Farmers National Banc (NASDAQ:FMNB) Announces Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Farmers National Banc (NASDAQ:FMNB) released its earnings results on Wednesday. The bank reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.08, FiscalAI reports. The company had revenue of $65.87 million for the quarter, compared to the consensus estimate of $70.75 million.

Farmers National Banc Price Performance

Farmers National Banc stock traded down $0.15 during mid-day trading on Wednesday, reaching $15.37. 71,347 shares of the company were exchanged, compared to its average volume of 398,879. The company has a fifty day simple moving average of $15.49 and a 200-day simple moving average of $14.35. Farmers National Banc has a 12 month low of $12.12 and a 12 month high of $16.46.

Farmers National Banc Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 11th were given a dividend of $0.18 per share. This is an increase from Farmers National Banc’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Friday, September 11th.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FMNB shares. Wall Street Zen raised Farmers National Banc from a “hold” rating to a “buy” rating in a research report on Sunday, August 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Farmers National Banc in a research note on Monday. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.00.

Insiders Place Their Bets

In other news, EVP Mark Wenick sold 5,000 shares of the company’s stock in a transaction 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 sale, the executive vice president directly owned 32,020 shares in the company, valued at approximately $511,359.40. This represents a 13.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.50% of the stock is owned by corporate insiders.

Farmers National Banc Company Profile

Farmers National Banc Corp. is a bank holding company headquartered in Canfield, Ohio. Through its principal subsidiary, Farmers National Bank, the company provides community banking services to individuals, families and businesses.

Farmers National Bank offers deposit accounts, consumer and commercial lending, residential mortgages, online and mobile banking, treasury management and other financial services. The company also provides wealth management and trust services through Farmers Trust Company, as well as insurance-related services through its affiliated operations.

Founded in 1887, Farmers National Banc Corp.