Raymond James increases Farmers National Banc (NASDAQ: FMNB) price target to $ 21.00

National Farmers Bank (NASDAQ: FMNB) saw its price target raised by stock researchers Raymond James from $ 20.00 to $ 21.00 in a research report released Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the bank’s shares. Raymond James’ price target would suggest a potential rise of 10.99% from the company’s current price.

Separately, Zacks investment research lowered the Farmers National Bench from a “buy” note to a “keep” note in a research note Wednesday.

Actions of National Bank Farmers’ Stock open for $ 18.92 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 ratio 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 a debt ratio of 0.13. The company’s 50-day moving average is $ 18.26 and its 200-day moving average is $ 16.62.

Farmers National Banc (NASDAQ: FMNB) last released its quarterly results on Tuesday, October 26. The bank reported earnings per share of $ 0.56 for the quarter, beating analyst consensus estimates of $ 0.51 by $ 0.05. Farmers National Banc reported a return on equity of 16.50% and a net margin of 37.40%. The company posted revenue of $ 35.55 million for the quarter, compared to analysts’ expectations of $ 35.95 million. On average, sell-side analysts expect Farmers National Banc to post EPS of 2.14 for the current year.

In related news, the director Edouard Muransky bought 5,000 shares of the company in a trade that took place on Friday, November 26. The shares were purchased at an average price of $ 17.58 per share, for a total value of $ 87,900.00. The transaction was disclosed in a legal file with the Securities & Exchange Commission, accessible via this hyperlink. Insiders acquired 21,435 shares of the company worth $ 379,611 in the past three months. Insiders own 8.86% of the company’s shares.

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Several institutional investors and hedge funds have recently changed their holdings to FMNB. The Manufacturers Life Insurance Company increased its stake in Farmers National Banc shares by 1,953.0% in the second quarter. The Manufacturers Life Insurance Company now owns 341,960 shares of the bank valued at $ 5,303,000 after purchasing an additional 325,303 shares during the period. Kennedy Capital Management Inc. purchased a new position in Farmers National Banc shares in the second quarter valued at approximately $ 3,875,000. The Manufacturers Life Insurance Company increased its holdings of Farmers National Banc shares by 32.5% in the third quarter. The Manufacturers Life Insurance Company now owns 452,946 shares of the bank valued at $ 7,116,000 after purchasing an additional 110,986 shares in the last quarter. HighTower Advisors LLC purchased a new stake in the shares of Farmers National Banc in the second quarter for a value of approximately $ 1,350,000. Finally, Renaissance Technologies LLC increased its stake in the shares of Farmers National Banc by 13.8% in the 3rd quarter. Renaissance Technologies LLC now owns 356,884 shares of the bank valued at $ 5,607,000 after acquiring an additional 43,200 shares during the last quarter. Hedge funds and other institutional investors hold 41.22% of the company’s shares.

About the National Farmers Bank

Farmers National Banc Corp. is a bank and financial holding company that provides financial and banking services through its subsidiary, The Farmers National Bank of Canfield. It operates through the Banking and Trust segments. The Banking segment comprises commercial and retail banking services, including chequing accounts, savings accounts, term deposit accounts, commercial, mortgage and installment loans.

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