Farmers National Banc Corp (FMNB) Raises Dividend to $0.08 Per Share
Farmers National Banc Corp (NASDAQ:FMNB) announced a quarterly dividend on Wednesday, August 29th, Wall Street Journal reports. Investors of record on Friday, September 14th will be paid a dividend of 0.08 per share by the bank on Friday, September 28th. This represents a $0.32 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Thursday, September 13th. This is a boost from Farmers National Banc’s previous quarterly dividend of $0.07.
Farmers National Banc has increased its dividend by an average of 22.4% per year over the last three years. Farmers National Banc has a payout ratio of 27.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Farmers National Banc to earn $1.25 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 25.6%.
FMNB traded up $0.05 during midday trading on Wednesday, reaching $15.50. 710 shares of the company were exchanged, compared to its average volume of 31,350. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $438.11 million, a P/E ratio of 17.28 and a beta of 0.41. Farmers National Banc has a one year low of $12.80 and a one year high of $16.90.
In related news, Director Edward Muransky acquired 4,000 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was purchased at an average cost of $15.86 per share, with a total value of $63,440.00. Following the acquisition, the director now owns 13,044 shares of the company’s stock, valued at approximately $206,877.84. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have acquired a total of 5,065 shares of company stock valued at $80,589 over the last three months. Corporate insiders own 9.11% of the company’s stock.
FMNB has been the subject of a number of recent research reports. BidaskClub raised Farmers National Banc from a “hold” rating to a “buy” rating in a report on Friday, June 8th. Zacks Investment Research raised Farmers National Banc from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Friday, July 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $17.00.
About Farmers National Banc
Farmers National Banc Corp., through its subsidiaries, operates in the banking, trust, retirement consulting, insurance, and financial management industries. The company offers commercial and retail banking services, including checking, savings, and time deposit accounts; commercial, mortgage and installment, and home equity loans; home equity lines of credit, night depository, safe deposit box, money order, bank check, automated teller machine, Internet banking, travel card, E bond transaction, credit card, brokerage, and other services.
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