Farmers National Banc (NASDAQ:FMNB) Announces Quarterly Earnings Results

Farmers National Banc (NASDAQ:FMNB) posted its earnings results on Wednesday. The bank reported $0.47 EPS for the quarter, topping the consensus estimate of $0.39 by $0.08, FiscalAI reports. Farmers National Banc had a return on equity of 12.90% and a net margin of 19.60%. The business had revenue of $65.87 million during the quarter, compared to analysts’ expectations of $70.75 million.

Farmers National Banc Stock Down 0.2%

FMNB traded down $0.02 during trading on Friday, reaching $15.75. The stock had a trading volume of 34,038 shares, compared to its average volume of 398,225. Farmers National Banc has a one year low of $12.12 and a one year high of $16.46. The company has a market capitalization of $932.95 million, a price-to-earnings ratio of 11.34 and a beta of 0.78. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.12. The stock’s 50 day moving average is $15.48 and its two-hundred day moving average is $14.37.

Farmers National Banc Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Friday, September 11th. This is a positive change from Farmers National Banc’s previous quarterly dividend of $0.17. Farmers National Banc’s payout ratio is presently 48.98%.

Insiders Place Their Bets

In other Farmers National Banc news, EVP Mark Wenick sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $15.97, for a total transaction of $79,850.00. Following the completion of the transaction, the executive vice president owned 32,020 shares of the company’s stock, valued at approximately $511,359.40. This trade represents a 13.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on FMNB. Piper Sandler increased their target price on Farmers National Banc from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of Farmers National Banc in a research report on Monday. Finally, Wall Street Zen raised shares of Farmers National Banc from a “hold” rating to a “buy” rating in a research note on Sunday, August 30th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $17.00.

About Farmers National Banc

Farmers National Banc Corp. is a bank holding company headquartered in Canfield, Ohio. Through its principal subsidiary, Farmers National Bank, the company provides community banking services to individuals, families and businesses.

Farmers National Bank offers deposit accounts, consumer and commercial lending, residential mortgages, online and mobile banking, treasury management and other financial services. The company also provides wealth management and trust services through Farmers Trust Company, as well as insurance-related services through its affiliated operations.

Founded in 1887, Farmers National Banc Corp.