Farmers National Banc Corp. (NASDAQ:FMNB) Sees Large Increase in Short Interest

Farmers National Banc Corp. (NASDAQ:FMNB) was the target of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 1,560,289 shares, a growth of 85.1% from the June 15th total of 842,863 shares. Based on an average daily volume of 719,552 shares, the short-interest ratio is currently 2.2 days. Currently, 2.7% of the shares of the company are short sold.

Insider Transactions at Farmers National Banc

In related news, Director Michael C. Voinovich sold 23,309 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $14.21, for a total value of $331,220.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Farmers National Banc

A number of institutional investors have recently made changes to their positions in FMNB. Smithfield Trust Co bought a new stake in shares of Farmers National Banc during the fourth quarter worth approximately $30,000. Godfrey Financial Associates Inc. bought a new position in shares of Farmers National Banc during the fourth quarter worth approximately $37,000. Parallel Advisors LLC increased its stake in shares of Farmers National Banc by 86.1% during the first quarter. Parallel Advisors LLC now owns 2,784 shares of the bank’s stock worth $37,000 after purchasing an additional 1,288 shares during the period. Russell Investments Group Ltd. lifted its holdings in Farmers National Banc by 9,065.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,208 shares of the bank’s stock worth $46,000 after purchasing an additional 3,173 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Farmers National Banc by 49.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,519 shares of the bank’s stock worth $62,000 after purchasing an additional 1,487 shares during the last quarter. Institutional investors own 38.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FMNB. Wall Street Zen downgraded Farmers National Banc from a “buy” rating to a “hold” rating in a research report on Sunday, June 28th. Piper Sandler raised their price objective on Farmers National Banc from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, April 23rd. Zacks Research upgraded Farmers National Banc from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Finally, Weiss Ratings upgraded Farmers National Banc from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.00.

Farmers National Banc Price Performance

Shares of FMNB opened at $14.88 on Friday. The firm has a market capitalization of $881.19 million, a PE ratio of 10.26 and a beta of 0.77. The company’s 50-day moving average is $14.27 and its 200-day moving average is $13.68. Farmers National Banc has a fifty-two week low of $12.12 and a fifty-two week high of $15.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.79 and a quick ratio of 0.79.

Farmers National Banc (NASDAQ:FMNB) last posted its earnings results on Wednesday, April 22nd. The bank reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. The company had revenue of $56.26 million during the quarter, compared to analysts’ expectations of $55.30 million. Farmers National Banc had a net margin of 19.55% and a return on equity of 11.99%. Equities analysts forecast that Farmers National Banc will post 1.62 EPS for the current year.

Farmers National Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 12th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Friday, June 12th. Farmers National Banc’s dividend payout ratio is currently 46.90%.

About Farmers National Banc

Farmers National Banc Corp. operates as the bank holding company for Farmers National Bank, a community-oriented financial institution headquartered in Ada, Ohio. The company provides a comprehensive suite of banking services through a network of branches serving rural and small-town markets across central Ohio. Its local decision-making model emphasizes personalized customer service and close ties to the communities it serves.

The company’s primary business activities include the origination of commercial loans, consumer installment loans, agricultural financing, and residential mortgages.