Farmers National Banc (NASDAQ:FMNB) Announces Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Farmers National Banc (NASDAQ:FMNB) posted its earnings results on Wednesday. The bank reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07, FiscalAI reports. The company had revenue of $70.44 million for the quarter, compared to the consensus estimate of $70.10 million. Farmers National Banc had a return on equity of 13.14% and a net margin of 20.52%.

Farmers National Banc Trading Up 2.5%

Shares of NASDAQ FMNB traded up $0.38 during midday trading on Friday, reaching $15.20. 107,907 shares of the stock were exchanged, compared to its average volume of 413,788. The stock has a 50 day moving average price of $14.35 and a 200-day moving average price of $13.73. 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 market capitalization of $899.85 million, a P/E ratio of 10.34 and a beta of 0.77. Farmers National Banc has a 52-week low of $12.12 and a 52-week high of $15.50.

Farmers National Banc Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 12th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Friday, June 12th. Farmers National Banc’s dividend payout ratio (DPR) is currently 46.26%.

Insider Activity

In related news, Director Michael C. Voinovich sold 23,309 shares of the firm’s stock in a transaction that occurred 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 accessible through the SEC website. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Farmers National Banc

Several large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new position in Farmers National Banc during the fourth quarter worth approximately $2,707,000. Millennium Management LLC boosted its holdings in shares of Farmers National Banc by 231.9% in the 4th quarter. Millennium Management LLC now owns 263,553 shares of the bank’s stock valued at $3,511,000 after purchasing an additional 184,155 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Farmers National Banc by 454.6% during the 3rd quarter. First Trust Advisors LP now owns 137,655 shares of the bank’s stock valued at $1,984,000 after buying an additional 112,834 shares during the period. Bridgeway Capital Management LLC grew its stake in shares of Farmers National Banc by 139.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 190,714 shares of the bank’s stock valued at $2,540,000 after buying an additional 111,027 shares during the period. Finally, Empowered Funds LLC grew its stake in shares of Farmers National Banc by 109.2% during the 4th quarter. Empowered Funds LLC now owns 143,728 shares of the bank’s stock valued at $1,914,000 after buying an additional 75,009 shares during the period. 38.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FMNB shares. Zacks Research raised Farmers National Banc from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Weiss Ratings upgraded shares of Farmers National Banc from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 8th. Wall Street Zen cut shares of Farmers National Banc from a “buy” rating to a “hold” rating in a research report on Sunday, June 28th. Finally, Piper Sandler upped 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 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 stock presently has an average rating of “Hold” and an average target price of $16.00.

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.