Farmers National Banc Corp. (NASDAQ:FMNB - Get Rating) declared a quarterly dividend on Tuesday, November 22nd, Zacks reports. Investors of record on Friday, December 9th will be paid a dividend of 0.17 per share by the bank on Friday, December 30th. This represents a $0.68 annualized dividend and a yield of 4.57%. The ex-dividend date is Thursday, December 8th. This is a boost from Farmers National Banc's previous quarterly dividend of $0.16.
Farmers National Banc has increased its dividend payment by an average of 16.1% annually over the last three years and has raised its dividend every year for the last 7 years. Farmers National Banc has a dividend payout ratio of 32.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Farmers National Banc to earn $2.05 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 31.2%.
Farmers National Banc Trading Down 0.8 %
Shares of NASDAQ FMNB traded down $0.12 during midday trading on Thursday, reaching $14.88. 97,294 shares of the stock were exchanged, compared to its average volume of 105,442. The stock has a 50 day moving average price of $13.76 and a 200-day moving average price of $14.46. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $506.81 million, a P/E ratio of 9.42 and a beta of 0.81. Farmers National Banc has a 52-week low of $12.41 and a 52-week high of $20.00.
Wall Street Analyst Weigh In
FMNB has been the subject of several analyst reports. Piper Sandler downgraded Farmers National Banc from an "overweight" rating to a "neutral" rating and cut their price target for the company from $15.50 to $14.50 in a report on Wednesday, October 5th. Raymond James lowered shares of Farmers National Banc from an "outperform" rating to a "market perform" rating in a report on Thursday, October 6th. Finally, StockNews.com cut shares of Farmers National Banc from a "buy" rating to a "hold" rating in a research note on Tuesday.
Institutional Trading of Farmers National Banc
A number of institutional investors and hedge funds have recently bought and sold shares of FMNB. Raymond James & Associates acquired a new position in shares of Farmers National Banc during the first quarter worth about $352,000. Bank of New York Mellon Corp raised its position in shares of Farmers National Banc by 1.8% in the 1st quarter. Bank of New York Mellon Corp now owns 226,421 shares of the bank's stock valued at $3,863,000 after purchasing an additional 4,059 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Farmers National Banc by 28.1% in the 1st quarter. American Century Companies Inc. now owns 115,876 shares of the bank's stock valued at $1,977,000 after purchasing an additional 25,394 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Farmers National Banc by 53.7% in the first quarter. MetLife Investment Management LLC now owns 16,920 shares of the bank's stock worth $289,000 after purchasing an additional 5,913 shares during the period. Finally, BlackRock Inc. increased its stake in Farmers National Banc by 8.1% during the first quarter. BlackRock Inc. now owns 2,170,434 shares of the bank's stock valued at $37,027,000 after purchasing an additional 162,721 shares during the last quarter. Institutional investors and hedge funds own 40.28% of the company's stock.
Farmers National Banc Company Profile
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Farmers National Banc Corp., a financial holding company, operates in the banking, trust, retirement consulting, insurance, and financial management industries. 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, MasterCard and Visa credit cards, brokerage, and other services.
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