Farmers National Banc (NASDAQ:FMNB) Shares Cross Above 200-Day Moving Average – Here’s Why

Farmers National Banc Corp. (NASDAQ:FMNB) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.59 and traded as high as $14.63. Farmers National Banc shares last traded at $14.5730, with a volume of 362,941 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FMNB. Wall Street Zen raised shares of Farmers National Banc from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Zacks Research upgraded shares of Farmers National Banc from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Piper Sandler raised 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. Finally, 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. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $16.00.

Farmers National Banc Stock Performance

The company has a market cap of $860.39 million, a price-to-earnings ratio of 10.02 and a beta of 0.76. The stock’s fifty day simple moving average is $14.02 and its two-hundred day simple moving average is $13.60. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.79 and a current ratio of 0.79.

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

Farmers National Banc Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 12th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, June 12th. Farmers National Banc’s dividend payout ratio (DPR) is 46.90%.

Hedge Funds Weigh In On Farmers National Banc

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