Dimensional Fund Advisors LP raised its position in Farmers National Banc Corp. (NASDAQ:FMNB – Free Report) by 24.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,539,834 shares of the bank’s stock after buying an additional 302,397 shares during the quarter. Dimensional Fund Advisors LP owned about 4.08% of Farmers National Banc worth $20,264,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC grew its stake in shares of Farmers National Banc by 86.1% during the 1st quarter. Parallel Advisors LLC now owns 2,784 shares of the bank’s stock worth $37,000 after acquiring an additional 1,288 shares during the period. Swiss National Bank lifted its holdings in Farmers National Banc by 48.1% during the first quarter. Swiss National Bank now owns 109,987 shares of the bank’s stock valued at $1,447,000 after purchasing an additional 35,700 shares during the last quarter. Frazier Financial Advisors LLC purchased a new stake in Farmers National Banc during the first quarter valued at about $163,000. Bank of New York Mellon Corp boosted its position in Farmers National Banc by 21.9% during the first quarter. Bank of New York Mellon Corp now owns 337,929 shares of the bank’s stock worth $4,447,000 after purchasing an additional 60,820 shares during the period. Finally, Fifth Third Bancorp bought a new position in Farmers National Banc during the first quarter worth about $251,000. Hedge funds and other institutional investors own 38.72% of the company’s stock.
Insider Activity
In other Farmers National Banc news, EVP Mark J. Wenick sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $15.97, for a total value of $79,850.00. Following the sale, the executive vice president owned 32,020 shares of the company’s stock, valued at $511,359.40. This trade represents a 13.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael C. Voinovich sold 23,309 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $14.21, for a total value of $331,220.89. The disclosure for this sale is available in the SEC filing. Company insiders own 3.50% of the company’s stock.
Farmers National Banc Stock Performance
Farmers National Banc (NASDAQ:FMNB – Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Farmers National Banc had a net margin of 20.52% and a return on equity of 13.14%. The firm had revenue of $70.44 million during the quarter, compared to analyst estimates of $70.10 million. Analysts predict that Farmers National Banc Corp. will post 1.68 earnings per share for the current fiscal year.
Farmers National Banc Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 12th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.3%. The ex-dividend date was Friday, June 12th. Farmers National Banc’s payout ratio is presently 46.26%.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Farmers National Banc from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Weiss Ratings upgraded shares of Farmers National Banc from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Finally, Piper Sandler raised their price objective on shares of Farmers National Banc from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $16.00.
Read Our Latest Report on Farmers National Banc
Farmers National Banc Profile
Farmers National Banc Corp. operates as the bank holding company for Farmers National Bank, a community-oriented financial institution headquartered in Ada, Ohio. The company provides a comprehensive suite of banking services through a network of branches serving rural and small-town markets across central Ohio. Its local decision-making model emphasizes personalized customer service and close ties to the communities it serves.
The company’s primary business activities include the origination of commercial loans, consumer installment loans, agricultural financing, and residential mortgages.
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