Farmers National Banc Corp. (NASDAQ:FMNB) Sees Large Decrease in Short Interest

Farmers National Banc Corp. (NASDAQ:FMNB) was the target of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 240,700 shares, a drop of 5.7% from the November 15th total of 255,300 shares. Based on an average trading volume of 83,800 shares, the days-to-cover ratio is presently 2.9 days.

Hedge Funds Weigh In On Farmers National Banc

A number of large investors have recently modified their holdings of the business. State Street Corp boosted its position in Farmers National Banc by 3.5% during the third quarter. State Street Corp now owns 849,499 shares of the bank’s stock valued at $12,844,000 after purchasing an additional 28,499 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Farmers National Banc by 5.5% during the 3rd quarter. Geode Capital Management LLC now owns 846,454 shares of the bank’s stock worth $12,802,000 after purchasing an additional 44,349 shares in the last quarter. Farmers Trust Co. grew its stake in shares of Farmers National Banc by 5.0% in the third quarter. Farmers Trust Co. now owns 416,520 shares of the bank’s stock valued at $6,298,000 after buying an additional 19,778 shares in the last quarter. American Century Companies Inc. increased its holdings in Farmers National Banc by 2.9% during the second quarter. American Century Companies Inc. now owns 300,777 shares of the bank’s stock worth $3,757,000 after buying an additional 8,525 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Farmers National Banc by 5.7% during the second quarter. Bank of New York Mellon Corp now owns 226,896 shares of the bank’s stock worth $2,834,000 after acquiring an additional 12,160 shares in the last quarter. 38.72% of the stock is currently owned by institutional investors and hedge funds.

Farmers National Banc Stock Down 2.3 %

FMNB stock opened at $15.21 on Wednesday. The stock has a market capitalization of $571.71 million, a P/E ratio of 12.37 and a beta of 0.86. The business has a 50-day moving average of $15.09 and a 200-day moving average of $14.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.74 and a quick ratio of 0.74. Farmers National Banc has a fifty-two week low of $11.55 and a fifty-two week high of $16.32.

Farmers National Banc (NASDAQ:FMNB) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $42.90 million. On average, sell-side analysts anticipate that Farmers National Banc will post 1.23 earnings per share for the current fiscal year.

Farmers National Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, December 13th. This represents a $0.68 annualized dividend and a yield of 4.47%. Farmers National Banc’s dividend payout ratio (DPR) is presently 55.28%.

Analyst Upgrades and Downgrades

FMNB has been the subject of several research analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $17.00 price objective on shares of Farmers National Banc in a research report on Thursday, November 21st. StockNews.com lowered shares of Farmers National Banc from a “hold” rating to a “sell” rating in a research note on Wednesday, December 11th.

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.