Farmers National Banc Corp (NASDAQ:FMNB) announced a quarterly dividend on Thursday, August 15th, Zacks reports. Stockholders of record on Friday, September 13th will be given a dividend of 0.10 per share by the bank on Monday, September 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Thursday, September 12th. This is a boost from Farmers National Banc’s previous quarterly dividend of $0.09.
Farmers National Banc has raised its dividend by an average of 35.7% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Farmers National Banc has a payout ratio of 34.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Farmers National Banc to earn $1.33 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 30.1%.
FMNB stock traded down $0.02 during mid-day trading on Wednesday, reaching $13.98. 31,056 shares of the company’s stock were exchanged, compared to its average volume of 25,796. The company has a market cap of $387.34 million, a price-to-earnings ratio of 12.16 and a beta of 0.85. The stock’s 50 day moving average is $13.95 and its 200 day moving average is $14.19. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.88 and a quick ratio of 0.87. Farmers National Banc has a 12-month low of $11.56 and a 12-month high of $15.70.
FMNB has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Farmers National Banc from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Friday, September 6th. Boenning Scattergood reaffirmed a “buy” rating and set a $15.50 price objective on shares of Farmers National Banc in a report on Wednesday, July 31st. ValuEngine lowered shares of Farmers National Banc from a “hold” rating to a “sell” rating in a research report on Wednesday, July 17th. Finally, BidaskClub cut shares of Farmers National Banc from a “hold” rating to a “sell” rating in a research note on Friday, August 16th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $15.50.
About Farmers National Banc
Farmers National Banc Corp., through its subsidiaries, operates in the banking, trust, retirement consulting, insurance, and financial management industries. The company offers commercial and retail banking services, including checking, savings, and time deposit accounts; commercial, mortgage and installment, and home equity loans; home equity lines of credit, night depository, safe deposit box, money order, bank check, automated teller machine, Internet banking, travel card, E bond transaction, MasterCard and Visa credit cards, brokerage, and other services.
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