National Farmers Bank (NASDAQ: FMNB) was downgraded by Zacks Investment Research from a “buy” rating to a “keep” rating in a research note released Wednesday, Zacks.com reports.
According to Zacks, “Farmers National Banc Corp. is a banking holding company with a single subsidiary, The Farmers National Bank of Canfield. They operate in one industry, national banking. The Bank is a full-service national bank engaged in commercial activities and The commercial banking services of the Bank include checking accounts, savings accounts, term accounts, commercial, mortgage and installment loans, loans on Home Equity, Home Equity Lines of Credit, Overnight Deposits, Safes, Money Orders, Bank Checks, ATMs and Travelers Checks.
Separately, Raymond James raised his price target on Farmers National Banc from $ 18.00 to $ 20.00 and gave the company an “outperformance” rating in a report released on Monday, November 1.
NASDAQ: FMNB opened at $ 19.03 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.68, and a debt ratio of 0.13. The company’s 50-day simple moving average is $ 18.22 and its two-hundred-day simple moving average is $ 16.60. The stock has a market cap of $ 538.97 million, a PE ratio of 9.42 and a beta of 0.95. Farmers National Banc has a 52 week low of $ 13.03 and a 52 week high of $ 19.32.
Farmers National Banc (NASDAQ: FMNB) last released its quarterly results on Tuesday, October 26. The bank reported EPS of $ 0.56 for the quarter, beating the Zacks’ consensus estimate of $ 0.51 by $ 0.05. The company posted revenue of $ 35.55 million for the quarter, compared to analysts’ expectations of $ 35.95 million. Farmers National Banc reported a return on equity of 16.50% and a net margin of 37.40%. Sell-side analysts predict that Farmers National Banc will post earnings per share of 2.14 for the current fiscal year.
In addition, director Edward Muransky acquired 15,000 shares of the company in a transaction dated Monday, December 20. The stock was purchased at an average price of $ 17.72 per share, for a total transaction of $ 265,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, accessible through this link. In the past 90 days, insiders have purchased 21,435 shares of the company valued at $ 379,611. Company insiders own 8.86% of the company’s shares.
Several institutional investors have recently changed their holdings in FMNB. BlackRock Inc. increased its position in Farmers National Banc by 1.2% in the second quarter. BlackRock Inc. now owns 1,808,679 shares of the bank valued at $ 28,052,000 after acquiring an additional 21,570 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Farmers National Banc by 0.9% in the third quarter. Dimensional Fund Advisors LP now owns 903,441 shares of the bank valued at $ 14,193,000 after acquiring an additional 7,904 shares in the last quarter. LSV Asset Management increased its position in Farmers National Banc by 1.6% in the third quarter. LSV Asset Management now owns 516,762 shares of the bank valued at $ 8,118,000 after acquiring an additional 8,100 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Farmers National Banc by 32.5% in the third quarter. The Manufacturers Life Insurance Company now owns 452,946 shares of the bank valued at $ 7,116,000 after acquiring an additional 110,986 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC increased its position in Farmers National Banc by 0.5% in the second quarter. Pacific Ridge Capital Partners LLC now owns 369,969 shares of the bank valued at $ 5,738,000 after acquiring an additional 1,833 shares in the last quarter. Hedge funds and other institutional investors hold 41.22% of the company’s shares.
Company Profile of the National Farmers Bank
Farmers National Banc Corp. is a bank and financial holding company that provides financial and banking services through its subsidiary, The Farmers National Bank of Canfield. It operates through the Banking and Trust segments. The Banking segment comprises commercial and retail banking services, including chequing accounts, savings accounts, term deposit accounts, commercial, mortgage and installment loans.
See also: Municipal bonds
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