Piper Sandler Reaffirms “Neutral” Rating for Farmers National Banc (NASDAQ:FMNB)

Farmers National Banc (NASDAQ:FMNB)‘s stock had its “neutral” rating reaffirmed by investment analysts at Piper Sandler in a report released on Thursday, Marketbeat reports. They presently have a $17.00 price objective on the bank’s stock. Piper Sandler’s price target would indicate a potential upside of 7.73% from the stock’s previous close.

FMNB has been the subject of several other reports. StockNews.com upgraded Farmers National Banc from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Raymond James upped their target price on shares of Farmers National Banc from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $15.00 price target (up from $14.00) on shares of Farmers National Banc in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.67.

Farmers National Banc Stock Up 2.2 %

FMNB opened at $15.78 on Thursday. The stock has a market cap of $593.14 million, a price-to-earnings ratio of 12.83 and a beta of 0.83. 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 $14.82 and its 200 day moving average is $13.94. Farmers National Banc has a fifty-two week low of $11.55 and a fifty-two week high of $16.32.

Farmers National Banc (NASDAQ:FMNB) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.12). Farmers National Banc had a net margin of 17.26% and a return on equity of 11.92%. The business had revenue of $70.26 million during the quarter, compared to analysts’ expectations of $42.90 million. On average, sell-side analysts forecast that Farmers National Banc will post 1.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Timothy F. Shaffer sold 1,799 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $15.00, for a total value of $26,985.00. Following the completion of the transaction, the executive vice president now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Farmers National Banc

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its holdings in shares of Farmers National Banc by 11.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,207 shares of the bank’s stock worth $124,000 after purchasing an additional 829 shares during the period. FMR LLC boosted its stake in Farmers National Banc by 67.7% during the third quarter. FMR LLC now owns 2,068 shares of the bank’s stock worth $31,000 after buying an additional 835 shares during the period. Cubist Systematic Strategies LLC increased its position in Farmers National Banc by 8.1% during the second quarter. Cubist Systematic Strategies LLC now owns 13,245 shares of the bank’s stock valued at $165,000 after acquiring an additional 997 shares during the last quarter. Inspire Investing LLC raised its stake in shares of Farmers National Banc by 6.0% in the second quarter. Inspire Investing LLC now owns 28,564 shares of the bank’s stock valued at $357,000 after acquiring an additional 1,625 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Farmers National Banc by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 103,160 shares of the bank’s stock worth $1,560,000 after acquiring an additional 2,241 shares during the last quarter. 38.72% of the stock is currently owned by hedge funds and other institutional investors.

Farmers National Banc Company Profile

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.