Key Points
- Director Gina Richardson purchased 1,430 FMNB shares at an average price of $15.35, investing $21,950.50 and increasing her holdings by 8.13% to 19,026 shares.
- Farmers National Banc reported quarterly EPS of $0.41, exceeding the $0.34 analyst estimate, while revenue of $70.44 million slightly surpassed expectations.
- The company raised its quarterly dividend to $0.18 per share, or $0.72 annually, representing a 4.7% yield; analysts maintain a consensus “Hold” rating with a $16 average price target.
Farmers National Banc Corp. (NASDAQ:FMNB - Get Free Report) Director Gina Richardson purchased 1,430 shares of the business's stock in a transaction that occurred on Monday, September 21st. The stock was acquired at an average price of $15.35 per share, for a total transaction of $21,950.50. Following the purchase, the director owned 19,026 shares of the company's stock, valued at approximately $292,049.10. This represents a 8.13% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Farmers National Banc Price Performance
Shares of NASDAQ FMNB opened at $15.32 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.12. Farmers National Banc Corp. has a fifty-two week low of $12.12 and a fifty-two week high of $16.46. The business has a 50 day moving average price of $15.64 and a two-hundred day moving average price of $14.47. The firm has a market cap of $907.71 million, a PE ratio of 10.42 and a beta of 0.76.
Farmers National Banc (NASDAQ:FMNB - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The bank reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.07. The company had revenue of $70.44 million for the quarter, compared to analyst estimates of $70.10 million. Farmers National Banc had a return on equity of 12.03% and a net margin of 20.52%. Sell-side analysts expect that Farmers National Banc Corp. will post 1.68 earnings per share for the current fiscal year.
Farmers National Banc Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.7%. This is a boost from Farmers National Banc's previous quarterly dividend of $0.17. The ex-dividend date is Friday, September 11th. Farmers National Banc's payout ratio is presently 48.98%.
Institutional Trading of Farmers National Banc
Several institutional investors have recently added to or reduced their stakes in FMNB. BlackRock Inc. lifted its position in shares of Farmers National Banc by 13.5% in the 2nd quarter. BlackRock Inc. now owns 4,798,011 shares of the bank's stock worth $70,051,000 after buying an additional 569,057 shares during the last quarter. State Street Corp grew its position in shares of Farmers National Banc by 60.1% during the 2nd quarter. State Street Corp now owns 1,989,971 shares of the bank's stock valued at $29,054,000 after buying an additional 746,719 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Farmers National Banc by 24.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,539,834 shares of the bank's stock worth $20,264,000 after acquiring an additional 302,397 shares during the period. The Manufacturers Life Insurance Company raised its stake in Farmers National Banc by 17.0% during the first quarter. The Manufacturers Life Insurance Company now owns 470,132 shares of the bank's stock worth $6,187,000 after acquiring an additional 68,445 shares during the period. Finally, Citadel Advisors LLC lifted its holdings in Farmers National Banc by 39.5% in the second quarter. Citadel Advisors LLC now owns 423,186 shares of the bank's stock worth $6,179,000 after acquiring an additional 119,805 shares during the last quarter. Institutional investors own 38.72% of the company's stock.
Analyst Ratings Changes
A number of research firms have commented on FMNB. Weiss Ratings upgraded shares of Farmers National Banc from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, July 28th. Wall Street Zen raised shares of Farmers National Banc from a "hold" rating to a "buy" rating in a research report on Sunday, August 30th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Farmers National Banc currently has a consensus rating of "Hold" and an average target price of $16.00.
Check Out Our Latest Stock Analysis on Farmers National Banc
Farmers National Banc Company Profile
(
Get Free Report)
Farmers National Banc Corp. (NASDAQ: FMNB) is a bank holding company headquartered in Canfield, Ohio. The company traces its roots to 1887 and operates primarily through Farmers National Bank, a community banking institution serving businesses, individuals and organizations in northeastern Ohio and western Pennsylvania.
Farmers National Bank provides deposit products, residential and commercial real estate lending, consumer loans, business financing and other traditional banking services.
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