Farmers National Banc (NASDAQ:FMNB) Share Price Breaks Above Two Hundred Day Moving Average - What's Next?

Key Points

• FMNB shares rose above their 200-day moving average of $14.70, reaching $15.17 before closing at $14.97.
• Analyst sentiment improved, with Weiss Ratings and Wall Street Zen upgrading the stock; however, the consensus remains “Hold” with a $16.00 price target.
• Farmers National Banc reported quarterly EPS of $0.41, beating estimates by $0.07, and increased its quarterly dividend to $0.18, equivalent to a 4.8% annual yield.

Farmers National Banc Corp. (NASDAQ:FMNB - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $14.70 and traded as high as $15.17. Farmers National Banc shares last traded at $14.97, with a volume of 293,692 shares traded.

Analysts Set New Price Targets

Several research firms have issued reports on FMNB. Weiss Ratings raised Farmers National Banc from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, July 28th. Wall Street Zen raised Farmers National Banc from a "hold" rating to a "buy" rating in a research note on Sunday, August 30th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Farmers National Banc has an average rating of "Hold" and an average price target of $16.00.

Farmers National Banc Price Performance

The company has a market capitalization of $886.97 million, a PE ratio of 10.18 and a beta of 0.78. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.79 and a quick ratio of 0.79. The stock's 50 day simple moving average is $15.65 and its 200-day simple moving average is $14.70.

Farmers National Banc (NASDAQ:FMNB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. The business had revenue of $70.44 million during the quarter, compared to analyst estimates of $70.10 million. Farmers National Banc had a net margin of 20.52% and a return on equity of 12.03%. As a group, equities analysts forecast that Farmers National Banc Corp. will post 1.68 earnings per share for the current fiscal year.

Farmers National Banc Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $0.72 annualized dividend and a yield of 4.8%. This is a boost from Farmers National Banc's previous quarterly dividend of $0.17. Farmers National Banc's dividend payout ratio is 48.98%.

Insider Buying and Selling

In other Farmers National Banc news, EVP Mark Wenick sold 5,000 shares of the business's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $15.97, for a total value of $79,850.00. Following the completion of the transaction, the executive vice president owned 32,020 shares in the company, valued at $511,359.40. The trade was a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.50% of the stock is owned by corporate insiders.

Institutional Trading of Farmers National Banc

Several hedge funds have recently modified their holdings of FMNB. Versant Capital Management Inc increased its holdings in Farmers National Banc by 105.6% during the 3rd quarter. Versant Capital Management Inc now owns 3,857 shares of the bank's stock worth $58,000 after purchasing an additional 1,981 shares during the period. State Street Corp raised its position in Farmers National Banc by 60.1% in the 2nd quarter. State Street Corp now owns 1,989,971 shares of the bank's stock valued at $29,054,000 after purchasing an additional 746,719 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in Farmers National Banc by 93.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 48,815 shares of the bank's stock valued at $713,000 after purchasing an additional 23,573 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of Farmers National Banc in the 2nd quarter valued at about $1,121,000. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Farmers National Banc in the 2nd quarter valued at about $25,000. 38.72% of the stock is currently owned by institutional investors and hedge funds.

Farmers National Banc Company Profile

Farmers National Banc Corp. is a bank holding company headquartered in Canfield, Ohio. Its principal subsidiary, Farmers National Bank, provides banking and financial services to individuals, families, businesses and nonprofit organizations through community banking offices and digital channels.

The bank offers deposit accounts, consumer and residential lending, commercial loans, mortgages, home equity financing, cash-management services and other traditional banking products. Through affiliated businesses, Farmers National Banc also provides trust and wealth-management services, investment-related solutions and insurance products.

Founded in 1887, the company has a long history of serving communities in northeastern Ohio and western Pennsylvania.

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