Farmers National Banc (NASDAQ:FMNB) Sets New 12-Month High - Here's What Happened

Key Points

• Farmers National Banc shares reached a new 52-week high of $15.67, above the previous close of $15.35, with a market capitalization of approximately $937.8 million.
• Recent analyst actions were mixed but generally improved, including upgrades to “buy” and a higher Piper Sandler price target of $16. The overall consensus remains “Hold”, with an average target price of $16.
• The bank reported quarterly earnings of $0.41 per share, beating estimates of $0.34, and generated $70.44 million in revenue. It also pays a quarterly dividend of $0.17, equivalent to a 4.3% annualized yield.

Farmers National Banc Corp. (NASDAQ:FMNB - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $15.67 and last traded at $15.6680, with a volume of 67692 shares traded. The stock had previously closed at $15.35.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wall Street Zen raised Farmers National Banc from a "hold" rating to a "buy" rating in a report on Saturday. Weiss Ratings upgraded shares of Farmers National Banc from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, May 8th. Piper Sandler boosted their target price 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. Finally, Zacks Research upgraded shares of Farmers National Banc from a "strong sell" rating to a "hold" rating in a research report on Friday, April 3rd. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $16.00.

Farmers National Banc Stock Performance

The business has a 50 day moving average of $14.41 and a 200 day moving average of $13.75. The company has a market capitalization of $937.75 million, a P/E ratio of 10.76 and a beta of 0.77. 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 (NASDAQ:FMNB - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.07. Farmers National Banc had a return on equity of 13.14% and a net margin of 20.52%.The business had revenue of $70.44 million during the quarter, compared to analysts' expectations of $70.10 million. On average, sell-side analysts predict that Farmers National Banc Corp. will post 1.64 earnings per share for the current year.

Farmers National Banc Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 12th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.3%. Farmers National Banc's dividend payout ratio (DPR) is 46.26%.

Insiders Place Their Bets

In related news, Director Michael C. Voinovich sold 23,309 shares of the business's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $14.21, for a total value of $331,220.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On Farmers National Banc

Institutional investors have recently bought and sold shares of the business. Sax Wealth Advisors LLC bought a new stake in shares of Farmers National Banc in the 2nd quarter worth about $184,000. Parallel Advisors LLC raised its position in shares of Farmers National Banc by 86.1% during the 1st quarter. Parallel Advisors LLC now owns 2,784 shares of the bank's stock valued at $37,000 after buying an additional 1,288 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Farmers National Banc by 99.1% in the 1st quarter. Bank of America Corp DE now owns 105,394 shares of the bank's stock valued at $1,387,000 after acquiring an additional 52,450 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Farmers National Banc by 153.8% in the 1st quarter. Janus Henderson Group PLC now owns 34,987 shares of the bank's stock valued at $461,000 after acquiring an additional 21,200 shares during the last quarter. Finally, Amundi purchased a new position in Farmers National Banc in the first quarter worth about $382,000. Institutional investors own 38.72% of the company's stock.

About Farmers National Banc

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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