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

Farmers National Banc (NASDAQ:FMNB) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

A number of other research firms have also recently commented on FMNB. Raymond James increased their price target on shares of 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 issued a $15.00 target price (up previously from $14.00) on shares of Farmers National Banc in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $15.67.

Farmers National Banc Stock Down 1.7 %

Shares of Farmers National Banc stock traded down $0.24 during midday trading on Thursday, hitting $14.26. The company had a trading volume of 46,436 shares, compared to its average volume of 95,479. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.73 and a current ratio of 0.73. The company has a 50 day moving average of $14.83 and a 200 day moving average of $13.37. Farmers National Banc has a 52-week low of $10.38 and a 52-week high of $16.32. The stock has a market capitalization of $535.46 million, a P/E ratio of 9.83 and a beta of 0.82.

Farmers National Banc (NASDAQ:FMNB) last announced its quarterly earnings results on Wednesday, July 24th. The bank reported $0.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.33. Farmers National Banc had a net margin of 19.50% and a return on equity of 14.55%. The company had revenue of $66.45 million for the quarter, compared to analysts’ expectations of $42.15 million. On average, equities analysts predict that Farmers National Banc will post 1.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Timothy F. Shaffer sold 1,799 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $15.00, for a total transaction of $26,985.00. Following the transaction, the executive vice president now directly owns 35,282 shares of the company’s stock, valued at approximately $529,230. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Mark J. Wenick sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $15.88, for a total value of $31,760.00. Following the transaction, the executive vice president now owns 27,116 shares of the company’s stock, valued at $430,602.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Timothy F. Shaffer sold 1,799 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $15.00, for a total transaction of $26,985.00. Following the sale, the executive vice president now owns 35,282 shares of the company’s stock, valued at $529,230. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD purchased a new stake in shares of Farmers National Banc in the 1st quarter worth $140,000. Inspire Investing LLC increased its position in Farmers National Banc by 6.0% in the second quarter. Inspire Investing LLC now owns 28,564 shares of the bank’s stock worth $357,000 after buying an additional 1,625 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Farmers National Banc in the first quarter worth about $73,000. PEAK6 Investments LLC bought a new position in shares of Farmers National Banc in the first quarter worth about $248,000. Finally, Bank of New York Mellon Corp increased its holdings in Farmers National Banc by 5.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 226,896 shares of the bank’s stock worth $2,834,000 after acquiring an additional 12,160 shares in the last quarter. 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.