Farmers National Banc (NASDAQ:FMNB) Stock Price Down 4.5% Following Weak Earnings

Farmers National Banc Corp. (NASDAQ:FMNB)’s share price fell 4.5% during trading on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $14.25 and last traded at $14.25. 8,181 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 93,832 shares. The stock had previously closed at $14.92.

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 net margin of 19.50% and a return on equity of 14.55%.

Farmers National Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.91%. The ex-dividend date was Friday, September 13th. Farmers National Banc’s payout ratio is currently 46.90%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FMNB shares. Raymond James upped their target price on Farmers National Banc from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $15.00 target price (up from $14.00) on shares of Farmers National Banc in a research note on Thursday, July 25th. Finally, StockNews.com upgraded shares of Farmers National Banc from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.67.

Insiders Place Their Bets

In other news, EVP Timothy F. Shaffer sold 1,799 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $15.00, for a total value of $26,985.00. Following the sale, the executive vice president now directly owns 35,282 shares of the company’s stock, valued at approximately $529,230. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Mark J. Wenick sold 2,000 shares of Farmers National Banc stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $15.88, for a total value of $31,760.00. Following the completion of the sale, the executive vice president now directly owns 27,116 shares of the company’s stock, valued at approximately $430,602.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy F. Shaffer sold 1,799 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $15.00, for a total value of $26,985.00. Following the transaction, the executive vice president now directly owns 35,282 shares in the company, valued at approximately $529,230. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Farmers National Banc

Several institutional investors have recently modified their holdings of the business. Twelve Points Wealth Management LLC grew its stake in Farmers National Banc by 8.0% during the 3rd quarter. Twelve Points Wealth Management LLC now owns 58,614 shares of the bank’s stock worth $886,000 after purchasing an additional 4,345 shares in the last quarter. Creative Planning lifted its stake in Farmers National Banc by 46.0% in the third quarter. Creative Planning now owns 36,306 shares of the bank’s stock worth $549,000 after acquiring an additional 11,447 shares during the last quarter. Farmers Trust Co. grew its holdings in Farmers National Banc by 5.0% during the 3rd quarter. Farmers Trust Co. now owns 416,520 shares of the bank’s stock worth $6,298,000 after acquiring an additional 19,778 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Farmers National Banc in the 3rd quarter valued at $214,000. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Farmers National Banc by 8.1% during the second quarter. Cubist Systematic Strategies LLC now owns 13,245 shares of the bank’s stock worth $165,000 after purchasing an additional 997 shares in the last quarter. Institutional investors and hedge funds own 38.72% of the company’s stock.

Farmers National Banc Stock Performance

The company has a market capitalization of $520.44 million, a price-to-earnings ratio of 9.56 and a beta of 0.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a 50 day simple moving average of $14.88 and a two-hundred day simple moving average of $13.55.

Farmers National Banc Company Profile

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.