Farmers National Banc (NASDAQ: FMNB) The price target was raised from USD 20.00 to USD 21.00 by stock researchers at Raymond James in a research report published on Thursday, reports Benzinga. The brokerage currently has an “Outperform” rating on the bank’s stock. Raymond James’ price target suggests a potential upside of 10.99% over the company’s current price.
Separately, in a research release on Wednesday, Zacks Investment Research downgraded Farmers National Banc from a “buy” rating to a “hold” rating.
Farmers National Banc shares opened at $ 18.92 on Thursday. Farmers National Banc has a 12-month low of $ 13.03 and a 12-month high of $ 19.32. The stock has a market cap of $ 535.85 million, a P / E of 9.37, and a beta of 0.95. The company has a quick ratio of 0.68, a current ratio of 0.68, and debt of 0.13. The company’s 50-day moving average is $ 18.26 and the company’s 200-day moving average is $ 16.62.
Farmers National Banc (NASDAQ: FMNB) last released its quarterly results on Tuesday, October 26th. The bank reported earnings per share of $ 0.56 for the quarter, beating analysts’ consensus estimate of $ 0.51 by $ 0.05. Farmers National Banc had a return on equity of 16.50% and a net margin of 37.40%. The company had revenue of $ 35.55 million for the quarter, compared to analyst expectations of $ 35.95 million. On average, sell-side analysts expect Farmers National Banc to post 2.14 EPS for the current year.
In related news, director Edward Muransky bought 5,000 shares in the company in a transaction that occurred on Friday, November 26th. The shares were purchased at an average price of $ 17.58 per share for a total value of $ 87,900.00. The transaction was announced in a legal filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Insiders purchased 21,435 shares in the company for $ 379,611 in the past three months. Insiders own 8.86% of the company’s stock.
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Several institutional investors and hedge funds recently changed their holdings on the FMNB. Manufacturers Life Insurance Company increased its stake in Farmers National Banc by 1,953.0% in the second quarter. Manufacturers Life Insurance Company now owns 341,960 shares in the bank, valued at $ 5,303,000, after purchasing an additional 325,303 shares during the reporting period. Kennedy Capital Management Inc. added a new position in Farmers National Banc shares for approximately $ 3,875,000 in the second quarter. Manufacturers Life Insurance Company added 32.5% to its holdings in Farmers National Banc in the third quarter. Manufacturers Life Insurance Company now owns 452,946 shares in the bank valued at $ 7,116,000 after purchasing an additional 110,986 shares last quarter. HighTower Advisors LLC purchased a new stake in Farmers National Banc for approximately $ 1,350,000 in the second quarter. Finally, Renaissance Technologies LLC increased its stake in Farmers National Banc by 13.8% in the third quarter. Renaissance Technologies LLC now owns 356,884 shares in the bank, valued at $ 5,607,000, after purchasing an additional 43,200 shares last quarter. Hedge funds and other institutional investors own 41.22% of the company’s stock.
Via Farmers National Banc
Farmers National Banc Corp. is a banking and financial holding company providing financial and banking services through its subsidiary The Farmers National Bank of Canfield. It operates through the Bank and Trust segments. The Bank segment comprises business and retail banking services, including checking accounts, savings accounts, fixed-term accounts, business, mortgage and installment loans.
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