Farmers National Banc (NASDAQ:FMNB) Share Price Breaks Below 50-Day Moving Average - Should You Sell?

Key Points

• Shares slipped below the 50-day moving average, trading at $15.46 versus the $15.47 average; the 200-day average was $14.48.
• Analyst sentiment is mostly neutral: the consensus rating is Hold, with an average price target of $17.00.
• Quarterly EPS of $0.47 beat the $0.39 estimate, while revenue of $65.87 million fell short of expectations. The company also increased its quarterly dividend to $0.18 per share, a 4.7% annualized yield.

Farmers National Banc Corp. (NASDAQ:FMNB - Get Free Report)'s share price crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $15.47 and traded as low as $15.39. Farmers National Banc shares last traded at $15.46, with a volume of 211,846 shares changing hands.

Analyst Upgrades and Downgrades

FMNB has been the topic of a number of recent research reports. Wall Street Zen downgraded Farmers National Banc from a "buy" rating to a "hold" rating in a report on Saturday, October 31st. Piper Sandler boosted their price target on Farmers National Banc from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Thursday, October 29th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Farmers National Banc in a research report on Monday, October 26th. Finally, Raymond James Financial lowered shares of Farmers National Banc from an "outperform" rating to a "market perform" rating in a research report on Monday, November 2nd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $17.00.

Farmers National Banc Stock Down 0.1%

The company's 50 day moving average price is $15.47 and its two-hundred day moving average price is $14.48. The firm has a market cap of $916.11 million, a PE ratio of 11.12 and a beta of 0.73. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13.

Farmers National Banc (NASDAQ:FMNB - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The bank reported $0.47 EPS for the quarter, topping the consensus estimate of $0.39 by $0.08. Farmers National Banc had a return on equity of 12.73% and a net margin of 19.60%. The firm had revenue of $65.87 million during the quarter, compared to analyst estimates of $70.75 million. On average, equities research analysts expect that Farmers National Banc Corp. will post 1.75 EPS for the current fiscal year.

Farmers National Banc Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th were issued a dividend of $0.18 per share. This is a boost from Farmers National Banc's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Friday, September 11th. Farmers National Banc's dividend payout ratio is presently 51.80%.

Institutional Trading of Farmers National Banc

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in shares of Farmers National Banc by 13.5% in the second quarter. BlackRock Inc. now owns 4,798,011 shares of the bank's stock worth $70,051,000 after buying an additional 569,057 shares during the period. State Street Corp grew its stake in shares of Farmers National Banc by 60.1% during the 2nd quarter. State Street Corp now owns 1,989,971 shares of the bank's stock valued at $29,054,000 after acquiring an additional 746,719 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Farmers National Banc by 24.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,539,834 shares of the bank's stock valued at $20,264,000 after acquiring an additional 302,397 shares during the period. The Manufacturers Life Insurance Company raised its stake in Farmers National Banc by 17.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 470,132 shares of the bank's stock worth $6,187,000 after acquiring an additional 68,445 shares during the period. Finally, Citadel Advisors LLC raised its position in shares of Farmers National Banc by 39.5% during the 2nd quarter. Citadel Advisors LLC now owns 423,186 shares of the bank's stock valued at $6,179,000 after purchasing an additional 119,805 shares during the period. Hedge funds and other institutional investors own 38.72% of the company's stock.

About Farmers National Banc

Farmers National Banc Corp. is a bank holding company headquartered in Canfield, Ohio. Its principal subsidiary, Farmers National Bank, provides banking services to individuals, businesses and organizations. The company offers deposit accounts, commercial and consumer lending, mortgage services and digital banking. Through affiliated businesses, it also provides trust and wealth management services, including fiduciary and investment services, as well as insurance products. Founded in 1887, Farmers National Banc serves communities in Ohio and Pennsylvania.

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