Short Interest in Farmers National Banc Corp. (NASDAQ:FMNB) Rises By 85.1%

Farmers National Banc Corp. (NASDAQ:FMNB) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totaling 1,560,289 shares, a growth of 85.1% from the June 15th total of 842,863 shares. Based on an average daily trading volume, of 719,552 shares, the days-to-cover ratio is presently 2.2 days. Currently, 2.7% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FMNB. Wall Street Zen lowered shares of Farmers National Banc from a “buy” rating to a “hold” rating in a research report on Sunday, June 28th. Weiss Ratings upgraded shares of Farmers National Banc from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 8th. Zacks Research raised shares of Farmers National Banc from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Finally, Piper Sandler increased their price objective 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 given a Hold rating to the stock. According to data from MarketBeat, Farmers National Banc has an average rating of “Hold” and a consensus price target of $16.00.

Insider Buying and Selling

In other news, Director Michael C. Voinovich sold 23,309 shares of the firm’s 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. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Farmers National Banc

Several institutional investors and hedge funds have recently modified their holdings of FMNB. Vanguard Group Inc. lifted its position in shares of Farmers National Banc by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,127,360 shares of the bank’s stock worth $30,655,000 after purchasing an additional 52,854 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Farmers National Banc by 24.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,539,834 shares of the bank’s stock valued at $20,264,000 after buying an additional 302,397 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Farmers National Banc by 17.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 470,132 shares of the bank’s stock worth $6,187,000 after buying an additional 68,445 shares during the period. Beese Fulmer Investment Management Inc. increased its position in Farmers National Banc by 11.8% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 374,090 shares of the bank’s stock worth $4,983,000 after buying an additional 39,539 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Farmers National Banc by 21.9% during the first quarter. Bank of New York Mellon Corp now owns 337,929 shares of the bank’s stock worth $4,447,000 after buying an additional 60,820 shares during the last quarter. Institutional investors and hedge funds own 38.72% of the company’s stock.

Farmers National Banc Trading Down 1.6%

Shares of FMNB opened at $14.64 on Friday. The business’s 50-day moving average price is $14.28 and its 200 day moving average price is $13.68. The stock has a market capitalization of $866.98 million, a P/E ratio of 10.10 and a beta of 0.77. Farmers National Banc has a 1-year low of $12.12 and a 1-year high of $15.50. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.19.

Farmers National Banc (NASDAQ:FMNB) last announced its earnings results on Wednesday, April 22nd. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.08. The company had revenue of $56.26 million for the quarter, compared to the consensus estimate of $55.30 million. Farmers National Banc had a net margin of 19.55% and a return on equity of 11.99%. Analysts expect that Farmers National Banc will post 1.62 earnings per share for the current year.

Farmers National Banc Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 12th were paid a $0.17 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.68 dividend on an annualized basis and a yield of 4.6%. Farmers National Banc’s payout ratio is 46.90%.

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.