised its stake in Farmers National Banc by 74.5% in the second quarter. Acadian Asset Management LLC now owns 70,404 shares of the bank’s stock valued at $1,045,000 after purchasing an additional 30,066 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in Farmers National Banc by 10.4% in the second quarter. Prudential Financial Inc. now owns 38,140 shares of the bank’s stock valued at $565,000 after purchasing an additional 3,602 shares in the last quarter. 37.87% of the stock is currently 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.

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