Watch List Stock News: Farmers National Banc Corp. (NASDAQ: FMNB)
On 25 Oct 2019, Farmers National Banc Corp. stock identified change of 27.85% away from 52-week low price and recently located move of -2.83% off 52-week high price. It has market worth of $405.56M and dividend yield of 2.71%. FMNB stock has been recorded 4.20% away from 50 day moving average and 4.62% away from 200 day moving average. Moving closer, we can see that shares have been trading 2.65% off 20-day moving average.
Farmers National Banc Corp. (Farmers) (FMNB) recently stated financial results for the three months ended September 30, 2019.
Net income for the three months ended September 30, 2019 was $9.2M, or $0.33 per diluted share, which compares to $8.1M, or $0.29 per diluted share, for the three months ended September 30, 2018 and $8.5M or $0.31 per diluted share for the linked quarter. Annualized return on average assets and return on average equity were 1.51% and 12.49%, respectively, for the three month period ending September 30, 2019, contrast to 1.42% and 12.80% for the same three month period in 2018, and 1.45% and 12.34% for the linked quarter. Farmers’ return on average tangible equity (Non-GAAP) was 14.80% for the quarter ended September 30, 2019 contrast to 15.70% for the same quarter in 2018 and 14.59% for the linked quarter.
2019 Third Quarter Financial Highlights
- Loan growth
Total loans were $1.78B at September 30, 2019, contrast to $1.69B at September 30, 2018, representing a raise of 5.5%. The increase in loans is a direct result of Farmers’ focus on loan growth utilizing talented lending and credit team, while adhering to a sound underwriting discipline. The increase in loans has occurred in the commercial, commercial real estate, residential real estate and agricultural loan portfolios. Loans now comprise 79.3% of the Bank’s average earning assets for the quarter ended September 30, 2019, an improvement contrast to 78.8% for the same period in 2018. This improvement, together with the growth in earning assets, has resulted in a 10.5% increase in tax equated loan income in the third quarter of 2019 contrast to the same quarter in 2018. - Loan quality
Non-performing assets to total assets remain at a low level, presently at 0.28%. Early stage delinquencies also continue to remain at low levels, at $9.1M, or 0.51% of total loans, at September 30, 2019. Net charge-offs for the current quarter were $511 thousand, contrast to $337 thousand in the same quarter in 2018 and total net charge-offs as a percentage of average net loans outstanding is only 0.12% for the quarter ended September 30, 2019.
The Financial sector company, Farmers National Banc Corp. noticed change of -1.14% to $14.78 along volume of 43933 shares in recent session compared to an average volume of 37.43K. The stock observed return of 3.36% in 5 days trading activity. The stock was at 1.65% over one-month performance. FMNB’s shares are at 2.00% for the quarter and driving a 5.65% return over the course of the past year and is now at 16.01% since this point in 2018. The average volatility for the week at 2.26% and for month was at 2.04%. There are 27.44M shares outstanding and 25.31M shares are floated in market. Right now, the stock beta is 0.88.
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