Farmers National Banc Corp. (NASDAQ:FMNB) Declares Dividend Increase - $0.18 Per Share

Key Points

• Farmers National Banc raised its quarterly dividend 5.9% to $0.18 per share from $0.17. Shareholders of record on September 11 will receive payment on September 30, representing an annualized yield of approximately 4.6%.
• The dividend appears well covered, with a current payout ratio of 43.0%; analysts expect next year’s earnings of $1.76 per share versus an annual dividend of $0.68.
• The bank exceeded quarterly earnings expectations, reporting $0.41 EPS versus the $0.34 consensus and $70.44 million in revenue. Analysts maintain an overall “Hold” rating, with an average price target of $16.00.

Farmers National Banc Corp. (NASDAQ:FMNB - Get Free Report) declared a quarterly dividend on Tuesday, August 25th. Stockholders of record on Friday, September 11th will be paid a dividend of 0.18 per share by the bank on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Friday, September 11th. This is a 5.9% increase from Farmers National Banc's previous quarterly dividend of $0.17.

Farmers National Banc has increased its dividend by an average of 0.1%annually over the last three years. Farmers National Banc has a payout ratio of 43.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Farmers National Banc to earn $1.76 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 38.6%.

Farmers National Banc Stock Performance

NASDAQ FMNB opened at $15.62 on Wednesday. The firm has a market cap of $925.45 million, a price-to-earnings ratio of 10.63 and a beta of 0.76. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $15.12 and a 200-day moving average price of $14.13. Farmers National Banc has a twelve month low of $12.12 and a twelve month high of $16.46.

Farmers National Banc (NASDAQ:FMNB - Get Free Report) last released its earnings results on Wednesday, July 22nd. The bank reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.07. Farmers National Banc had a return on equity of 12.03% and a net margin of 20.52%.The firm had revenue of $70.44 million during the quarter, compared to analysts' expectations of $70.10 million. As a group, equities research analysts predict that Farmers National Banc will post 1.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FMNB shares. Weiss Ratings raised shares of Farmers National Banc from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, July 28th. Wall Street Zen lowered shares of Farmers National Banc from a "buy" rating to a "hold" rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Farmers National Banc presently has an average rating of "Hold" and an average target price of $16.00.

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.

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