Farmers National Banc Corp. (NASDAQ:FMNB) Sees Significant Growth in Short Interest

by · The Markets Daily

Farmers National Banc Corp. (NASDAQ:FMNB – Get Free Report) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 294,900 shares, a growth of 14.1% from the September 30th total of 258,400 shares. Based on an average trading volume of 87,300 shares, the days-to-cover ratio is presently 3.4 days.

Insider Transactions at Farmers National Banc

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 transaction, the executive vice president now owns 35,282 shares in the company, valued at approximately $529,230. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cubist Systematic Strategies LLC grew its holdings in Farmers National Banc by 8.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 13,245 shares of the bank’s stock valued at $165,000 after buying an additional 997 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Farmers National Banc during the first quarter valued at approximately $140,000. Inspire Investing LLC increased its holdings in Farmers National Banc by 6.0% during the 2nd quarter. Inspire Investing LLC now owns 28,564 shares of the bank’s stock worth $357,000 after acquiring an additional 1,625 shares during the period. EntryPoint Capital LLC purchased a new stake in Farmers National Banc in the 1st quarter worth approximately $73,000. Finally, Farmers Trust Co. grew its position in shares of Farmers National Banc by 5.0% during the 3rd quarter. Farmers Trust Co. now owns 416,520 shares of the bank’s stock valued at $6,298,000 after purchasing an additional 19,778 shares in the last quarter. 38.72% of the stock is owned by institutional investors.

Farmers National Banc Stock Performance

Shares of Farmers National Banc stock traded down $0.04 during trading hours on Thursday, hitting $13.86. 22,898 shares of the company’s stock traded hands, compared to its average volume of 94,018. The company has a fifty day simple moving average of $14.84 and a 200-day simple moving average of $13.60. 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 market capitalization of $520.44 million, a price-to-earnings ratio of 9.59 and a beta of 0.82. Farmers National Banc has a 12-month low of $10.87 and a 12-month high of $16.32.

Farmers National Banc (NASDAQ:FMNB – Get Free Report) last released its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). Farmers National Banc had a return on equity of 14.55% and a net margin of 19.50%. The firm had revenue of $70.26 million during the quarter, compared to analysts’ expectations of $42.90 million. Equities research analysts anticipate that Farmers National Banc will post 1.36 EPS for the current fiscal year.

Farmers National Banc Dividend Announcement

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

Analyst Upgrades and Downgrades

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

View Our Latest Analysis on FMNB

About Farmers National Banc

(Get Free Report)

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.

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