CANFIELD, Ohio - Farmers National Banc Corp. (NASDAQ:FMNB), a financial services entity with a history dating back to 1887, announced today that its Board of Directors has approved a quarterly cash dividend. Shareholders are set to receive $0.17 per share, with the dividend being recorded on June 14, 2024, and the payment to follow on June 28, 2024.
The announcement reflects the company's ongoing commitment to providing value to its shareholders. Farmers National Banc Corp., with $5.1 billion in banking assets as of the latest report, operates The Farmers National Bank of Canfield and Farmers Trust Company among its subsidiaries. These entities provide a range of commercial, retail, and wealth management services across numerous counties in Ohio and Pennsylvania. The company also owns Farmers National Insurance, LLC, which offers various insurance products.
As of March 31, 2024, the wealth management assets under the care of Farmers National Banc Corp. were valued at $3.8 billion. The dividend declaration is a routine part of the company's financial practices, aimed at distributing a portion of its earnings back to its investors.
This dividend announcement is based on a press release statement from Farmers National Banc Corp. and is intended to inform current and potential investors about the latest financial actions taken by the company's board. It is a continuation of the company's practice of sharing its financial success with its shareholders through periodic dividend payments.
InvestingPro Insights
Farmers National Banc Corp. (NASDAQ:FMNB) stands out in the financial services sector with a strong history of rewarding its shareholders. The company's commitment to shareholder returns is evident from its latest dividend announcement and is further supported by the InvestingPro Tips that highlight its track record of raising dividends for 8 consecutive years and maintaining dividend payments for 31 consecutive years. This consistency in dividend payments underscores the company's stable financial approach and long-term strategy.
From a valuation perspective, Farmers National Banc Corp. has a market capitalization of $474.26 million, with an attractively low price-to-earnings (P/E) ratio of 8.7. The adjusted P/E ratio for the last twelve months as of Q1 2024 is even more compelling at 8.59. This indicates that the company's shares might be undervalued compared to its earnings capacity. Additionally, the dividend yield as of the latest data stands at a robust 5.43%, which is a significant consideration for income-focused investors.
Investors looking to delve deeper into the financial health and future prospects of Farmers National Banc Corp. can find additional valuable insights on InvestingPro. There are a total of 5 InvestingPro Tips available, which could provide a more nuanced understanding of the company's performance and potential. For those interested in a comprehensive investment analysis tool, InvestingPro offers an additional 10% off a yearly or biyearly Pro and Pro+ subscription with the coupon code PRONEWS24.
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