Zacks: Analysts Anticipate Farmers National Banc Corp (NASDAQ:FMNB) Will Announce Quarterly Sales of $28.29 Million

Wall Street brokerages predict that Farmers National Banc Corp (NASDAQ:FMNB) will post $28.29 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Farmers National Banc’s earnings, with the lowest sales estimate coming in at $28.08 million and the highest estimate coming in at $28.50 million. Farmers National Banc posted sales of $26.40 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.2%. The business is expected to announce its next quarterly earnings report on Wednesday, October 23rd.

According to Zacks, analysts expect that Farmers National Banc will report full year sales of $111.28 million for the current year, with estimates ranging from $110.35 million to $112.20 million. For the next fiscal year, analysts expect that the company will report sales of $117.84 million, with estimates ranging from $117.50 million to $118.18 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Farmers National Banc.

Farmers National Banc (NASDAQ:FMNB) last announced its quarterly earnings data on Friday, July 26th. The bank reported $0.31 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.31. The company had revenue of $27.49 million during the quarter, compared to analysts’ expectations of $27.60 million. Farmers National Banc had a return on equity of 12.54% and a net margin of 26.98%.

Several equities research analysts recently issued reports on the stock. ValuEngine downgraded shares of Farmers National Banc from a “hold” rating to a “sell” rating in a research note on Wednesday, July 17th. Boenning Scattergood reiterated a “buy” rating and issued a $15.50 target price on shares of Farmers National Banc in a research note on Wednesday, July 31st. Zacks Investment Research upgraded shares of Farmers National Banc from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Raymond James raised their target price on shares of Farmers National Banc from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Finally, BidaskClub downgraded shares of Farmers National Banc from a “hold” rating to a “sell” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. Farmers National Banc presently has a consensus rating of “Hold” and an average target price of $15.50.

Shares of NASDAQ FMNB traded up $0.34 during mid-day trading on Monday, hitting $14.10. The company had a trading volume of 27,700 shares, compared to its average volume of 35,858. Farmers National Banc has a one year low of $11.56 and a one year high of $16.15. The company has a market capitalization of $377.93 million, a PE ratio of 12.26 and a beta of 0.83. The firm has a 50-day simple moving average of $14.42 and a two-hundred day simple moving average of $14.23. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.02.

A number of large investors have recently modified their holdings of FMNB. HBK Sorce Advisory LLC lifted its holdings in Farmers National Banc by 141.3% in the second quarter. HBK Sorce Advisory LLC now owns 82,641 shares of the bank’s stock valued at $727,000 after buying an additional 48,395 shares during the period. Zebra Capital Management LLC acquired a new position in Farmers National Banc in the second quarter valued at $189,000. BlackRock Inc. lifted its holdings in Farmers National Banc by 6.8% in the second quarter. BlackRock Inc. now owns 1,498,170 shares of the bank’s stock valued at $22,218,000 after buying an additional 95,138 shares during the period. Northern Trust Corp lifted its holdings in Farmers National Banc by 3.3% in the second quarter. Northern Trust Corp now owns 283,098 shares of the bank’s stock valued at $4,198,000 after buying an additional 8,960 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Farmers National Banc by 4.8% in the second quarter. Renaissance Technologies LLC now owns 261,600 shares of the bank’s stock valued at $3,880,000 after buying an additional 12,100 shares during the period. Institutional investors and hedge funds own 37.09% of the company’s stock.

Farmers National Banc Company Profile

Farmers National Banc Corp., through its subsidiaries, operates in the banking, trust, retirement consulting, insurance, and financial management industries. The company 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, MasterCard and Visa credit cards, brokerage, and other services.

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