First Trust Advisors LP reduced its stake in shares of Farmers National Banc Corp (NASDAQ:FMNB) by 49.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 28,818 shares of the bank’s stock after selling 27,733 shares during the period. First Trust Advisors LP owned approximately 0.10% of Farmers National Banc worth $460,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wedge Capital Management L L P NC purchased a new position in Farmers National Banc in the 2nd quarter worth $384,000. Acadian Asset Management LLC raised its position in Farmers National Banc by 245.8% in the 2nd quarter. Acadian Asset Management LLC now owns 22,140 shares of the bank’s stock worth $354,000 after purchasing an additional 15,737 shares during the period. ZPR Investment Management purchased a new position in Farmers National Banc in the 1st quarter worth $152,000. Millennium Management LLC raised its position in Farmers National Banc by 19.7% in the 1st quarter. Millennium Management LLC now owns 148,284 shares of the bank’s stock worth $2,054,000 after purchasing an additional 24,415 shares during the period. Finally, Maltese Capital Management LLC raised its position in Farmers National Banc by 287.1% in the 1st quarter. Maltese Capital Management LLC now owns 243,069 shares of the bank’s stock worth $3,367,000 after purchasing an additional 180,269 shares during the period. 35.62% of the stock is owned by institutional investors.
In other news, Director Edward Muransky acquired 4,000 shares of the firm’s stock in a transaction on Wednesday, August 29th. The shares were purchased at an average price of $15.86 per share, for a total transaction of $63,440.00. Following the completion of the transaction, the director now owns 13,044 shares of the company’s stock, valued at $206,877.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders acquired 5,065 shares of company stock worth $80,589 in the last 90 days. Corporate insiders own 9.11% of the company’s stock.
A number of brokerages recently commented on FMNB. BidaskClub cut shares of Farmers National Banc from a “hold” rating to a “sell” rating in a research report on Thursday, August 30th. Zacks Investment Research upgraded shares of Farmers National Banc from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Friday, July 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $17.00.
Shares of NASDAQ:FMNB opened at $15.40 on Monday. The firm has a market capitalization of $425.67 million, a P/E ratio of 17.11 and a beta of 0.41. Farmers National Banc Corp has a 52 week low of $12.80 and a 52 week high of $16.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.87 and a current ratio of 0.87.
Farmers National Banc (NASDAQ:FMNB) last released its quarterly earnings data on Wednesday, July 18th. The bank reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Farmers National Banc had a net margin of 24.60% and a return on equity of 11.96%. The firm had revenue of $25.87 million for the quarter, compared to analysts’ expectations of $25.90 million. equities analysts forecast that Farmers National Banc Corp will post 1.15 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be given a $0.08 dividend. This is a boost from Farmers National Banc’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.08%. Farmers National Banc’s payout ratio is presently 35.56%.
Farmers National Banc Company Profile
Farmers National Banc Corp., through its subsidiaries, operates in the banking, trust, retirement consulting, insurance, and financial management industries. The company offers commercial and retail banking services, including checking, savings, and time deposit accounts; commercial, mortgage and installment, and home equity loans; home equity lines of credit, night depository, safe deposit box, money order, bank check, automated teller machine, Internet banking, travel card, E bond transaction, credit card, brokerage, and other services.
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