Ieq Capital LLC acquired a new position in shares of Farmers National Banc Corp. (NASDAQ:FMNB – Free Report) in the second quarter, Holdings Channel reports. The institutional investor acquired 37,794 shares of the bank’s stock, valued at approximately $552,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in Farmers National Banc by 6.4% in the first quarter. SG Americas Securities LLC now owns 15,227 shares of the bank’s stock worth $200,000 after purchasing an additional 920 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Farmers National Banc by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,652 shares of the bank’s stock worth $283,000 after buying an additional 936 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Farmers National Banc by 3.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,607 shares of the bank’s stock worth $368,000 after buying an additional 940 shares in the last quarter. HBK Sorce Advisory LLC grew its position in shares of Farmers National Banc by 2.3% during the 4th quarter. HBK Sorce Advisory LLC now owns 42,083 shares of the bank’s stock worth $569,000 after buying an additional 966 shares during the period. Finally, Fifth Third Bancorp grew its position in shares of Farmers National Banc by 5.3% during the 2nd quarter. Fifth Third Bancorp now owns 20,092 shares of the bank’s stock worth $293,000 after buying an additional 1,006 shares during the period. Institutional investors and hedge funds own 38.72% of the company’s stock.
Insider Buying and Selling
In other news, Director Michael C. Voinovich sold 23,309 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $14.21, for a total transaction of $331,220.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark J. Wenick sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $15.97, for a total value of $79,850.00. Following the completion of the transaction, the executive vice president owned 32,020 shares in the company, valued at approximately $511,359.40. The trade was a 13.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.50% of the stock is owned by corporate insiders.
Farmers National Banc Trading Down 0.6%
Farmers National Banc (NASDAQ:FMNB – Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.07. Farmers National Banc had a net margin of 20.52% and a return on equity of 12.03%. The company had revenue of $70.44 million during the quarter, compared to analyst estimates of $70.10 million. Equities research analysts predict that Farmers National Banc Corp. will post 1.68 EPS for the current year.
Farmers National Banc Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be paid a $0.18 dividend. The ex-dividend date is Friday, September 11th. This is a positive change from Farmers National Banc’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 4.6%. Farmers National Banc’s dividend payout ratio is presently 48.98%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on FMNB shares. Weiss Ratings upgraded Farmers National Banc from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Wall Street Zen downgraded shares of Farmers National Banc from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $16.00.
View Our Latest Stock Analysis on FMNB
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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