Farmers National Banc (NASDAQ:FMNB) Trading Up 5.5% - Here's What Happened

Key Points

• Farmers National Banc Corp. saw its stock price rise 5.5% to $14.20 during mid-day trading, with a total volume of approximately 73,975 shares exchanged.
• Raymond James Financial adjusted their price target for the bank's stock, setting it at $15.00, down from a previous target of $17.00, while maintaining an "outperform" rating.
• The bank reported a quarterly earnings per share of $0.37, matching analysts' expectations, with revenue of $47.04 million exceeding the consensus estimate.

Farmers National Banc Corp. (NASDAQ:FMNB - Get Free Report)'s stock price rose 5.5% during mid-day trading on Monday . The stock traded as high as $14.12 and last traded at $14.20. Approximately 73,975 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 91,494 shares. The stock had previously closed at $13.45.

Wall Street Analyst Weigh In

Separately, Raymond James Financial restated an "outperform" rating and issued a $15.00 price target (down from $17.00) on shares of Farmers National Banc in a research report on Monday, April 21st.

Farmers National Banc Trading Up 5.9%

The company has a market capitalization of $536.01 million, a P/E ratio of 10.63 and a beta of 0.81. The business has a fifty day moving average price of $13.57 and a 200 day moving average price of $13.45. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.20.

Farmers National Banc (NASDAQ:FMNB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The bank reported $0.37 earnings per share for the quarter, hitting analysts' consensus estimates of $0.37. Farmers National Banc had a return on equity of 12.11% and a net margin of 18.19%. The firm had revenue of $47.04 million for the quarter, compared to the consensus estimate of $46.55 million. On average, analysts expect that Farmers National Banc Corp. will post 1.45 earnings per share for the current fiscal year.

Farmers National Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend was Friday, June 13th. Farmers National Banc's payout ratio is presently 50.75%.

Institutional Trading of Farmers National Banc

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Farmers National Banc in the first quarter worth approximately $1,908,000. Voya Investment Management LLC grew its stake in Farmers National Banc by 86.2% in the 4th quarter. Voya Investment Management LLC now owns 265,792 shares of the bank's stock valued at $3,780,000 after buying an additional 123,030 shares in the last quarter. LPL Financial LLC grew its position in shares of Farmers National Banc by 454.0% during the 4th quarter. LPL Financial LLC now owns 146,615 shares of the bank's stock valued at $2,085,000 after purchasing an additional 120,150 shares in the last quarter. Farmers Trust Co. grew its position in shares of Farmers National Banc by 25.2% during the 1st quarter. Farmers Trust Co. now owns 551,750 shares of the bank's stock valued at $7,200,000 after purchasing an additional 111,008 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Farmers National Banc by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 2,038,771 shares of the bank's stock worth $28,991,000 after acquiring an additional 88,392 shares in the last quarter. 38.72% of the stock is currently owned by institutional investors and hedge funds.

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.

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