PNC Financial Services Group Inc. Decreases Holdings in Farmers National Banc Corp. (NASDAQ:FMNB)

PNC Financial Services Group Inc. decreased its holdings in Farmers National Banc Corp. (NASDAQ:FMNB) by 4.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,554 shares of the bank’s stock after selling 2,500 shares during the period. PNC Financial Services Group Inc. owned approximately 0.16% of Farmers National Banc worth $833,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC boosted its position in Farmers National Banc by 67.7% during the third quarter. FMR LLC now owns 2,068 shares of the bank’s stock valued at $31,000 after buying an additional 835 shares during the period. R Squared Ltd bought a new stake in shares of Farmers National Banc in the 4th quarter valued at about $31,000. Matrix Trust Co boosted its holdings in Farmers National Banc by 606.0% during the 4th quarter. Matrix Trust Co now owns 6,679 shares of the bank’s stock valued at $95,000 after acquiring an additional 5,733 shares during the period. BNP Paribas Financial Markets grew its position in Farmers National Banc by 11.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,207 shares of the bank’s stock worth $124,000 after acquiring an additional 829 shares during the last quarter. Finally, Asset Dedication LLC increased its stake in Farmers National Banc by 1,998.9% in the 4th quarter. Asset Dedication LLC now owns 9,424 shares of the bank’s stock worth $134,000 after purchasing an additional 8,975 shares during the period. Institutional investors own 38.72% of the company’s stock.

Insider Activity

In other Farmers National Banc news, Director Gina A. Richardson purchased 2,334 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $13.75 per share, for a total transaction of $32,092.50. Following the purchase, the director now directly owns 9,896 shares in the company, valued at $136,070. The trade was a 30.86 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ralph D. Macali sold 14,300 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $14.00, for a total transaction of $200,200.00. Following the sale, the director now directly owns 48,983 shares in the company, valued at $685,762. The trade was a 22.60 % decrease in their position. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Piper Sandler cut their target price on shares of Farmers National Banc from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. StockNews.com raised shares of Farmers National Banc from a “sell” rating to a “hold” rating in a report on Thursday, December 19th.

Farmers National Banc Price Performance

Shares of Farmers National Banc stock opened at $13.16 on Tuesday. The business has a 50 day moving average of $13.78 and a 200 day moving average of $14.51. Farmers National Banc Corp. has a 52 week low of $11.55 and a 52 week high of $16.32. The company has a market cap of $495.01 million, a PE ratio of 10.79 and a beta of 0.86. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.20.

Farmers National Banc (NASDAQ:FMNB) last announced its earnings results on Wednesday, January 29th. The bank reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. Farmers National Banc had a net margin of 17.05% and a return on equity of 11.71%. As a group, equities research analysts forecast that Farmers National Banc Corp. will post 1.45 earnings per share for the current year.

Farmers National Banc Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date of this dividend is Friday, March 14th. Farmers National Banc’s payout ratio is presently 55.74%.

Farmers National Banc Company Profile

Farmers National Banc Corp. operates as a bank holding company for The Farmers National Bank of Canfield engages in the banking, trust, retirement consulting, insurance, and financial management businesses. It 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, brokerage, and other services.