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

PNC Financial Services Group Inc. has decreased its stake in Farmers National Banc Corp. (NASDAQ:FMNB) by 2.2% during the third quarter, as stated in its latest filing with the Securities and Exchange Commission (SEC). Following the sale of 1,376 shares during this period, PNC now holds 61,054 shares of the bank's stock, which are valued at approximately $923,000 according to the recent SEC filing.

Additionally, other large investors have made adjustments to their holdings in Farmers National Banc. For instance, Los Angeles Capital Management LLC established a new stake in the bank during the third quarter, worth about $311,000. Farmers Trust Co. increased its investment in Farmers National Banc by 5.0%, acquiring an additional 19,778 shares, bringing its total holdings to 416,520 shares valued at $6,298,000. Moreover, PEAK6 Investments LLC and Busey Bank also acquired new stakes earlier in the year, valued at approximately $248,000 and $224,000, respectively. SG Americas Securities LLC joined the list of investors by purchasing a stake worth about $214,000 in the third quarter. Overall, 38.72% of Farmers National Banc stock is owned by institutional investors and hedge funds.

Changes in Analyst Ratings

Recent ratings from equity research analysts also reflect a neutral sentiment towards Farmers National Banc. Piper Sandler reiterated a "neutral" rating and set a price target of $17.00 for the shares on November 21st. On a different note, StockNews.com upgraded its rating from "sell" to "hold" on November 15th. Currently, three analysts rate the stock as a hold, while one analyst has given a buy rating. The average rating stands as "Hold" with an average price target of $16.67, according to MarketBeat data.

Insider Transactions

In other developments regarding Farmers National Banc, EVP Timothy F. Shaffer sold 1,799 shares of the company stock on September 5th at an average price of $15.00, totaling $26,985. Post-sale, Shaffer's holdings reduced to 35,282 shares valued at around $529,230, indicating a decrease of 4.85% in his overall position. This insider sale was documented in an SEC filing, which is accessible on the SEC website. Currently, company insiders own approximately 4.00% of Farmers National Banc's stock.

Stock Performance and Financial Metrics

As of Friday, shares of Farmers National Banc opened at $15.69. The company has a 50-day moving average price of $14.84 and a 200-day moving average of $14.03. Over the past year, its stock reached a low of $11.55 and a high of $16.32. With a market capitalization of $589.79 million, the company has a PE ratio of 12.76 and a beta of 0.83. Financial metrics reveal a debt-to-equity ratio of 0.20, a quick ratio of 0.74, and a current ratio of 0.74.

Farmers National Banc reported its quarterly earnings on October 23rd, revealing an earnings per share (EPS) of $0.23 for the quarter, which fell short of the expected EPS of $0.35 by $0.12. Revenue for the quarter was reported at $70.26 million, surpassing the consensus estimate of $42.90 million. The bank's return on equity was recorded at 11.92%, along with a net margin of 17.26%. Analysts project that Farmers National Banc Corp. will report an EPS of 1.23 for the current fiscal year.

Dividend Information

Farmers National Banc has also announced a quarterly dividend which is scheduled to be paid on December 31st. Shareholders who are on record as of December 13th will receive a dividend payment of $0.17 per share, with the ex-dividend date set for December 13th. This dividend translates to an annual payout of $0.68, resulting in a yield of 4.33%. The company's dividend payout ratio currently stands at 55.28%.

About Farmers National Banc

Farmers National Banc Corp. operates as a bank holding company for The Farmers National Bank of Canfield. The bank is involved in various financial activities including banking, trust services, retirement consulting, insurance, and financial management. It offers a range of services including commercial and retail banking, checking and savings accounts, loans, and various financial products and services.

PNC, FMNB, Shares, Investment, Dividends