News to Watch: FNCB Bancorp (NASDAQ:FNCB)

FNCB Bancorp (NASDAQ:FNCB) spotted trading -37.92% off 52-week high price. On the other end, the stock has been noted 8.27% away from the low price over the last 52-weeks. The stock changed -3.51% to recent value of $5.5. The stock transacted 14537 shares during most recent day however it has an average volume of 15.91K shares. The company has 20.19M of outstanding shares and 17.00M shares were floated in the market.  

On Oct. 30, 2020, FNCB Bancorp (NASDAQ:FNCB) the parent company of Dunmore-based FNCB Bank (the Bank), released net income of $4.1 million, or $0.20 per basic and diluted share, for the three months ended September 30, 2020, an increase of $1.7 million, or 70.9% from $2.4 million, or $0.12 per basic and diluted share, for the comparable period of 2019. The increase in earnings comparing the third quarters of 2020 and 2019 was primarily due to increases in net interest income and non-interest income, coupled with a reduction in the provision for loan and lease losses. Net income for the nine months ended September 30, 2020 totaled $10.2 million, or $0.50 per basic and diluted share, an increase of $2.6 million, or 34.3%, compared to $7.6 million, or $0.39 per basic and diluted share, for the same nine months of 2019. The increased earnings for the year-to-date period of 2020 reflected increases in net interest income and non-interest income and a decrease in non-interest expense, partially offset by an increase in the provision for loan and lease losses. Additionally, the results for the third quarter and year-to-date periods of 2020 include the effect on interest income, not including the recognition of any net origination fee income, of $118.6 million in loans originated through the Paycheck Protection Program (PPP) of United States Small Business Administration (SBA), as well as COVID-19 related expenses of approximately $199 thousand. 

For the three and nine months ended September 30, 2020, the annualized return on average assets was 1.15% and 1.03%, respectively, compared to 0.80% and 0.84%, respectively, for the same periods of 2019. The annualized return on average equity was 11.05% and 9.63%, respectively, for the three- and nine-month periods ended September 30, 2020, and 7.30% and 8.32%, respectively, for the comparable periods of 2019. Dividends declared and paid were $0.055 per share for the third quarter and $0.165 per share for the year-to-date period of 2020, a 10.0% increase compared to $0.05 per share and $0.15 per share, respectively, for the three and nine months ended September 30, 2019. The dividend pay-out ratio was 32.7% for the nine months ended September 30, 2020 and 39.8% for the comparable period of 2019. Year-to-date 2020 dividends equated to an annualized dividend yield of approximately 4.1% based on the closing stock price of $5.32 per share at September 30,

 Its earnings per share (EPS) expected to touch remained -29.50% for this year. FNCB has an operating margin of 75.90% while its profit margin remained 23.20% for the last 12 months. 

The price moved ahead of -4.46% from the mean of 20 days, -5.79% from mean of 50 days SMA and performed -11.61% from mean of 200 days price. Company’s performance for the week was -3.85%, 1.85% for month and YTD performance remained -34.91%.

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