Farmers National Banc (NASDAQ:FMNB) Cut to Sell at StockNews.com

StockNews.com cut shares of Farmers National Banc (NASDAQ:FMNB) from a hold rating to a sell rating in a research note published on Wednesday.

Separately, Piper Sandler reiterated a “neutral” rating and issued a $17.00 target price on shares of Farmers National Banc in a report on Thursday, November 21st.

Farmers National Banc Price Performance

NASDAQ FMNB opened at $15.29 on Wednesday. Farmers National Banc has a fifty-two week low of $11.55 and a fifty-two week high of $16.32. The stock’s 50-day moving average is $15.05 and its two-hundred day moving average is $14.26. The firm has a market cap of $574.75 million, a P/E ratio of 12.43 and a beta of 0.86. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.74 and a quick ratio of 0.74.

Farmers National Banc (NASDAQ:FMNB) last announced its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). Farmers National Banc had a return on equity of 11.92% and a net margin of 17.26%. The company had revenue of $70.26 million for the quarter, compared to the consensus estimate of $42.90 million. On average, analysts anticipate that Farmers National Banc will post 1.23 earnings per share for the current fiscal year.

Farmers National Banc Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Friday, December 13th. Farmers National Banc’s dividend payout ratio is currently 55.28%.

Institutional Investors Weigh In On Farmers National Banc

Several hedge funds have recently modified their holdings of FMNB. Price T Rowe Associates Inc. MD acquired a new position in Farmers National Banc during the 1st quarter valued at $140,000. Busey Bank bought a new position in shares of Farmers National Banc during the 2nd quarter worth about $224,000. Bank of New York Mellon Corp raised its position in shares of Farmers National Banc by 5.7% during the second quarter. Bank of New York Mellon Corp now owns 226,896 shares of the bank’s stock valued at $2,834,000 after buying an additional 12,160 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Farmers National Banc by 2.9% in the second quarter. American Century Companies Inc. now owns 300,777 shares of the bank’s stock valued at $3,757,000 after buying an additional 8,525 shares during the period. Finally, HBK Sorce Advisory LLC grew its position in Farmers National Banc by 4.8% during the second quarter. HBK Sorce Advisory LLC now owns 49,661 shares of the bank’s stock worth $620,000 after buying an additional 2,258 shares in the last quarter. 38.72% of the stock is owned by institutional investors.

Farmers National Banc Company Profile

Farmers National Banc Corp. operates as a bank holding company for The Farmers National Bank of Canfield engages in the banking, trust, retirement consulting, insurance, and financial management businesses. It 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, brokerage, and other services.