Citadel Advisors LLC Buys 119,805 Shares of Farmers National Banc Corp. $FMNB

Citadel Advisors LLC increased its stake in shares of Farmers National Banc Corp. (NASDAQ:FMNB) by 39.5% during the second quarter, HoldingsChannel.com reports. The firm owned 423,186 shares of the bank’s stock after buying an additional 119,805 shares during the period. Citadel Advisors LLC’s holdings in Farmers National Banc were worth $6,179,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Farmers National Banc by 13.5% during the second quarter. BlackRock Inc. now owns 4,798,011 shares of the bank’s stock valued at $70,051,000 after buying an additional 569,057 shares during the period. Vanguard Group Inc. grew its stake in Farmers National Banc by 2.5% during the third quarter. Vanguard Group Inc. now owns 2,127,360 shares of the bank’s stock valued at $30,655,000 after acquiring an additional 52,854 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings 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 worth $20,264,000 after acquiring an additional 302,397 shares during the period. California State Teachers Retirement System increased its holdings in Farmers National Banc by 1,872.1% during the 2nd quarter. California State Teachers Retirement System now owns 1,038,396 shares of the bank’s stock worth $15,161,000 after acquiring an additional 985,742 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Farmers National Banc by 17.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 470,132 shares of the bank’s stock worth $6,187,000 after purchasing an additional 68,445 shares in the last quarter. Institutional investors own 38.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Farmers National Banc from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Wall Street Zen upgraded Farmers National Banc from a “hold” rating to a “buy” rating in a research report on Sunday, August 30th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $16.00.

Farmers National Banc Stock Performance

Shares of FMNB opened at $16.07 on Tuesday. The firm’s 50 day simple moving average is $15.37 and its 200 day simple moving average is $14.28. The company has a market capitalization of $952.15 million, a P/E ratio of 10.93 and a beta of 0.76. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.79 and a quick ratio of 0.79. Farmers National Banc Corp. has a 1-year low of $12.12 and a 1-year high of $16.46.

Farmers National Banc (NASDAQ:FMNB) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.41 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $70.44 million during the quarter, compared to analysts’ expectations of $70.10 million. Sell-side analysts forecast that Farmers National Banc Corp. will post 1.68 earnings per share for the current fiscal year.

Farmers National Banc Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.5%. This is an increase from Farmers National Banc’s previous quarterly dividend of $0.17. Farmers National Banc’s payout ratio is presently 46.26%.

Insider Buying and Selling at Farmers National Banc

In related news, Director Michael Voinovich sold 23,309 shares of the company’s 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Wenick sold 5,000 shares of the stock in a transaction 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 directly owned 32,020 shares in the company, valued at approximately $511,359.40. This represents a 13.51% decrease in their position. The SEC filing for this sale provides additional information. 3.50% of the stock is currently owned by insiders.

About Farmers National Banc

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.