Farmers National Banc (NASDAQ:FMNB) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Farmers National Banc (NASDAQ:FMNB) from a hold rating to a strong sell rating in a report released on Monday morning,Zacks.com reports.

A number of other equities research analysts have also recently commented on FMNB. Piper Sandler reduced their target price on shares of Farmers National Banc from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, January 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Farmers National Banc in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded Farmers National Banc from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $14.50.

Farmers National Banc Trading Up 0.6%

NASDAQ:FMNB opened at $13.24 on Monday. The stock has a 50-day simple moving average of $13.64 and a 200-day simple moving average of $13.87. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market cap of $498.49 million, a P/E ratio of 9.13 and a beta of 0.85. Farmers National Banc has a 1 year low of $11.58 and a 1 year high of $15.50.

Farmers National Banc (NASDAQ:FMNB) last announced its quarterly earnings results on Wednesday, January 28th. The bank reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.07). Farmers National Banc had a net margin of 19.50% and a return on equity of 13.34%. The company had revenue of $49.89 million during the quarter, compared to analysts’ expectations of $50.70 million. As a group, analysts anticipate that Farmers National Banc will post 1.45 earnings per share for the current fiscal year.

Farmers National Banc Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a $0.17 dividend. The ex-dividend date is Friday, February 13th. This represents a $0.68 annualized dividend and a dividend yield of 5.1%. Farmers National Banc’s dividend payout ratio is 46.90%.

Institutional Investors Weigh In On Farmers National Banc

Institutional investors have recently modified their holdings of the stock. First Trust Advisors LP boosted its position in shares of Farmers National Banc by 454.6% during the third quarter. First Trust Advisors LP now owns 137,655 shares of the bank’s stock worth $1,984,000 after buying an additional 112,834 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Farmers National Banc by 42.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 220,076 shares of the bank’s stock valued at $3,171,000 after acquiring an additional 65,569 shares during the period. Jane Street Group LLC bought a new stake in Farmers National Banc during the first quarter worth approximately $830,000. Wedge Capital Management L L P NC acquired a new position in Farmers National Banc during the third quarter worth about $795,000. Finally, Vanguard Group Inc. grew its stake in shares of Farmers National Banc by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,127,360 shares of the bank’s stock worth $30,655,000 after purchasing an additional 52,854 shares during the last quarter. Institutional investors and hedge funds own 38.72% of the company’s stock.

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.