Farmers National Banc (NASDAQ:FMNB) Stock Price Breaks Above 200 Day Moving Average – What’s Next?

by · The Markets Daily

Farmers National Banc Corp. (NASDAQ:FMNB – Get Free Report) shares crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $14.70 and traded as high as $15.17. Farmers National Banc shares last traded at $14.97, with a volume of 293,692 shares changing hands.

Analyst Upgrades and Downgrades

FMNB has been the topic of several recent 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 shares of Farmers National Banc from a “hold” rating to a “buy” rating in a report on Sunday, August 30th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $16.00.

View Our Latest Analysis on Farmers National Banc

Farmers National Banc Stock Performance

The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market capitalization of $886.97 million, a PE ratio of 10.18 and a beta of 0.78. The firm’s 50 day moving average is $15.65 and its two-hundred day moving average is $14.70.

Farmers National Banc (NASDAQ:FMNB – Get Free Report) last announced its earnings results on Wednesday, July 22nd. The bank reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Farmers National Banc had a net margin of 20.52% and a return on equity of 12.03%. The business had revenue of $70.44 million for the quarter, compared to analyst estimates of $70.10 million. As a group, research analysts predict that Farmers National Banc Corp. will post 1.68 earnings per share for the current year.

Farmers National Banc Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, September 11th. This is a positive change from Farmers National Banc’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 4.8%. Farmers National Banc’s dividend payout ratio (DPR) is 48.98%.

Insider Transactions at Farmers National Banc

In other Farmers National Banc news, EVP Mark 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. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC purchased a new position in Farmers National Banc in the 2nd quarter valued at about $25,000. Parallel Advisors LLC boosted its stake in Farmers National Banc by 86.1% in the first quarter. Parallel Advisors LLC now owns 2,784 shares of the bank’s stock valued at $37,000 after acquiring an additional 1,288 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Farmers National Banc by 105.6% during the third quarter. Versant Capital Management Inc now owns 3,857 shares of the bank’s stock valued at $58,000 after acquiring an additional 1,981 shares during the period. Apollon Wealth Management LLC bought a new stake in Farmers National Banc in the 1st quarter valued at about $138,000. Finally, Frazier Financial Advisors LLC bought a new stake in Farmers National Banc during the 1st quarter valued at $163,000. 38.72% of the stock is owned by hedge funds and other institutional investors.

About Farmers National Banc

(Get Free Report)

Farmers National Banc Corp. is a bank holding company headquartered in Canfield, Ohio. Its principal subsidiary, Farmers National Bank, provides banking and financial services to individuals, families, businesses and nonprofit organizations through community banking offices and digital channels.

The bank offers deposit accounts, consumer and residential lending, commercial loans, mortgages, home equity financing, cash-management services and other traditional banking products. Through affiliated businesses, Farmers National Banc also provides trust and wealth-management services, investment-related solutions and insurance products.

Founded in 1887, the company has a long history of serving communities in northeastern Ohio and western Pennsylvania.

Recommended Stories