Farmers National Banc Corp. (NASDAQ:FMNB) Declares Quarterly Dividend of $0.17

Farmers National Banc Corp. (NASDAQ:FMNB - Get Free Report) declared a quarterly dividend on Tuesday, May 27th, RTT News reports. Stockholders of record on Friday, June 13th will be paid a dividend of 0.17 per share by the bank on Monday, June 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date is Friday, June 13th.

Farmers National Banc has raised its dividend payment by an average of 13.1% annually over the last three years. Farmers National Banc has a payout ratio of 43.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Farmers National Banc to earn $1.55 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 43.9%.

Farmers National Banc Stock Performance

FMNB traded up $0.20 during trading on Thursday, hitting $13.39. The stock had a trading volume of 57,885 shares, compared to its average volume of 89,962. The firm has a market cap of $503.66 million, a PE ratio of 10.98 and a beta of 0.80. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.20. Farmers National Banc has a 12 month low of $11.55 and a 12 month high of $16.32. The company has a 50 day simple moving average of $12.98 and a 200-day simple moving average of $13.84.

Farmers National Banc (NASDAQ:FMNB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The bank reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.05. Farmers National Banc had a return on equity of 11.71% and a net margin of 17.05%. The company had revenue of $44.68 million for the quarter, compared to the consensus estimate of $45.10 million. Analysts expect that Farmers National Banc will post 1.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FMNB. Piper Sandler dropped their price target on Farmers National Banc from $17.00 to $16.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. Raymond James restated an "outperform" rating and issued a $15.00 price objective (down previously from $17.00) on shares of Farmers National Banc in a research note on Monday, April 21st.

Insider Activity at Farmers National Banc

In other news, Director Gina A. Richardson bought 2,334 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $13.75 per share, for a total transaction of $32,092.50. Following the transaction, the director now directly owns 9,896 shares of the company's stock, valued at $136,070. This trade represents a 30.86% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Farmers National Banc

A number of large investors have recently modified their holdings of FMNB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Farmers National Banc by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,652 shares of the bank's stock worth $283,000 after purchasing an additional 936 shares during the last quarter. Empowered Funds LLC grew its position in shares of Farmers National Banc by 50.3% during the 1st quarter. Empowered Funds LLC now owns 38,058 shares of the bank's stock worth $497,000 after buying an additional 12,735 shares during the period. AQR Capital Management LLC grew its position in shares of Farmers National Banc by 94.6% during the 1st quarter. AQR Capital Management LLC now owns 27,870 shares of the bank's stock worth $364,000 after buying an additional 13,548 shares during the period. Finally, Jane Street Group LLC bought a new stake in shares of Farmers National Banc during the first quarter worth approximately $830,000. 38.72% of the stock is currently owned by institutional investors and hedge funds.

Farmers National Banc Company Profile

Farmers National Banc Corp. operates as a bank holding company for The Farmers National Bank of Canfield engages in the banking, trust, retirement consulting, insurance, and financial management businesses. It offers commercial and retail banking services, including checking, savings, and time deposit accounts; commercial, mortgage and installment, and home equity loans; home equity lines of credit, night depository, safe deposit box, money order, bank check, automated teller machine, Internet banking, travel card, E bond transaction, brokerage, and other services.