Short Interest in Farmers National Banc Corp (NASDAQ:FMNB) Declines By 13.4%

Farmers National Banc Corp (NASDAQ:FMNB) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 176,000 shares, a decline of 13.4% from the September 30th total of 203,300 shares. Based on an average daily trading volume, of 35,300 shares, the short-interest ratio is presently 5.0 days. Approximately 0.7% of the shares of the stock are sold short.

A number of research firms have issued reports on FMNB. ValuEngine lowered shares of Farmers National Banc from a “hold” rating to a “sell” rating in a report on Monday, October 21st. BidaskClub upgraded shares of Farmers National Banc from a “sell” rating to a “hold” rating in a report on Saturday, October 19th. Boenning Scattergood restated a “buy” rating and issued a $15.50 target price on shares of Farmers National Banc in a report on Wednesday, July 31st. Finally, Zacks Investment Research lowered shares of Farmers National Banc from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $15.50.

Several institutional investors have recently added to or reduced their stakes in the company. First Quadrant L P CA bought a new position in Farmers National Banc during the third quarter worth $29,000. Bank of Montreal Can lifted its stake in Farmers National Banc by 84.1% during the second quarter. Bank of Montreal Can now owns 3,062 shares of the bank’s stock worth $45,000 after purchasing an additional 1,399 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Farmers National Banc by 171.3% during the third quarter. Meeder Asset Management Inc. now owns 3,765 shares of the bank’s stock worth $55,000 after purchasing an additional 2,377 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Farmers National Banc by 4,800.0% during the third quarter. Russell Investments Group Ltd. now owns 4,900 shares of the bank’s stock worth $71,000 after purchasing an additional 4,800 shares during the last quarter. Finally, Bray Capital Advisors bought a new position in Farmers National Banc during the third quarter worth $179,000. Institutional investors own 40.04% of the company’s stock.

NASDAQ:FMNB traded down $0.13 on Friday, reaching $15.22. The stock had a trading volume of 27,200 shares, compared to its average volume of 33,771. The company has a market cap of $427.76 million, a price-to-earnings ratio of 13.23 and a beta of 0.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.87. The firm’s fifty day moving average is $14.77 and its two-hundred day moving average is $14.38. Farmers National Banc has a 12-month low of $11.56 and a 12-month high of $15.63.

Farmers National Banc (NASDAQ:FMNB) last released its earnings results on Wednesday, October 23rd. The bank reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The company had revenue of $28.20 million during the quarter, compared to analysts’ expectations of $28.29 million. Farmers National Banc had a return on equity of 12.46% and a net margin of 27.11%. As a group, research analysts forecast that Farmers National Banc will post 1.25 earnings per share for the current fiscal year.

Farmers National Banc Company Profile

Farmers National Banc Corp., through its subsidiaries, operates in the banking, trust, retirement consulting, insurance, and financial management industries. The company 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, MasterCard and Visa credit cards, brokerage, and other services.

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