Farmers National Banc (NASDAQ:FMNB) Sets New 52-Week High – Still a Buy?

Farmers National Banc Corp. (NASDAQ:FMNB) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $16.18 and last traded at $16.17, with a volume of 129675 shares. The stock had previously closed at $16.06.

Analysts Set New Price Targets

Several brokerages have issued reports on FMNB. 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. Piper Sandler upped their target price on Farmers National Banc from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. Finally, Wall Street Zen raised Farmers National Banc from a “hold” rating to a “buy” rating in a research report on Monday. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.00.

Farmers National Banc Stock Performance

The stock’s 50-day moving average is $14.89 and its 200-day moving average is $13.98. The stock has a market cap of $972.62 million, a price-to-earnings ratio of 11.18 and a beta of 0.76. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.79 and a quick ratio of 0.79.

Farmers National Banc (NASDAQ:FMNB) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.41 earnings per share 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 during the quarter, compared to the consensus estimate of $70.10 million. Analysts anticipate that Farmers National Banc Corp. will post 1.68 EPS 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. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.1%. Farmers National Banc’s payout ratio is currently 46.26%.

Insider Buying and Selling at Farmers National Banc

In other Farmers National Banc news, EVP Mark J. Wenick sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $15.97, for a total value of $79,850.00. Following the sale, the executive vice president directly owned 32,020 shares of the company’s stock, valued at approximately $511,359.40. This trade represents a 13.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael C. Voinovich sold 23,309 shares of Farmers National Banc stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $14.21, for a total value of $331,220.89. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FMNB. AQR Capital Management LLC grew its holdings in Farmers National Banc by 94.6% in the first quarter. AQR Capital Management LLC now owns 27,870 shares of the bank’s stock valued at $364,000 after purchasing an additional 13,548 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 worth $283,000 after purchasing an additional 936 shares during the period. Empowered Funds LLC raised its stake in Farmers National Banc by 50.3% during the first quarter. Empowered Funds LLC now owns 38,058 shares of the bank’s stock worth $497,000 after purchasing an additional 12,735 shares during the period. Jane Street Group LLC purchased a new position in Farmers National Banc during the first quarter worth approximately $830,000. Finally, Legal & General Group Plc boosted its holdings in shares of Farmers National Banc by 18.2% in the 2nd quarter. Legal & General Group Plc now owns 36,462 shares of the bank’s stock valued at $503,000 after purchasing an additional 5,612 shares during the last quarter. 38.72% of the stock is currently owned by hedge funds and other institutional investors.

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.