Farmers National Banc (NASDAQ:FMNB) Issues Earnings Results, Beats Expectations By $0.04 EPS

Farmers National Banc (NASDAQ:FMNB) issued its quarterly earnings results on Wednesday. The bank reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04, FiscalAI reports. Farmers National Banc had a return on equity of 11.99% and a net margin of 19.55%.The business had revenue of $70.44 million for the quarter, compared to the consensus estimate of $70.10 million.

Farmers National Banc Stock Down 0.1%

NASDAQ FMNB opened at $14.58 on Wednesday. The business has a fifty day moving average price of $14.30 and a two-hundred day moving average price of $13.70. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.79 and a quick ratio of 0.79. Farmers National Banc has a fifty-two week low of $12.12 and a fifty-two week high of $15.50. The stock has a market capitalization of $863.43 million, a PE ratio of 10.06 and a beta of 0.77.

Farmers National Banc Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 12th were paid a dividend of $0.17 per share. The ex-dividend date was Friday, June 12th. This represents a $0.68 annualized dividend and a yield of 4.7%. Farmers National Banc’s dividend payout ratio is presently 46.90%.

Insider Activity

In other news, Director Michael C. Voinovich sold 23,309 shares of Farmers National Banc stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $14.21, for a total value of $331,220.89. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.50% of the company’s stock.

Institutional Trading of Farmers National Banc

Several institutional investors and hedge funds have recently modified their holdings of FMNB. Russell Investments Group Ltd. grew its position in Farmers National Banc by 9,065.7% in the third quarter. Russell Investments Group Ltd. now owns 3,208 shares of the bank’s stock valued at $46,000 after acquiring an additional 3,173 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Farmers National Banc by 49.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,519 shares of the bank’s stock valued at $62,000 after purchasing an additional 1,487 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Farmers National Banc during the 2nd quarter valued at approximately $128,000. CANADA LIFE ASSURANCE Co grew its holdings in shares of Farmers National Banc by 12.4% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 9,814 shares of the bank’s stock valued at $131,000 after purchasing an additional 1,083 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in Farmers National Banc during the 2nd quarter worth approximately $139,000. 38.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Zacks Research upgraded Farmers National Banc from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Piper Sandler raised their price target on Farmers National Banc from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. Wall Street Zen downgraded Farmers National Banc from a “buy” rating to a “hold” rating in a research note on Sunday, June 28th. Finally, Weiss Ratings raised shares of Farmers National Banc from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Farmers National Banc presently has an average rating of “Hold” and a consensus target price of $16.00.

About Farmers National Banc

Farmers National Banc Corp. operates as the bank holding company for Farmers National Bank, a community-oriented financial institution headquartered in Ada, Ohio. The company provides a comprehensive suite of banking services through a network of branches serving rural and small-town markets across central Ohio. Its local decision-making model emphasizes personalized customer service and close ties to the communities it serves.

The company’s primary business activities include the origination of commercial loans, consumer installment loans, agricultural financing, and residential mortgages.