Farmers National Banc (NASDAQ:FMNB) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Farmers National Banc shares crossed above their 200-day moving average, reaching $15.42 and last trading at $15.20, compared with the $14.80 average.
• Analysts maintain a generally cautious outlook: the stock has an average “Hold” rating and a consensus price target of $16.00, though some firms recently upgraded their views.
• The bank reported quarterly EPS of $0.41, beating estimates by $0.07, and raised its quarterly dividend to $0.18, or $0.72 annually, producing a 4.7% yield.

Farmers National Banc Corp. (NASDAQ:FMNB - Get Free Report) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $14.80 and traded as high as $15.42. Farmers National Banc shares last traded at $15.20, with a volume of 273,352 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FMNB. Wall Street Zen upgraded shares of Farmers National Banc from a "hold" rating to a "buy" rating in a report on Sunday, August 30th. Weiss Ratings raised shares of Farmers National Banc from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $16.00.

Farmers National Banc Stock Performance

The company has a market cap of $900.60 million, a PE ratio of 10.34 and a beta of 0.78. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.12. The business has a fifty day moving average of $15.56 and a 200-day moving average of $14.80.

Farmers National Banc (NASDAQ:FMNB - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.41 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 12.03% and a net margin of 20.52%. Equities research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th were given a $0.18 dividend. The ex-dividend date was Friday, September 11th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.7%. This is an increase from Farmers National Banc's previous quarterly dividend of $0.17. Farmers National Banc's dividend payout ratio is 48.98%.

Insider Activity

In related news, EVP Mark Wenick sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $15.97, for a total transaction 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. This represents a 13.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.50% of the company's stock.

Institutional Trading of Farmers National Banc

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue raised its position in Farmers National Banc by 8.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 9,058 shares of the bank's stock worth $135,000 after buying an additional 731 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Farmers National Banc by 6.4% during the 1st quarter. SG Americas Securities LLC now owns 15,227 shares of the bank's stock valued at $200,000 after purchasing an additional 920 shares during the period. Fifth Third Bancorp grew its stake in shares of Farmers National Banc by 5.3% during the 2nd quarter. Fifth Third Bancorp now owns 20,092 shares of the bank's stock valued at $293,000 after purchasing an additional 1,006 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Farmers National Banc by 2.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 55,292 shares of the bank's stock valued at $728,000 after purchasing an additional 1,123 shares during the last quarter. Finally, Parallel Advisors LLC increased 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 purchasing an additional 1,288 shares during the last quarter. Hedge funds and other institutional investors own 38.72% of the company's stock.

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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