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

Farmers National Banc (NASDAQ:FMNB) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

Separately, Piper Sandler restated a “neutral” rating and set a $17.00 price target on shares of Farmers National Banc in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.67.

Farmers National Banc Stock Down 2.7 %

FMNB stock opened at $15.47 on Wednesday. The firm has a market cap of $581.49 million, a PE ratio of 12.63 and a beta of 0.86. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.74 and a current ratio of 0.74. The firm’s fifty day moving average is $15.01 and its 200 day moving average is $14.24. Farmers National Banc has a one year low of $11.55 and a one year high of $16.32.

Farmers National Banc (NASDAQ:FMNB) last released 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 firm had revenue of $70.26 million for the quarter, compared to analyst estimates of $42.90 million. Farmers National Banc had a net margin of 17.26% and a return on equity of 11.92%. On average, research analysts forecast that Farmers National Banc will post 1.23 EPS for the current year.

Hedge Funds Weigh In On Farmers National Banc

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD purchased a new position in shares of Farmers National Banc in the first quarter worth about $140,000. Busey Bank purchased a new position in shares of Farmers National Banc in the second quarter worth about $224,000. Bank of New York Mellon Corp lifted its stake in shares of Farmers National Banc by 5.7% in the second quarter. Bank of New York Mellon Corp now owns 226,896 shares of the bank’s stock worth $2,834,000 after buying an additional 12,160 shares in 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 worth $3,757,000 after buying an additional 8,525 shares in the last quarter. Finally, HBK Sorce Advisory LLC lifted its stake in shares of Farmers National Banc by 4.8% in 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 hedge funds and other institutional investors.

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.