Farmers National Banc (NASDAQ:FMNB) Share Price Breaks Above 200 Day Moving Average – Here’s Why

Farmers National Banc Corp. (NASDAQ:FMNB) crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $14.80 and traded as high as $15.42. Farmers National Banc shares last traded at $15.20, with a volume of 273,352 shares.

Wall Street Analyst Weigh In

FMNB has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Farmers National Banc from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Wall Street Zen raised Farmers National Banc from a “hold” rating to a “buy” rating in a report on Sunday, August 30th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Farmers National Banc currently has a consensus rating of “Hold” and a consensus price target of $16.00.

Farmers National Banc Price Performance

The company’s fifty day moving average is $15.55 and its two-hundred day moving average is $14.82. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $907.12 million, a price-to-earnings ratio of 10.41 and a beta of 0.78.

Farmers National Banc (NASDAQ:FMNB) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The business 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 12.03% and a net margin of 20.52%. Equities research analysts anticipate that Farmers National Banc Corp. will post 1.68 earnings per share for the current fiscal year.

Farmers National Banc Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.7%. This is an increase from Farmers National Banc’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, September 11th. Farmers National Banc’s dividend payout ratio (DPR) is 48.98%.

Insider Activity

In other news, EVP Mark Wenick sold 5,000 shares of the company’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 completion of the sale, the executive vice president directly owned 32,020 shares of the company’s stock, valued at $511,359.40. This represents a 13.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FMNB. State Street Corp raised its position in shares of Farmers National Banc by 60.1% during the second quarter. State Street Corp now owns 1,989,971 shares of the bank’s stock worth $29,054,000 after purchasing an additional 746,719 shares during the period. BlackRock Inc. lifted its holdings in shares of Farmers National Banc by 13.5% during the 2nd quarter. BlackRock Inc. now owns 4,798,011 shares of the bank’s stock valued at $70,051,000 after purchasing an additional 569,057 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Farmers National Banc during the 2nd quarter valued at about $6,827,000. Dimensional Fund Advisors LP grew its position in shares of 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 purchasing an additional 302,397 shares during the period. Finally, Empowered Funds LLC acquired a new position in shares of Farmers National Banc in the 2nd quarter valued at approximately $3,354,000. Institutional investors own 38.72% of the company’s stock.

About Farmers National Banc

Farmers National Banc Corp. is a bank holding company headquartered in Canfield, Ohio. Through its principal subsidiary, Farmers National Bank, the company provides community banking services to individuals, families and businesses.

Farmers National Bank offers deposit accounts, consumer and commercial lending, residential mortgages, online and mobile banking, treasury management and other financial services. The company also provides wealth management and trust services through Farmers Trust Company, as well as insurance-related services through its affiliated operations.

Founded in 1887, Farmers National Banc Corp.