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

PNC Financial Services Group Inc. decreased its position in shares of Farmers National Banc Corp. (NASDAQ:FMNB) by 2.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 61,054 shares of the bank’s stock after selling 1,376 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.16% of Farmers National Banc worth $923,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Los Angeles Capital Management LLC purchased a new position in shares of Farmers National Banc during the 3rd quarter valued at $311,000. Rosenthal Henry Capital Advisors Inc. increased its holdings in Farmers National Banc by 2.1% in the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 142,661 shares of the bank’s stock valued at $2,157,000 after acquiring an additional 3,000 shares during the last quarter. Twelve Points Wealth Management LLC increased its holdings in Farmers National Banc by 8.0% in the 3rd quarter. Twelve Points Wealth Management LLC now owns 58,614 shares of the bank’s stock valued at $886,000 after acquiring an additional 4,345 shares during the last quarter. Creative Planning increased its holdings in Farmers National Banc by 46.0% in the 3rd quarter. Creative Planning now owns 36,306 shares of the bank’s stock valued at $549,000 after acquiring an additional 11,447 shares during the last quarter. Finally, Farmers Trust Co. increased its holdings 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 acquiring an additional 19,778 shares during the last quarter. Hedge funds and other institutional investors own 38.72% of the company’s stock.

Insider Buying and Selling

In related news, EVP Timothy F. Shaffer sold 1,799 shares of Farmers National Banc stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $15.00, for a total transaction of $26,985.00. Following the completion of the transaction, the executive vice president now directly owns 35,282 shares of the company’s stock, valued at approximately $529,230. The trade was a 4.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.00% of the stock is owned by corporate insiders.

Farmers National Banc Stock Performance

Farmers National Banc stock opened at $15.69 on Friday. The company’s 50-day moving average price is $14.84 and its 200-day moving average price is $14.03. Farmers National Banc Corp. has a twelve month low of $11.55 and a twelve month high of $16.32. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.20. The company has a market cap of $589.79 million, a PE ratio of 12.76 and a beta of 0.83.

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

Farmers National Banc Announces Dividend

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

Analysts Set New Price Targets

FMNB has been the topic of a number of research reports. Piper Sandler reiterated a “neutral” rating and issued a $17.00 price target on shares of Farmers National Banc in a report on Thursday, November 21st. StockNews.com upgraded shares of Farmers National Banc from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $16.67.

About Farmers National Banc

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.