$40.57 million in expected sales for Farmers National Banc Corp. (NASDAQ: FMNB) this quarter
Equity research analysts expect Farmers National Banc Corp. (NASDAQ: FMNB) reports sales of $40.57 million for the current quarter, according to Zacks. Three analysts provided earnings estimates for Farmers National Banc, with the highest sales estimate of $41.00 million and the lowest estimate of $40.10 million. Farmers National Banc reported sales of $35.85 million in the same quarter last year, which would indicate a positive growth rate of 13.2% year over year. The company is expected to release its next quarterly earnings report on Wednesday, April 27.
On average, analysts expect Farmers National Banc to report sales of $162.63 million for the current year, with estimates ranging from $162.10 million to $163.00 million. For the next fiscal year, analysts expect the company to post sales of $167.55 million, with estimates ranging from $166.00 to $169.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts who track Farmers National Banc.
A number of brokerages have weighed in on FMNB recently. Raymond James cut his price target on Farmers National Banc shares from $21.00 to $20.00 and gave the stock an “outperform” rating in a Thursday, Feb. 3 research note. Zacks Investment Research moved Farmers National Banc from a “hold” rating to a “buy” rating and set a target price of $21.00 on the stock in a Tuesday, Jan. 25 research note.
FMNB opened at $17.61 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt ratio of 0.13. The company has a market capitalization of $498.75 million, a P/E ratio of 9.78 and a beta of 0.95. The Farmers National Banc has a 52 week low of $13.50 and a 52 week high of $20.00. The company’s 50-day moving average is $18.40 and its 200-day moving average is $17.10.
The company also recently announced a quarterly dividend, which was paid on Friday, December 31. Investors of record on Friday, December 10 received a dividend of $0.14. This is a positive change from Farmers National Banc’s previous quarterly dividend of $0.11. This represents an annualized dividend of $0.56 and a yield of 3.18%. The ex-dividend date was Thursday, December 9. The Farmers National Banc payout ratio is 31.11%.
In other Farmers National Banc news, Director Edward Muransky bought 5,000 shares of the company in a transaction dated Friday, November 26. The stock was purchased at an average price of $17.58 per share, for a total transaction of $87,900.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. During the last quarter, insiders purchased 21,209 shares of the company valued at $375,356. Company insiders hold 8.86% of the company’s shares.
Hedge funds have recently changed their holdings in the company. Citigroup Inc. increased its holdings of 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 buying 668 more shares in the last quarter. 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 valued at $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 valued at $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 of the bank valued at $109,000 after purchasing an additional 3,784 shares during the period. Finally, Quadrature Capital Ltd purchased a new equity stake in Farmers National Banc during the third quarter valued at approximately $165,000. Institutional investors hold 41.69% of the company’s shares.
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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