Empowered Funds LLC purchased a new position in Farmers National Banc Corp. (NASDAQ:FMNB – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 229,725 shares of the bank’s stock, valued at approximately $3,354,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of FMNB. Smithfield Trust Co bought a new position in shares of Farmers National Banc in the 4th quarter worth $30,000. Godfrey Financial Associates Inc. bought a new stake in shares of Farmers National Banc during the 4th quarter worth $37,000. Parallel Advisors LLC lifted its holdings 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 last quarter. Russell Investments Group Ltd. grew its position in Farmers National Banc by 9,065.7% in the third quarter. Russell Investments Group Ltd. now owns 3,208 shares of the bank’s stock worth $46,000 after acquiring an additional 3,173 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Farmers National Banc by 49.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,519 shares of the bank’s stock worth $62,000 after acquiring an additional 1,487 shares in the last quarter. Hedge funds and other institutional investors own 38.72% of the company’s stock.
Insiders Place Their Bets
In related news, Director Michael C. Voinovich sold 23,309 shares of Farmers National Banc stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $14.21, for a total value of $331,220.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark J. Wenick sold 5,000 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $15.97, for a total transaction of $79,850.00. Following the completion of the sale, the executive vice president directly owned 32,020 shares of the company’s stock, valued at $511,359.40. This represents a 13.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.50% of the stock is owned by company insiders.
Farmers National Banc Stock Down 1.5%
Farmers National Banc (NASDAQ:FMNB – Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. The firm had revenue of $70.44 million for the quarter, compared to the consensus estimate of $70.10 million. Farmers National Banc had a net margin of 20.52% and a return on equity of 12.03%. As a group, analysts expect that Farmers National Banc Corp. will post 1.68 EPS for the current fiscal year.
Farmers National Banc Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.72 annualized dividend and a dividend yield of 4.7%. This is an increase from Farmers National Banc’s previous quarterly dividend of $0.17. Farmers National Banc’s payout ratio is 46.26%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on FMNB shares. Wall Street Zen raised Farmers National Banc from a “hold” rating to a “buy” rating in a research note on Sunday. Weiss Ratings raised Farmers National Banc from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Farmers National Banc presently has an average rating of “Hold” and an average price target of $16.00.
Get Our Latest Report on Farmers National Banc
Farmers National Banc Company 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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