PNC Financial Services Group Inc. Reduces Stake in Farmers National Banc Corp.

PNC Financial Services Group Inc. has made a slight adjustment to its investment in Farmers National Banc Corp. (NASDAQ:FMNB – Free Report) by reducing its stake by 2.2% during the third quarter of the year. According to its latest submission to the Securities and Exchange Commission (SEC), PNC now holds a total of 61,054 shares after divesting 1,376 shares. The current value of these holdings is approximately $923,000.

In addition to PNC, several other institutional investors have also reassessed their positions in Farmers National Banc. For example, Los Angeles Capital Management LLC entered a new investment in Farmers National Banc, valued at about $311,000 during the third quarter. Farmers Trust Co. raised its ownership by 5.0%, acquiring an additional 19,778 shares, bringing its total to 416,520 shares with a valuation of $6,298,000. Other notable investors include PEAK6 Investments LLC, which purchased a stake valued at around $248,000, and Busey Bank, whose stake is worth about $224,000. SG Americas Securities LLC also acquired a new position valued at roughly $214,000. Overall, institutional investors, including hedge funds, hold about 38.72% of Farmers National Banc's stock.

Updates from Analysts

Recent evaluations by research analysts have provided insight into Farmers National Banc's market position. Piper Sandler maintained a “neutral” rating while setting a price target of $17.00 for the stock. StockNews.com upgraded its position from a “sell” to a “hold” rating on November 15. Currently, three analysts recommend holding the stock, while one analyst gives it a buy rating. The average rating among analysts is “Hold” with a price target of $16.67 according to MarketBeat data.

Insider Transactions

In recent insider trading news, EVP Timothy F. Shaffer sold 1,799 shares of Farmers National Banc on September 5, at an average price of $15.00, totaling approximately $26,985. Following this transaction, Shaffer now owns 35,282 shares of the company, valued at around $529,230, which represents a 4.85% decrease in his stake. This sale has been recorded in a SEC filing, which is accessible to the public. It is noteworthy that insiders currently hold 4.00% of the company's stock.

Performance Overview

As of Friday, FMNB shares were trading at $15.69. The company's stock has a 50-day moving average price of $14.84 and a 200-day moving average of $14.03. The stock's performance has fluctuated between a fifty-two week low of $11.55 and a high of $16.32. Farmers National Banc boasts a market capitalization of approximately $589.79 million and has a price-to-earnings (PE) ratio of 12.76 with a beta of 0.83. Its debt-to-equity ratio stands at 0.20, with quick and current ratios both at 0.74.

Recent Earnings Report

Farmers National Banc released its recent quarterly earnings on October 23. The bank reported earnings per share (EPS) of $0.23, which fell short of the consensus expectation of $0.35 by $0.12. The total revenue for the quarter was $70.26 million, surpassing the estimated $42.90 million. As a result, the bank recorded a return on equity of 11.92% with a net margin of 17.26%. Analysts forecast that Farmers National Banc will report an EPS of 1.23 for the current fiscal year.

Dividend Announcement

Farmers National Banc has also announced a quarterly dividend payment, scheduled for December 31. Investors on record as of December 13 will receive a dividend of $0.17 per share. This leads to an annualized dividend of $0.68, translating to a dividend yield of 4.33%. The current dividend payout ratio is 55.28%.

Company Overview

Farmers National Banc Corp. operates as a bank holding company for The Farmers National Bank of Canfield. The bank offers various services including banking, trust, retirement consulting, insurance, and financial management. Its services cover commercial and retail banking, savings, checking accounts, loans, safe deposit boxes, and different financial services to both individuals and businesses.

PNC, Investors, Shares, Market, Earnings