Empowered Funds LLC Increases Stock Position in Farmers National Banc Corp. $FMNB

by · The Markets Daily

Empowered Funds LLC boosted its position in shares of Farmers National Banc Corp. (NASDAQ:FMNBFree Report) by 48.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 213,093 shares of the bank’s stock after acquiring an additional 69,365 shares during the period. Empowered Funds LLC’s holdings in Farmers National Banc were worth $2,804,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its position in Farmers National Banc by 17.0% during the first quarter. The Manufacturers Life Insurance Company now owns 470,132 shares of the bank’s stock worth $6,187,000 after acquiring an additional 68,445 shares during the period. Quantinno Capital Management LP boosted its stake in Farmers National Banc by 91.0% during the first quarter. Quantinno Capital Management LP now owns 59,150 shares of the bank’s stock worth $778,000 after buying an additional 28,179 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Farmers National Banc by 411.4% in the 1st quarter. Renaissance Technologies LLC now owns 55,149 shares of the bank’s stock valued at $726,000 after purchasing an additional 44,365 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Farmers National Banc by 38.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 89,758 shares of the bank’s stock valued at $1,181,000 after purchasing an additional 25,042 shares during the period. Finally, Sei Investments Co. lifted its stake in Farmers National Banc by 214.5% during the first quarter. Sei Investments Co. now owns 46,081 shares of the bank’s stock worth $606,000 after purchasing an additional 31,429 shares in the last quarter. Hedge funds and other institutional investors own 38.72% of the company’s stock.

Insider Buying and Selling

In other Farmers National Banc news, Director Michael C. Voinovich sold 23,309 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $14.21, for a total transaction of $331,220.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.50% of the company’s stock.

Farmers National Banc Stock Performance

Shares of FMNB stock opened at $15.99 on Wednesday. The stock’s 50-day moving average price is $14.63 and its 200 day moving average price is $13.86. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $946.93 million, a PE ratio of 10.88 and a beta of 0.76. Farmers National Banc Corp. has a 52-week low of $12.12 and a 52-week high of $16.16.

Farmers National Banc (NASDAQ:FMNBGet Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The business had revenue of $70.44 million for the quarter, compared to analyst estimates of $70.10 million. Farmers National Banc had a net margin of 20.52% and a return on equity of 13.14%. As a group, equities research analysts forecast that Farmers National Banc Corp. will post 1.68 EPS for the current year.

Farmers National Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 12th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, June 12th. Farmers National Banc’s dividend payout ratio is 46.26%.

Analyst Ratings Changes

Several equities analysts have weighed in on FMNB shares. Piper Sandler lifted their target price on Farmers National Banc from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, April 23rd. Wall Street Zen downgraded Farmers National Banc from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Weiss Ratings raised Farmers National Banc from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $16.00.

Check Out Our Latest Stock Report on Farmers National Banc

Farmers National Banc Profile

(Free Report)

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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