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

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 5.11%. The ex-dividend date of this dividend is Friday, June 13th.

Farmers National Banc has raised its dividend by an average of 13.1% per year over the last three years. Farmers National Banc has a payout ratio of 43.0% indicating that its dividend is sufficiently covered by earnings. 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

NASDAQ:FMNB traded down $0.07 on Friday, hitting $13.32. The company's stock had a trading volume of 112,476 shares, compared to its average volume of 89,446. Farmers National Banc has a one year low of $11.55 and a one year high of $16.32. The firm has a market capitalization of $501.03 million, a P/E ratio of 10.92 and a beta of 0.80. The stock has a fifty day moving average of $12.99 and a two-hundred day moving average of $13.81. 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 (NASDAQ:FMNB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The bank reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $44.68 million for the quarter, compared to analysts' expectations of $45.10 million. Research analysts predict that Farmers National Banc will post 1.45 earnings per share for the current year.

Insider Buying and Selling at Farmers National Banc

In other Farmers National Banc news, Director Gina A. Richardson acquired 2,334 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was purchased at an average price of $13.75 per share, with a total value of $32,092.50. Following the acquisition, the director now directly owns 9,896 shares of the company's stock, valued at approximately $136,070. This trade represents a 30.86% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.90% of the company's stock.

Institutional Investors Weigh In On Farmers National Banc

A number of hedge funds and other institutional investors have recently made changes to their positions in FMNB. Jane Street Group LLC acquired a new stake in Farmers National Banc during the first quarter worth approximately $830,000. Empowered Funds LLC lifted 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 valued at $497,000 after acquiring an additional 12,735 shares during the period. AQR Capital Management LLC grew its holdings 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 purchasing an additional 13,548 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Farmers National Banc by 4.5% in the first 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 period. 38.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FMNB. Raymond James restated an "outperform" rating and set a $15.00 target price (down previously from $17.00) on shares of Farmers National Banc in a research note on Monday, April 21st. Piper Sandler cut their price objective on shares of Farmers National Banc from $17.00 to $16.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd.

About Farmers National Banc

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.