Performance Trails Analyst Expectations Amid Economic Challenges
Farmers National (FMNB) delivered earnings and revenue surprises of 3.03% and 5.68%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?
CANFIELD, Ohio, April 24, 2024--Farmers National Banc Corp. ("Farmers" or the "Company") (NASDAQ: FMNB) reported net income of $11.2 million, or $0.30 per diluted share, for the three months ended March 31, 2024, compared to $7.1 million, or $0.19 per diluted share, for the three months ended March 31, 2023. Net income for the first quarter of 2024 included a pretax item of $2.1 million for the loss on the sale of investment securities. Excluding this item (non-GAAP), net income for the first qu