|Over a week ago|
Farmers National Banc reports Q1 EPS 51c, consensus 37c » 08:2004/2804/28/21
Reports Q1 tangible book…
Reports Q1 tangible book value per share $10.56. Reports Q1 CET1 capital ratio 13.67%. Reports Q1 net charge-offs .02%. Kevin Helmick, president and CEO, stated, "Our record first quarter financial results reflect the power of our diversified business model, our culture of strong asset quality, and our focus on providing our communities with local and individualized financial services. Record quarterly earnings are especially encouraging as we operate in the continuing uncertainty surrounding the economic impacts of the COVID-19 pandemic."
|Over a month ago|
Farmers National Banc upgraded to Overweight from Neutral at Piper Sandler » 06:0703/0303/03/21
Piper Sandler analyst R.…
Piper Sandler analyst R. Scott Siefers upgraded Farmers National Banc to Overweight from Neutral with a price target of $16.50, up from $15. Despite "this being a very high-quality name," the shares have visibly lagged peers over any reasonable recent lookback, Siefers tells investors in a research note. The analyst cites valuation for the upgrade.
|Over a quarter ago|
Farmers National Banc reports Q4 EPS 45c, consensus 33c » 08:0701/2801/28/21
Noninterest income increased 36.7% to $10.7 million for the quarter ended December 31, 2020 compared to $7.8 million in the same quarter in 2019. Gains on the sales of mortgage loans increased $2.4 million or 157.15%, as lower interest rates prompted an increase in mortgage loan refinancing and new home purchases. Security gains increased $151 thousand, insurance agency commissions increased $80 thousand or 11.49% and debit card interchange fees increased $139 thousand or 15.08%, but those increases were offset by a $209 thousand or 18.35% decrease in deposit account service charge income due to a change in consumer behavior during the COVID-19 pandemic. Other operating income was $204 thousand or 31.34% higher due to captive insurance company reimbursements related to the class action lawsuit settlement expense recorded in the prior year.
Farmers National Banc reports Q3 EPS 38c, consensus 32c » 08:1310/2810/28/20
Reports Q3 book value per…
Reports Q3 book value per share $12.06. Reports Q3 CET1 capital ratio 12.61%. Reports Q3 net charge-offs .04%. Kevin Helmick, president and CEO, stated, "Our record third quarter financial results demonstrate that when our customers and communities win, we win, and we remain focused on ensuring our customers are well positioned to achieve their financial goals. At the onset of the COVID-19 crisis, we helped our commercial and agricultural customers by providing relief on their loans in the form of payment deferrals. The significant decline in the balance of deferred loans reflects the diversity of our loan portfolio and our strong asset quality, and at September 30, 2020, we only had 5 loans in loan payment deferral status for a balance of only $0.8 million. In addition, we helped secure nearly $200 million for our customers in the form of PPP loans, helping protect jobs within our local communities, and we are now working with these borrowers on the forgiveness process."
Farmers National Banc resumed with an Outperform at Boenning & Scattergood » 07:4309/2409/24/20
Boenning & Scattergood analyst Joseph Plevelich initiated coverage of Farmers National Banc with an Outperform rating and $15 price target. The firm is resuming coverage of the community bank sector and has "generally positive views" on the space given that deferrals have peaked and near-term expectations are "relatively muted," although it notes that this emerging credit cycle is early innings and "could last extra innings depending upon the timing of a successful vaccine or treatment for COVID-19."
Farmers National Banc reports Q2 EPS 39c, consensus 23c » 08:0907/2907/29/20
Reports Q2 book value per…
Reports Q2 book value per share $11.76. Reports Q2 CET1 capital ratio 12.56%. Reports Q2 net charge-offs 0.08%. Net income for the six months ended June 30, 2020 was $19.7 million, or $0.69 per diluted share, compared to $16.9 million or $0.61 per diluted share for the same six month period in 2019. Return on average assets and return on average equity were 1.44% and 12.81%, respectively, for the six months ended June 30, 2020, compared to 1.45% and 12.54% for the same period in 2019. Kevin Helmick, President and CEO, stated, "For over 133 years, our success has been driven by supporting our local communities and doing what's right for our customers. This win-win spirit is more important than ever as our communities face significant uncertainties brought on by the COVID-19 pandemic. Farmers is uniquely prepared to address the current economic environment as we benefit from diverse sources of income, proactive risk management, and a proven and motivated management team. As a result, Farmers ended the quarter with record quarterly noninterest income, regulatory capital well in excess of required minimums, a tangible common equity ratio at a solid 9.86% (non-GAAP), and a second quarter dividend payout ratio of 28.15%."
Farmers National Banc announces retirement of Chief Credit Officer Mark Graham » 16:3907/0107/01/20
Mark L. Graham, currently…
Mark L. Graham, currently Executive Vice President and Chief Credit Officer of the Company, will be appointed a Special Assets Analyst effective August 1, 2020 and will retire from the Company effective December 31, 2020. "Mark Graham has been with Farmers for over 42 years in a number of key leadership roles," says Helmick. "He is admiringly known as 'Mr. Farmers' by the local business community. It is not possible for me to overstate the respect and honor with which he is held both within and outside our Bank. I am thrilled that Mark is going to stay onboard with Farmers to help us navigate through his transition to retirement. I envision calling upon him for counsel after his retirement for years to come." Mark R. Witmer, currently Senior Executive Vice President, Chief Banking Officer of the Company, will be appointed as Senior Executive Vice President, Chief Credit Officer of the Company effective August 1.
Farmers National Banc upgraded to Outperform from Market Perform at Raymond James » 09:0306/1706/17/20
Raymond James analyst…
Raymond James analyst Daniel Tamayo upgraded Farmers National Banc to Outperform from Market Perform with a $13 price target, citing an outlook for continued above-peer profitability metrics, including solid PTPPI growth from 2019 through the downturn. The analyst believes Farmers' credit risk in a downturn is also below peers.
Farmers National Banc upgraded to Outperform from Market Perform at Raymond James » 07:5106/1706/17/20
Raymond James analyst…
Raymond James analyst Daniel Tamayo upgraded Farmers National Banc to Outperform from Market Perform with a $13 price target.