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

Farmers National Banc Corp. (NASDAQ:FMNB) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $15.67 and last traded at $15.6680, with a volume of 67692 shares trading hands. The stock had previously closed at $15.35.

Wall Street Analysts Forecast Growth

FMNB has been the subject of a number of research analyst reports. Piper Sandler increased their target price on shares of Farmers National Banc from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. Weiss Ratings raised shares of Farmers National Banc from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday. Wall Street Zen upgraded Farmers National Banc from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Finally, Zacks Research raised Farmers National Banc from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $16.00.

Farmers National Banc Price Performance

The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $945.15 million, a P/E ratio of 10.86 and a beta of 0.77. The company’s 50-day simple moving average is $14.49 and its 200 day simple moving average is $13.79.

Farmers National Banc (NASDAQ:FMNB) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The company had revenue of $70.44 million during the quarter, compared to analysts’ expectations of $70.10 million. Farmers National Banc had a return on equity of 13.14% and a net margin of 20.52%. As a group, sell-side analysts expect that Farmers National Banc Corp. will post 1.68 earnings per share for the current fiscal year.

Farmers National Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 12th were given a $0.17 dividend. 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 Activity

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC raised its position in shares of Farmers National Banc by 6.4% during the first quarter. SG Americas Securities LLC now owns 15,227 shares of the bank’s stock valued at $200,000 after buying an additional 920 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Farmers National Banc by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,652 shares of the bank’s stock valued at $283,000 after acquiring an additional 936 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Farmers National Banc by 3.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,607 shares of the bank’s stock valued at $368,000 after acquiring an additional 940 shares in the last quarter. HBK Sorce Advisory LLC lifted its position in shares of Farmers National Banc by 2.3% in the 4th quarter. HBK Sorce Advisory LLC now owns 42,083 shares of the bank’s stock worth $569,000 after acquiring an additional 966 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its holdings in shares of Farmers National Banc by 12.4% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 9,814 shares of the bank’s stock worth $131,000 after purchasing an additional 1,083 shares in the last quarter. Institutional investors own 38.72% of the company’s stock.

Farmers National Banc Company Profile

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.