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Piper Sandler Comments on Farmers National Banc Corp.’s FY2022 Earnings (NASDAQ:FMNB)

Farmers National Banc Corp. (NASDAQ:FMNBGet Rating) – Equities researchers at Piper Sandler raised their FY2022 earnings per share estimates for Farmers National Banc in a note issued to investors on Thursday, March 24th. Piper Sandler analyst R. Siefers now expects that the bank will earn $1.90 per share for the year, up from their previous forecast of $1.87. Piper Sandler also issued estimates for Farmers National Banc’s Q4 2022 earnings at $0.51 EPS, Q1 2023 earnings at $0.50 EPS, Q2 2023 earnings at $0.52 EPS, Q3 2023 earnings at $0.54 EPS, Q4 2023 earnings at $0.55 EPS and FY2023 earnings at $2.11 EPS.

FMNB has been the topic of a number of other research reports. Raymond James cut their price target on shares of Farmers National Banc from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, February 3rd. Zacks Investment Research cut shares of Farmers National Banc from a “buy” rating to a “hold” rating in a report on Tuesday, March 8th.

Shares of FMNB opened at $17.38 on Monday. The stock has a market cap of $591.01 million, a PE ratio of 9.66 and a beta of 0.93. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.68 and a current ratio of 0.68. Farmers National Banc has a fifty-two week low of $14.57 and a fifty-two week high of $20.00. The firm’s 50-day simple moving average is $17.54 and its two-hundred day simple moving average is $17.54. Farmers National Banc (NASDAQ:FMNBGet Rating) last announced its quarterly earnings data on Thursday, January 27th. The bank reported $0.50 earnings per share for the quarter. The business had revenue of $39.24 million for the quarter. Farmers National Banc had a net margin of 33.35% and a return on equity of 16.07%.

A number of hedge funds have recently modified their holdings of FMNB. BlackRock Inc. boosted its holdings in Farmers National Banc by 16.6% in the fourth quarter. BlackRock Inc. now owns 2,007,713 shares of the bank’s stock worth $37,243,000 after purchasing an additional 285,652 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Farmers National Banc by 32.5% in the third quarter. The Manufacturers Life Insurance Company now owns 452,946 shares of the bank’s stock worth $7,116,000 after purchasing an additional 110,986 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. boosted its holdings in Farmers National Banc by 125.4% in the fourth quarter. Elizabeth Park Capital Advisors Ltd. now owns 188,026 shares of the bank’s stock worth $3,488,000 after purchasing an additional 104,604 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Farmers National Banc by 11.8% in the fourth quarter. Geode Capital Management LLC now owns 498,914 shares of the bank’s stock worth $9,254,000 after purchasing an additional 52,659 shares during the last quarter. Finally, Advisor Group Holdings Inc. boosted its holdings in Farmers National Banc by 425.0% in the fourth quarter. Advisor Group Holdings Inc. now owns 64,949 shares of the bank’s stock worth $1,205,000 after purchasing an additional 52,577 shares during the last quarter. Institutional investors own 43.04% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 31st. Investors of record on Friday, March 11th will be issued a $0.16 dividend. The ex-dividend date is Thursday, March 10th. This represents a $0.64 annualized dividend and a yield of 3.68%. This is a boost from Farmers National Banc’s previous quarterly dividend of $0.14. Farmers National Banc’s dividend payout ratio (DPR) is currently 35.56%.

Farmers National Banc Company Profile (Get Rating)

Farmers National Banc Corp. is a bank and financial holding company, which engages in the provision of financial and banking services through its subsidiary, The Farmers National Bank of Canfield. It operates through Bank and Trust segments. The Bank segment comprises commercial and retail banking services including checking accounts, savings accounts, time deposit accounts, commercial, mortgage, and installment loans.

Further Reading

Earnings History and Estimates for Farmers National Banc (NASDAQ:FMNB)

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