Farmers National Banc’s (FMNB) “Neutral” Rating Reiterated at Piper Sandler

Piper Sandler reissued their neutral rating on shares of Farmers National Banc (NASDAQ:FMNB) in a research note issued to investors on Thursday, Marketbeat reports. The firm currently has a $17.00 target price on the bank’s stock.

A number of other research analysts also recently issued reports on the company. Raymond James boosted their price target on Farmers National Banc from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $15.00 price target (up from $14.00) on shares of Farmers National Banc in a report on Thursday, July 25th. Finally, StockNews.com raised shares of Farmers National Banc from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.67.

Farmers National Banc Stock Up 2.2 %

FMNB stock opened at $15.78 on Thursday. The company has a market capitalization of $593.17 million, a P/E ratio of 12.83 and a beta of 0.83. Farmers National Banc has a 12 month low of $11.55 and a 12 month high of $16.32. The firm’s fifty day simple moving average is $14.82 and its 200-day simple moving average is $13.95. 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 posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.12). The business had revenue of $70.26 million during the quarter, compared to analysts’ expectations of $42.90 million. Farmers National Banc had a net margin of 17.26% and a return on equity of 11.92%. As a group, equities research analysts forecast that Farmers National Banc will post 1.24 earnings per share for the current year.

Farmers National Banc Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.31%. The ex-dividend date was Friday, September 13th. Farmers National Banc’s payout ratio is presently 55.28%.

Insider Buying and Selling at Farmers National Banc

In related news, EVP Timothy F. Shaffer sold 1,799 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $15.00, for a total transaction of $26,985.00. Following the completion of the transaction, the executive vice president now owns 35,282 shares in the company, valued at $529,230. This represents a 4.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Farmers National Banc

Several hedge funds and other institutional investors have recently made changes to their positions in FMNB. FMR LLC raised its stake in Farmers National Banc by 67.7% in the 3rd quarter. FMR LLC now owns 2,068 shares of the bank’s stock valued at $31,000 after purchasing an additional 835 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Farmers National Banc in the first quarter valued at about $73,000. BNP Paribas Financial Markets lifted its stake in shares of Farmers National Banc by 11.2% in the third quarter. BNP Paribas Financial Markets now owns 8,207 shares of the bank’s stock worth $124,000 after buying an additional 829 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in Farmers National Banc during the first quarter worth about $140,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in Farmers National Banc during the 3rd quarter valued at about $148,000. Hedge funds and other institutional investors own 38.72% of the company’s stock.

About Farmers National Banc

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.