Farmers National Banc (NASDAQ:FMNB) Given “Neutral” Rating at Piper Sandler

Farmers National Banc (NASDAQ:FMNB)‘s stock had its “neutral” rating reissued by stock analysts at Piper Sandler in a research note issued to investors on Thursday,Benzinga reports. They presently have a $17.00 price target on the bank’s stock. Piper Sandler’s price target points to a potential upside of 12.21% from the stock’s current price.

FMNB has been the subject of several other research reports. Raymond James upped 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. StockNews.com raised Farmers National Banc from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $15.00 price objective (up from $14.00) on shares of Farmers National Banc in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Farmers National Banc presently has a consensus rating of “Hold” and an average target price of $16.67.

Farmers National Banc Price Performance

NASDAQ FMNB opened at $15.15 on Thursday. Farmers National Banc has a twelve month low of $11.55 and a twelve month high of $16.32. 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 stock has a market capitalization of $569.49 million, a PE ratio of 12.32 and a beta of 0.83. The stock has a 50-day simple moving average of $14.80 and a 200 day simple moving average of $13.90.

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 firm had revenue of $70.26 million during 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%. Research analysts anticipate that Farmers National Banc will post 1.24 EPS for the current year.

Insider Activity at Farmers National Banc

In other news, EVP Timothy F. Shaffer sold 1,799 shares of Farmers National Banc stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $15.00, for a total value of $26,985.00. Following the completion of the sale, the executive vice president now directly owns 35,282 shares of the company’s stock, valued at approximately $529,230. This trade represents a 4.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Farmers National Banc

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Farmers National Banc by 5.5% in the 3rd quarter. Geode Capital Management LLC now owns 846,454 shares of the bank’s stock worth $12,802,000 after purchasing an additional 44,349 shares during the last quarter. Barclays PLC boosted its position in shares of Farmers National Banc by 330.9% in the 3rd quarter. Barclays PLC now owns 55,930 shares of the bank’s stock worth $845,000 after purchasing an additional 42,951 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Farmers National Banc by 93.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 83,361 shares of the bank’s stock worth $1,260,000 after purchasing an additional 40,367 shares during the last quarter. State Street Corp boosted its position in shares of Farmers National Banc by 3.5% in the 3rd quarter. State Street Corp now owns 849,499 shares of the bank’s stock worth $12,844,000 after purchasing an additional 28,499 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Farmers National Banc in the 3rd quarter worth $311,000. 38.72% of the stock is owned by institutional investors and hedge funds.

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.