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

PNC Financial Services Group Inc. trimmed its stake in Farmers National Banc Corp. (NASDAQ:FMNB) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,054 shares of the bank’s stock after selling 1,376 shares during the period. PNC Financial Services Group Inc.’s holdings in Farmers National Banc were worth $923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in FMNB. Los Angeles Capital Management LLC purchased a new stake in Farmers National Banc in the 3rd quarter valued at about $311,000. Farmers Trust Co. boosted its position in Farmers National Banc by 5.0% in the 3rd quarter. Farmers Trust Co. now owns 416,520 shares of the bank’s stock valued at $6,298,000 after buying an additional 19,778 shares during the period. PEAK6 Investments LLC purchased a new stake in Farmers National Banc in the 1st quarter valued at about $248,000. Busey Bank purchased a new stake in Farmers National Banc in the 2nd quarter valued at about $224,000. Finally, SG Americas Securities LLC purchased a new stake in Farmers National Banc in the 3rd quarter valued at about $214,000. 38.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $17.00 price target on shares of Farmers National Banc in a research report on Thursday, November 21st. StockNews.com raised shares of Farmers National Banc from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Farmers National Banc currently has an average rating of “Hold” and an average price target of $16.67.

Insider Buying and Selling

In other Farmers National Banc news, EVP Timothy F. Shaffer sold 1,799 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $15.00, for a total transaction of $26,985.00. Following the transaction, the executive vice president now owns 35,282 shares in the company, valued at approximately $529,230. This represents a 4.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.00% of the stock is currently owned by company insiders.

Farmers National Banc Price Performance

Shares of FMNB opened at $15.69 on Friday. The company has a 50 day moving average price of $14.84 and a 200-day moving average price of $14.03. Farmers National Banc Corp. has a fifty-two week low of $11.55 and a fifty-two week high of $16.32. The stock has a market capitalization of $589.79 million, a PE ratio of 12.76 and a beta of 0.83. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.74 and a current ratio of 0.74.

Farmers National Banc (NASDAQ:FMNB) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.23 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.12). The firm had revenue of $70.26 million for the quarter, compared to the consensus estimate of $42.90 million. Farmers National Banc had a return on equity of 11.92% and a net margin of 17.26%. Equities analysts predict that Farmers National Banc Corp. will post 1.23 earnings per share for the current fiscal year.

Farmers National Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, December 13th. This represents a $0.68 annualized dividend and a dividend yield of 4.33%. Farmers National Banc’s dividend payout ratio (DPR) is presently 55.28%.

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.