Farmers National Banc (NASDAQ:FMNB) Posts Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Farmers National Banc (NASDAQ:FMNB) released its earnings results on Wednesday. The bank reported $0.23 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.12), Yahoo Finance reports. Farmers National Banc had a return on equity of 14.55% and a net margin of 19.50%. The business had revenue of $70.26 million for the quarter, compared to analyst estimates of $42.90 million.

Farmers National Banc Stock Down 1.2 %

FMNB stock traded down $0.17 during mid-day trading on Friday, reaching $13.69. 84,066 shares of the company traded hands, compared to its average volume of 94,306. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average price is $14.88 and its 200 day moving average price is $13.55. The stock has a market cap of $514.06 million, a price-to-earnings ratio of 9.44 and a beta of 0.82. Farmers National Banc has a fifty-two week low of $10.85 and a fifty-two week high of $16.32.

Farmers National Banc Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $0.17 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.68 annualized dividend and a yield of 4.97%. Farmers National Banc’s payout ratio is 46.90%.

Insider Transactions at Farmers National Banc

In related news, EVP Timothy F. Shaffer sold 1,799 shares of Farmers National Banc stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $15.00, for a total transaction of $26,985.00. Following the transaction, the executive vice president now owns 35,282 shares of the company’s stock, valued at $529,230. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Farmers National Banc news, EVP Mark J. Wenick sold 2,000 shares of Farmers National Banc stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $15.88, for a total transaction of $31,760.00. Following the transaction, the executive vice president now owns 27,116 shares of the company’s stock, valued at $430,602.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy F. Shaffer sold 1,799 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $15.00, for a total value of $26,985.00. Following the completion of 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.

Analysts Set New Price Targets

FMNB has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $15.00 price target (up from $14.00) on shares of Farmers National Banc in a report on Thursday, July 25th. Raymond James increased their price target on Farmers National Banc from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, StockNews.com upgraded Farmers National Banc from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Farmers National Banc has an average rating of “Hold” and an average target price of $15.67.

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.