Farmers National Banc (NASDAQ:FMNB) Sets New 12-Month High – Time to Buy?

Shares of Farmers National Banc Corp. (NASDAQ:FMNB) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $16.16 and last traded at $16.11, with a volume of 24768 shares traded. The stock had previously closed at $15.86.

Analyst Upgrades and Downgrades

FMNB has been the subject of several recent analyst reports. Weiss Ratings raised Farmers National Banc from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Wall Street Zen cut shares of Farmers National Banc from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Piper Sandler upped their price objective on shares of Farmers National Banc from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $16.00.

Farmers National Banc Price Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market cap of $941.89 million, a price-to-earnings ratio of 10.84 and a beta of 0.76. The company’s 50 day moving average price is $14.56 and its 200-day moving average price is $13.83.

Farmers National Banc (NASDAQ:FMNB) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. The company had revenue of $70.44 million for the quarter, compared to analysts’ expectations of $70.10 million. Farmers National Banc had a return on equity of 13.14% and a net margin of 20.52%. On average, equities research analysts forecast that Farmers National Banc Corp. will post 1.68 earnings per share for the current fiscal year.

Farmers National Banc Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 12th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, June 12th. Farmers National Banc’s dividend payout ratio is currently 46.26%.

Insider Transactions at Farmers National Banc

In other Farmers National Banc news, Director Michael C. Voinovich sold 23,309 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $14.21, for a total transaction of $331,220.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Farmers National Banc by 2.5% during the third quarter. Vanguard Group Inc. now owns 2,127,360 shares of the bank’s stock valued at $30,655,000 after acquiring an additional 52,854 shares during the period. Dimensional Fund Advisors LP boosted its stake in Farmers National Banc by 24.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,539,834 shares of the bank’s stock worth $20,264,000 after purchasing an additional 302,397 shares during the period. The Manufacturers Life Insurance Company grew its position in Farmers National Banc by 17.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 470,132 shares of the bank’s stock worth $6,187,000 after purchasing an additional 68,445 shares in the last quarter. Beese Fulmer Investment Management Inc. grew its position in Farmers National Banc by 11.8% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 374,090 shares of the bank’s stock worth $4,983,000 after purchasing an additional 39,539 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Farmers National Banc by 21.9% during the 1st quarter. Bank of New York Mellon Corp now owns 337,929 shares of the bank’s stock worth $4,447,000 after purchasing an additional 60,820 shares in the last quarter. 38.72% of the stock is owned by hedge funds and other institutional investors.

Farmers National Banc Company Profile

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.