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

Farmers National Banc Corp. (NASDAQ:FMNB - Get Free Report) was the recipient of a large decline in short interest in February. As of February 28th, there was short interest totalling 219,200 shares, a decline of 18.8% from the February 13th total of 270,100 shares. Approximately 0.6% of the company's stock are short sold. Based on an average trading volume of 86,300 shares, the days-to-cover ratio is currently 2.5 days.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. StockNews.com upgraded shares of Farmers National Banc from a "sell" rating to a "hold" rating in a research note on Thursday, December 19th. Piper Sandler cut their price target on shares of Farmers National Banc from $17.00 to $16.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd.

Insider Buying and Selling

In other Farmers National Banc news, Director Ralph D. Macali sold 14,300 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $14.00, for a total transaction of $200,200.00. Following the transaction, the director now owns 48,983 shares in the company, valued at approximately $685,762. This represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gina A. Richardson purchased 2,334 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $13.75 per share, for a total transaction of $32,092.50. Following the purchase, the director now directly owns 9,896 shares in the company, valued at $136,070. This represents a 30.86 % increase in their position. The disclosure for this purchase can be found here. 4.00% of the stock is currently owned by company insiders.

Remove Ads

Institutional Trading of Farmers National Banc

A number of hedge funds have recently added to or reduced their stakes in the company. Inspire Investing LLC boosted its holdings in Farmers National Banc by 2.8% during the fourth quarter. Inspire Investing LLC now owns 28,012 shares of the bank's stock worth $398,000 after buying an additional 776 shares in the last quarter. First Trust Advisors LP boosted its holdings in Farmers National Banc by 3.5% during the fourth quarter. First Trust Advisors LP now owns 23,522 shares of the bank's stock worth $334,000 after buying an additional 789 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Farmers National Banc by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,716 shares of the bank's stock worth $295,000 after buying an additional 815 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Farmers National Banc by 11.2% during the third quarter. BNP Paribas Financial Markets now owns 8,207 shares of the bank's stock worth $124,000 after buying an additional 829 shares in the last quarter. Finally, FMR LLC boosted its holdings in Farmers National Banc by 67.7% during the third quarter. FMR LLC now owns 2,068 shares of the bank's stock worth $31,000 after buying an additional 835 shares in the last quarter. 38.72% of the stock is owned by hedge funds and other institutional investors.

Farmers National Banc Stock Performance

Shares of FMNB stock traded down $0.34 during trading hours on Friday, hitting $12.95. The company's stock had a trading volume of 396,025 shares, compared to its average volume of 82,552. The company has a 50 day moving average of $13.78 and a 200 day moving average of $14.46. The stock has a market cap of $487.11 million, a PE ratio of 10.61 and a beta of 0.86. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.20. Farmers National Banc has a 12-month low of $11.55 and a 12-month high of $16.32.

Farmers National Banc (NASDAQ:FMNB - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The bank reported $0.39 EPS for the quarter, beating the consensus estimate of $0.34 by $0.05. Farmers National Banc had a net margin of 17.05% and a return on equity of 11.71%. On average, sell-side analysts forecast that Farmers National Banc will post 1.45 EPS for the current fiscal year.

Farmers National Banc Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date is Friday, March 14th. Farmers National Banc's dividend payout ratio (DPR) is presently 55.74%.

About Farmers National Banc

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.