Raymond James Reiterates "Outperform" Rating for Farmers National Banc (NASDAQ:FMNB)

Farmers National Banc (NASDAQ:FMNB - Get Free Report)'s stock had its "outperform" rating reissued by analysts at Raymond James in a report issued on Monday,Benzinga reports. They presently have a $15.00 target price on the bank's stock, down from their previous target price of $17.00. Raymond James' price objective indicates a potential upside of 14.85% from the company's previous close.

Separately, Piper Sandler decreased their price target on shares of Farmers National Banc from $17.00 to $16.00 and set a "neutral" rating for the company in a report on Monday, February 3rd.

Farmers National Banc Stock Down 1.7 %

Shares of Farmers National Banc stock traded down $0.23 during trading on Monday, reaching $13.06. The company's stock had a trading volume of 63,612 shares, compared to its average volume of 90,946. The company has a 50-day simple moving average of $13.16 and a two-hundred day simple moving average of $14.04. Farmers National Banc has a 1-year low of $11.55 and a 1-year high of $16.32. The company has a market cap of $491.25 million, a price-to-earnings ratio of 10.70 and a beta of 0.77. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.20.

Farmers National Banc (NASDAQ:FMNB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The bank reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.05. The business had revenue of $44.68 million for the quarter, compared to analyst estimates of $45.10 million. Farmers National Banc had a return on equity of 11.71% and a net margin of 17.05%. As a group, equities analysts forecast that Farmers National Banc will post 1.45 earnings per share for the current year.

Insider Activity

In related news, Director Ralph D. Macali sold 14,300 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $14.00, for a total transaction of $200,200.00. Following the completion of the transaction, the director now directly owns 48,983 shares in the company, valued at $685,762. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gina A. Richardson purchased 2,334 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $13.75 per share, for a total transaction of $32,092.50. Following the completion of the transaction, the director now directly owns 9,896 shares in the company, valued at $136,070. This trade represents a 30.86 % increase in their position. The disclosure for this purchase can be found here. Insiders own 3.90% of the company's stock.

Institutional Investors Weigh In On Farmers National Banc

Several hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its stake in shares of Farmers National Banc by 67.7% in the 3rd quarter. FMR LLC now owns 2,068 shares of the bank's stock valued at $31,000 after purchasing an additional 835 shares during the period. R Squared Ltd purchased a new position in Farmers National Banc in the fourth quarter valued at $31,000. GAMMA Investing LLC boosted its stake in shares of Farmers National Banc by 1,852.1% during the 1st quarter. GAMMA Investing LLC now owns 2,362 shares of the bank's stock worth $31,000 after acquiring an additional 2,241 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Farmers National Banc during the 4th quarter valued at about $36,000. Finally, Huntington National Bank increased its stake in shares of Farmers National Banc by 41.2% in the 4th quarter. Huntington National Bank now owns 3,426 shares of the bank's stock valued at $49,000 after purchasing an additional 1,000 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.