Piper Sandler comments on Farmers National Banc Corp’s 2022 fiscal year results. (NASDAQ: FMNB)


Farmers National Bank Corp. (NASDAQ: FMNB – Get a rating) – Piper Sandler equity researchers raised their fiscal 2022 earnings per share estimates for Farmers National Banc in a note to investors Thursday, March 24. Piper Sandler analyst R. Siefers now expects the bank to earn $1.90 per share for the year, up from his previous forecast of $1.87. Piper Sandler also released estimates for Farmers National Banc Q4 2022 earnings at $0.51 EPS, Q1 2023 earnings at $0.50 EPS, Q2 2023 earnings at $0.52 EPS, earnings Q3 2023 earnings at $0.54 EPS, Q4 2023 earnings at $0.55 EPS and fiscal year 2023 earnings at $2.11 EPS.

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

FMNB shares opened at $17.38 on Monday. The stock has a market capitalization of $591.01 million, a PE ratio of 9.66 and a beta of 0.93. The company has a debt 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 minimum of $14.57 and a fifty-two week maximum of $20.00. The company’s 50-day simple moving average is $17.54 and its two-hundred-day simple moving average is $17.54. National Farmers Bank (NASDAQ:FMNB – Get a rating) last reported its quarterly earnings data on Thursday, Jan. 27. The bank reported earnings per share of $0.50 for the quarter. The company had revenue of $39.24 million for the quarter. Farmers National Banc posted a net margin of 33.35% and a return on equity of 16.07%.

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

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 31. Investors of record on Friday, March 11 will receive a dividend of $0.16. The ex-dividend date is Thursday, March 10. This represents an annualized dividend of $0.64 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%.

National Farmers Bank Company Profile (Get a rating)

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.

Further reading

Earnings history and estimates for Farmers National Banc (NASDAQ:FMNB)

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