The Manufacturers Life Insurance Company Buys New Position in Farmers National Banc Corp. $FMNB

The Manufacturers Life Insurance Company purchased a new stake in Farmers National Banc Corp. (NASDAQ:FMNB) in the second quarter, HoldingsChannel.com reports. The firm purchased 467,600 shares of the bank’s stock, valued at approximately $6,827,000.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Farmers National Banc by 13.5% in the 2nd quarter. BlackRock Inc. now owns 4,798,011 shares of the bank’s stock valued at $70,051,000 after purchasing an additional 569,057 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Farmers National Banc by 24.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,539,834 shares of the bank’s stock valued at $20,264,000 after purchasing an additional 302,397 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Farmers National Banc during the 1st quarter valued at approximately $2,954,000. Marshall Wace LLP purchased a new position in shares of Farmers National Banc in the fourth quarter worth $2,707,000. Finally, Millennium Management LLC raised its holdings in shares of Farmers National Banc by 231.9% in the fourth quarter. Millennium Management LLC now owns 263,553 shares of the bank’s stock worth $3,511,000 after buying an additional 184,155 shares during the last quarter. Institutional investors and hedge funds own 38.72% of the company’s stock.

Analyst Ratings Changes

FMNB has been the subject of a number of research reports. Wall Street Zen raised Farmers National Banc from a “hold” rating to a “buy” rating in a research report on Sunday. Weiss Ratings raised Farmers National Banc from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.00.

Insider Buying and Selling at Farmers National Banc

In other news, EVP Mark J. Wenick sold 5,000 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were 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 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael C. Voinovich sold 23,309 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $14.21, for a total transaction of $331,220.89. The SEC filing for this sale provides additional information. Insiders own 3.50% of the company’s stock.

Farmers National Banc Price Performance

FMNB opened at $15.68 on Monday. The company has a fifty day moving average of $15.22 and a two-hundred day moving average of $14.18. The stock has a market capitalization of $929.04 million, a price-to-earnings ratio of 10.67 and a beta of 0.76. Farmers National Banc Corp. has a fifty-two week low of $12.12 and a fifty-two week high of $16.46. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.79 and a current ratio of 0.79.

Farmers National Banc (NASDAQ:FMNB) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. The business had revenue of $70.44 million during the quarter, compared to analysts’ expectations of $70.10 million. Farmers National Banc had a return on equity of 12.03% and a net margin of 20.52%. On average, research analysts expect that Farmers National Banc Corp. will post 1.68 earnings per share for the current year.

Farmers National Banc Increases Dividend

The firm 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 dividend of $0.18 per share. This is a boost from Farmers National Banc’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.72 annualized dividend and a yield of 4.6%. Farmers National Banc’s dividend payout ratio is presently 46.26%.

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.