Farmers National Banc (NASDAQ:FMNB) Sets New 1-Year High – Here’s Why

Farmers National Banc Corp. (NASDAQ:FMNB) shares hit a new 52-week high on Monday . The stock traded as high as $16.16 and last traded at $16.11, with a volume of 24768 shares trading hands. The stock had previously closed at $15.86.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FMNB. Wall Street Zen cut shares of Farmers National Banc from a “buy” rating to a “hold” rating in a research note on Sunday. Weiss Ratings upgraded shares of Farmers National Banc from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Finally, Piper Sandler raised their price target on shares of Farmers National Banc from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $16.00.

Farmers National Banc Trading Up 0.1%

The stock has a market capitalization of $946.93 million, a price-to-earnings ratio of 10.88 and a beta of 0.76. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.19. The company has a fifty day moving average of $14.63 and a two-hundred day moving average of $13.86.

Farmers National Banc (NASDAQ:FMNB) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. Farmers National Banc had a return on equity of 13.14% and a net margin of 20.52%.The company had revenue of $70.44 million for the quarter, compared to the consensus estimate of $70.10 million. On average, research analysts expect that Farmers National Banc Corp. will post 1.68 EPS for the current year.

Farmers National Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 12th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, June 12th. Farmers National Banc’s dividend payout ratio is currently 46.26%.

Insider Transactions at Farmers National Banc

In related news, Director Michael C. Voinovich sold 23,309 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $14.21, for a total value of $331,220.89. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Farmers National Banc

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sax Wealth Advisors LLC bought a new position in shares of Farmers National Banc in the second quarter worth about $184,000. Parallel Advisors LLC lifted 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 worth $37,000 after purchasing an additional 1,288 shares during the last quarter. Bank of America Corp DE boosted its stake in Farmers National Banc by 99.1% during the 1st quarter. Bank of America Corp DE now owns 105,394 shares of the bank’s stock valued at $1,387,000 after purchasing an additional 52,450 shares during the period. Janus Henderson Group PLC boosted its stake in Farmers National Banc by 153.8% during the 1st quarter. Janus Henderson Group PLC now owns 34,987 shares of the bank’s stock valued at $461,000 after purchasing an additional 21,200 shares during the period. Finally, Amundi acquired a new stake in Farmers National Banc in the 1st quarter valued at approximately $382,000. 38.72% of the stock is owned by institutional investors and hedge funds.

About Farmers National Banc

Farmers National Banc Corp. operates as the bank holding company for Farmers National Bank, a community-oriented financial institution headquartered in Ada, Ohio. The company provides a comprehensive suite of banking services through a network of branches serving rural and small-town markets across central Ohio. Its local decision-making model emphasizes personalized customer service and close ties to the communities it serves.

The company’s primary business activities include the origination of commercial loans, consumer installment loans, agricultural financing, and residential mortgages.