Piper Sandler Brokers Raises Profit Estimates for Farmers National Banc Corp. (NASDAQ: FMNB)
Farmers National Bank Corp. (NASDAQ:FMNB) — Equity research analysts Piper Sandler raised their second quarter 2022 earnings per share estimates for Farmers National Banc shares in a report released Monday, January 31. Piper Sandler analyst R. Siefers now expects the bank to post earnings of $0.47 per share for the quarter, up from its previous estimate of $0.45. Piper Sandler also released estimates for Farmers National Banc Q3 2022 earnings at $0.47 EPS, Q4 2022 earnings at $0.48 EPS, Q1 2023 earnings at $0.46 EPS, earnings Q2 2023 earnings at $0.48 EPS, Q3 2023 earnings at $0.50 EPS, Q4 2023 earnings at $0.51 EPS, and fiscal 2023 earnings at $1.94 EPS.
Other research analysts have also published research reports on the stock. Zacks Investment Research upgraded Farmers National Banc shares from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a Tuesday, January 25, report. Raymond James raised his price target on Farmers National Banc shares from $20.00 to $21.00 and gave the company an “outperform” rating in a Thursday, Jan. 6 research report.
Shares of NASDAQ FMNB opened at $17.65 on Wednesday. The company has a 50-day simple moving average of $18.46 and a 200-day simple moving average of $17.03. The company has a market capitalization of $499.85 million, a PE ratio of 9.81 and a beta of 0.95. Farmers National Banc has a 1 year minimum of $13.38 and a 1 year maximum of $20.00. The company has a debt ratio of 0.13, a current ratio of 0.68 and a quick ratio of 0.68.
The company also recently announced a quarterly dividend, which was paid on Friday, December 31. Shareholders of record on Friday, December 10 received a dividend of $0.14 per share. This represents a dividend of $0.56 on an annualized basis and a yield of 3.17%. The ex-dividend date was Thursday, December 9. This is an increase from Farmers National Banc’s previous quarterly dividend of $0.11. Farmers National Banc’s dividend payout ratio is currently 31.11%.
In other news, Director Edward Muransky bought 15,000 shares of the company in a transaction on Monday, December 20. The shares were acquired at an average price of $17.72 per share, with a total value of $265,800.00. The acquisition was disclosed in a filing with the SEC, accessible via the SEC website. Insiders have acquired a total of 21,209 shares of the company worth $375,356 over the past three months. Insiders hold 8.86% of the shares of the company.
Hedge funds have recently changed their positions in the business. Citigroup Inc. increased its position in Farmers National Banc shares by 29.9% during the third quarter. Citigroup Inc. now owns 2,902 shares of the bank worth $46,000 after purchasing an additional 668 shares during the period. Lazard Asset Management LLC increased its position in Farmers National Banc shares by 32.2% during the second quarter. Lazard Asset Management LLC now owns 3,680 shares of the bank worth $57,000 after purchasing an additional 896 shares during the period. Metropolitan Life Insurance Co NY increased its position in Farmers National Banc shares by 52,950.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 4,244 shares of the bank worth $66,000 after purchasing an additional 4,236 shares during the period. BNP Paribas Arbitrage SA increased its position in Farmers National Banc shares by 118.9% during the third quarter. BNP Paribas Arbitrage SA now owns 6,967 shares in the bank worth $109,000 after purchasing an additional 3,784 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in the shares of Farmers National Banc during the 3rd quarter at a value of approximately $165,000. 41.69% of the shares are held by institutional investors.
National Farmers Bank Company Profile
Farmers National Bank Corp. is a bank and financial holding company that provides financial and banking services through its subsidiary, The Farmers National Bank of Canfield. It operates through Bank and Trust segments. The Banking segment includes commercial and retail banking, including checking accounts, savings accounts, term deposit accounts, commercial, mortgage and installment loans.
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