Piper Sandler Cuts Farmers National Banc (NASDAQ:FMNB) Price Target to $16.00

Farmers National Banc (NASDAQ:FMNB) had its price target trimmed by Piper Sandler from $17.00 to $16.00 in a report issued on Monday,Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

Separately, StockNews.com upgraded Farmers National Banc from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th.

Farmers National Banc Stock Performance

Shares of Farmers National Banc stock opened at $14.02 on Monday. The business has a 50-day simple moving average of $14.31 and a 200-day simple moving average of $14.65. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.74 and a current ratio of 0.74. Farmers National Banc has a one year low of $11.55 and a one year high of $16.32. The company has a market cap of $527.01 million, a PE ratio of 11.49 and a beta of 0.86.

Farmers National Banc (NASDAQ:FMNB) last posted its quarterly earnings results on Wednesday, January 29th. The bank reported $0.39 EPS for the quarter, topping the consensus estimate of $0.34 by $0.05. Farmers National Banc had a net margin of 17.05% and a return on equity of 11.71%. On average, equities research analysts forecast that Farmers National Banc will post 1.44 EPS for the current fiscal year.

Farmers National Banc Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend was Friday, December 13th. Farmers National Banc’s dividend payout ratio (DPR) is 55.74%.

Insider Buying and Selling

In other Farmers National Banc news, Director Ralph D. Macali sold 14,300 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $14.00, for a total value of $200,200.00. Following the completion of the sale, the director now owns 48,983 shares in the company, valued at approximately $685,762. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.00% of the stock is owned by company insiders.

Institutional Trading of Farmers National Banc

Several institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp increased its stake in Farmers National Banc by 3.5% in the third quarter. State Street Corp now owns 849,499 shares of the bank’s stock valued at $12,844,000 after purchasing an additional 28,499 shares during the period. Geode Capital Management LLC increased its position in Farmers National Banc by 5.5% in the 3rd quarter. Geode Capital Management LLC now owns 846,454 shares of the bank’s stock valued at $12,802,000 after acquiring an additional 44,349 shares during the period. Farmers Trust Co. increased its position in Farmers National Banc by 5.8% in the 4th quarter. Farmers Trust Co. now owns 440,742 shares of the bank’s stock valued at $6,267,000 after acquiring an additional 24,222 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Farmers National Banc by 59.2% in the 4th quarter. Bank of New York Mellon Corp now owns 315,501 shares of the bank’s stock valued at $4,486,000 after purchasing an additional 117,384 shares during the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. increased its holdings in shares of Farmers National Banc by 2.1% in the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 142,661 shares of the bank’s stock valued at $2,157,000 after purchasing an additional 3,000 shares during the period. 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.