Farmers National Banc Corp. (NASDAQ:FMNB) to Issue $0.17 Quarterly Dividend

Farmers National Banc Corp. (NASDAQ:FMNB) announced a quarterly dividend on Wednesday, November 27th,Wall Street Journal reports. Investors of record on Friday, December 13th will be paid a dividend of 0.17 per share by the bank on Tuesday, December 31st. This represents a $0.68 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend is Friday, December 13th.

Farmers National Banc has raised its dividend payment by an average of 15.6% per year over the last three years. Farmers National Banc has a dividend payout ratio of 47.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Farmers National Banc to earn $1.44 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 47.2%.

Farmers National Banc Price Performance

FMNB stock traded down $0.09 during midday trading on Wednesday, reaching $15.69. The company had a trading volume of 41,077 shares, compared to its average volume of 93,792. The firm has a 50-day moving average price of $14.84 and a 200-day moving average price of $14.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.74 and a quick ratio of 0.74. The company has a market capitalization of $589.79 million, a P/E ratio of 12.83 and a beta of 0.83. Farmers National Banc has a 1 year low of $11.55 and a 1 year high of $16.32.

Farmers National Banc (NASDAQ:FMNB) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.12). Farmers National Banc had a return on equity of 11.92% and a net margin of 17.26%. The business had revenue of $70.26 million for the quarter, compared to analysts’ expectations of $42.90 million. On average, research analysts anticipate that Farmers National Banc will post 1.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FMNB has been the subject of a number of recent research reports. StockNews.com raised Farmers National Banc from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Piper Sandler restated a “neutral” rating and set a $17.00 price target on shares of Farmers National Banc in a report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $16.67.

Insider Buying and Selling

In related news, EVP Timothy F. Shaffer sold 1,799 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $15.00, for a total value of $26,985.00. Following the transaction, the executive vice president now directly owns 35,282 shares of the company’s stock, valued at approximately $529,230. This represents a 4.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.00% of the stock is currently owned by company insiders.

About Farmers National Banc

Farmers National Banc Corp. operates as a bank holding company for The Farmers National Bank of Canfield engages in the banking, trust, retirement consulting, insurance, and financial management businesses. It offers commercial and retail banking services, including checking, savings, and time deposit accounts; commercial, mortgage and installment, and home equity loans; home equity lines of credit, night depository, safe deposit box, money order, bank check, automated teller machine, Internet banking, travel card, E bond transaction, brokerage, and other services.