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

PNC Financial Services Group Inc. has lowered its shareholding in Farmers National Banc Corp. (NASDAQ:FMNB) by 2.2% during the third quarter, as indicated in its latest filing with the Securities and Exchange Commission (SEC). Following this adjustment, PNC holds a total of 61,054 shares of the bank's stock after selling 1,376 shares in that quarter. As per the recent SEC filing, the value of PNC's holdings in Farmers National Banc stands at $923,000.

Other significant investors have also made changes to their stakes in FMNB. Los Angeles Capital Management LLC established a new position in Farmers National Banc, valued at approximately $311,000 during the third quarter. In the same period, Farmers Trust Co. increased its holdings by 5.0%, acquiring an additional 19,778 shares, bringing its total ownership to 416,520 shares worth $6,298,000. PEAK6 Investments LLC initiated a position in the first quarter valued around $248,000, while Busey Bank and SG Americas Securities LLC purchased new stakes in the second and third quarters, valued at $224,000 and $214,000, respectively. Altogether, hedge funds and other institutional investors own 38.72% of Farmers National Banc stock.

Analyst Ratings Review

Recent comments from equities research analysts provide insights into Farmers National Banc's stock outlook. Piper Sandler maintained a “neutral” rating and set a price target of $17.00 for the stock. StockNews.com upgraded its rating from “sell” to “hold” on November 15th. Currently, three analysts have issued a hold rating while one has given a buy rating for the company. MarketBeat's data shows that Farmers National Banc holds an average rating of “Hold” with an average price target of $16.67.

Insider Trading Activities

In related news, Timothy F. Shaffer, the Executive Vice President of Farmers National Banc, sold 1,799 shares on September 5th at an average price of $15.00, totalizing $26,985. After this sale, Shaffer retains 35,282 shares in the company, valued at approximately $529,230, marking a 4.85% reduction in his ownership. This transaction was also reported in the SEC filings. Company insiders currently hold around 4.00% of the stock.

Farmers National Banc Stock Performance

On Friday, FMNB shares opened at $15.69. The company has a 50-day moving average of $14.84 and a 200-day moving average of $14.03. Farmers National Banc has seen a low of $11.55 and a high of $16.32 over the past year. The stock's market capitalization is at $589.79 million, with a P/E ratio of 12.76 and beta of 0.83. The company's debt-to-equity ratio is 0.20, and both its quick and current ratios are at 0.74.

The latest quarterly earnings report from Farmers National Banc was released on October 23rd. The bank reported earnings per share (EPS) of $0.23, which fell short of the consensus estimate of $0.35 by $0.12. Revenues were reported at $70.26 million, exceeding the estimated $42.90 million. Farmers National Banc has a return on equity of 11.92% and a net margin of 17.26%. Analysts estimate that Farmers National Banc Corp. will achieve earnings of $1.23 per share for the current fiscal year.

Dividend Announcement by Farmers National Banc

Recently, Farmers National Banc announced a quarterly dividend, which is scheduled for payment on Tuesday, December 31st. Stockholders of record on December 13th will receive a dividend of $0.17 per share, equating to an annualized dividend of $0.68 and a yield of 4.33%. The company's dividend payout ratio (DPR) stands at 55.28%.

Company Overview

Farmers National Banc Corp. operates as a bank holding company for The Farmers National Bank of Canfield, providing a range of services that include banking, trust, retirement consulting, insurance, and financial management. The bank delivers various financial services, such as checking and savings accounts, loans, and investment options.

PNC, Investment, Bancorp