Farmers National Banc (NASDAQ:FMNB) Announces Earnings Results

Key Points

• Farmers National Banc reported quarterly earnings of $0.41 per share, beating analysts’ estimate of $0.37. Revenue also came in slightly above expectations at $70.44 million.
• The stock was little changed after the report, opening at $14.58 and trading near its 12-month range of $12.12 to $15.50. The company has a market cap of about $863.4 million and a dividend yield of 4.7%.
• Analyst sentiment remains mixed, with the stock carrying an overall Hold rating and a consensus price target of $16.00. Meanwhile, a director recently sold shares, while institutional investors have been adding to positions.

Farmers National Banc (NASDAQ:FMNB - Get Free Report) announced its quarterly earnings results on Wednesday. The bank reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.04, FiscalAI reports. The firm had revenue of $70.44 million for the quarter, compared to the consensus estimate of $70.10 million. Farmers National Banc had a return on equity of 11.99% and a net margin of 19.55%.

Farmers National Banc Trading Down 0.1%

Shares of NASDAQ:FMNB opened at $14.58 on Wednesday. Farmers National Banc has a 12-month low of $12.12 and a 12-month high of $15.50. The stock has a market cap of $863.43 million, a PE ratio of 10.06 and a beta of 0.77. The business has a 50 day moving average of $14.30 and a 200-day moving average of $13.70. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.19.

Farmers National Banc Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 12th were given a dividend of $0.17 per share. The ex-dividend date was Friday, June 12th. This represents a $0.68 annualized dividend and a yield of 4.7%. Farmers National Banc's dividend payout ratio (DPR) is 46.90%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wall Street Zen cut Farmers National Banc from a "buy" rating to a "hold" rating in a research report on Sunday, June 28th. Piper Sandler boosted their target price on Farmers National Banc from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Thursday, April 23rd. Zacks Research upgraded Farmers National Banc from a "strong sell" rating to a "hold" rating in a research note on Friday, April 3rd. Finally, Weiss Ratings raised Farmers National Banc from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Farmers National Banc presently has an average rating of "Hold" and a consensus price target of $16.00.

Insider Activity at Farmers National Banc

In other news, Director Michael C. Voinovich sold 23,309 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $14.21, for a total transaction of $331,220.89. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.50% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in shares of Farmers National Banc by 16.5% in the second quarter. Bank of America Corp DE now owns 44,784 shares of the bank's stock valued at $618,000 after acquiring an additional 6,335 shares during the period. Empowered Funds LLC increased its position in Farmers National Banc by 50.3% during the first quarter. Empowered Funds LLC now owns 38,058 shares of the bank's stock worth $497,000 after acquiring an additional 12,735 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Farmers National Banc in the 4th quarter worth about $439,000. &PARTNERS acquired a new stake in Farmers National Banc in the 4th quarter worth about $368,000. Finally, AQR Capital Management LLC boosted its holdings in Farmers National Banc by 94.6% in the 1st quarter. AQR Capital Management LLC now owns 27,870 shares of the bank's stock valued at $364,000 after purchasing an additional 13,548 shares during the period. Institutional investors own 38.72% of the company's stock.

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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