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

In the third quarter, PNC Financial Services Group Inc. made a minor adjustment to its investment in Farmers National Banc Corp. (NASDAQ:FMNB). According to their latest filing with the Securities and Exchange Commission (SEC), PNC cut its stake by 2.2%. After selling 1,376 shares during this period, the firm now holds 61,054 shares of Farmers National Banc stock, valued at approximately $923,000.

Other large investors have also made changes to their positions in FMNB recently. For instance, Los Angeles Capital Management LLC acquired a new stake in Farmers National Banc valued at around $311,000 during the third quarter. Additionally, Farmers Trust Co. increased its stake by 5.0%, now owning 416,520 shares worth $6,298,000 after purchasing 19,778 shares. PEAK6 Investments LLC and Busey Bank also entered new positions in Farmers National Banc during the first and second quarters, respectively, amounting to about $248,000 and $224,000. In total, institutional investors, including hedge funds, own 38.72% of Farmers National Banc's stock.

Analyst Perspectives

Recent evaluations from equity research analysts regarding Farmers National Banc have shown some consensus. Piper Sandler reiterated a "neutral" rating and set a price target of $17.00 for the shares, according to a report released on November 21. Meanwhile, StockNews.com raised its rating from "sell" to "hold" on November 15. Among the analysts, three have assigned a hold rating, while one has given a buy rating. Currently, Farmers National Banc holds an average rating of "Hold" and the average price target is approximately $16.67.

Insider Activity

There have also been notable transactions among the company’s insiders. On September 5, EVP Timothy F. Shaffer sold 1,799 shares at an average price of $15.00, completing a total transaction worth $26,985. Following this sale, Shaffer holds 35,282 shares of the company, which are valued at around $529,230. This sale led to a 4.85% reduction in Shaffer's total shareholding. Company insiders collectively own about 4.00% of the stock.

Stock Performance Overview

Shares of Farmers National Banc opened at $15.69 on a recent Friday. The stock has achieved a 50-day moving average of $14.84, and a 200-day moving average of $14.03. Over the past year, the share price has seen a low of $11.55 and a high of $16.32. Presently, Farmers National Banc Corp. holds a market capitalization of $589.79 million, with a price-to-earnings (P/E) ratio of 12.76 and a beta of 0.83. Financial ratios indicate a debt-to-equity ratio of 0.20, and both quick and current ratios of 0.74.

On October 23, Farmers National Banc reported its quarterly earnings, revealing earnings of $0.23 per share, which fell short of the consensus estimate of $0.35 by $0.12. The company generated revenue of $70.26 million against a forecast of $42.90 million. With a return on equity of 11.92% and a net margin of 17.26%, analysts anticipate that Farmers National Banc will post earnings of 1.23 per share for the current fiscal year.

Dividend Information

In recent news, Farmers National Banc announced a quarterly dividend that will be distributed on December 31. Shareholders on record by December 13 will receive a dividend of $0.17 per share, which translates to an annualized dividend of $0.68 and yields approximately 4.33%. The company’s dividend payout ratio stands at 55.28%.

About Farmers National Banc

Farmers National Banc Corp. operates as the bank holding company for The Farmers National Bank of Canfield, providing various services in banking, trust, retirement consulting, insurance, and financial management. Its offerings include commercial and retail banking services, featuring checking and savings accounts, a variety of loans, and other financial services.

PNC, Investors, Financial