Investment Partners LTD. lessened its position in shares of Farmers National Banc Corp (NASDAQ:FMNB) by 89.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,094 shares of the bank’s stock after selling 149,996 shares during the period. Farmers National Banc accounts for 1.1% of Investment Partners LTD.’s investment portfolio, making the stock its 23rd largest position. Investment Partners LTD. owned about 0.07% of Farmers National Banc worth $2,074,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of FMNB. BlackRock Inc. lifted its holdings in Farmers National Banc by 2.2% during the 2nd quarter. BlackRock Inc. now owns 1,329,555 shares of the bank’s stock worth $21,208,000 after purchasing an additional 29,177 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Farmers National Banc by 12.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 614,312 shares of the bank’s stock worth $9,798,000 after purchasing an additional 69,990 shares in the last quarter. Maltese Capital Management LLC lifted its holdings in Farmers National Banc by 88.5% during the 2nd quarter. Maltese Capital Management LLC now owns 458,100 shares of the bank’s stock worth $7,307,000 after purchasing an additional 215,031 shares in the last quarter. Farmers Trust Co. lifted its holdings in Farmers National Banc by 6.6% during the 3rd quarter. Farmers Trust Co. now owns 256,689 shares of the bank’s stock worth $3,928,000 after purchasing an additional 15,859 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Farmers National Banc by 10.3% during the 2nd quarter. Renaissance Technologies LLC now owns 208,500 shares of the bank’s stock worth $3,326,000 after purchasing an additional 19,400 shares in the last quarter. 35.63% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on FMNB. Zacks Investment Research raised Farmers National Banc from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Friday, July 20th. BidaskClub lowered Farmers National Banc from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th. ValuEngine lowered Farmers National Banc from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Finally, Raymond James decreased their target price on Farmers National Banc from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $17.00.
Farmers National Banc (NASDAQ:FMNB) last announced its earnings results on Wednesday, October 24th. The bank reported $0.29 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.29. The business had revenue of $26.40 million for the quarter, compared to analyst estimates of $26.80 million. Farmers National Banc had a return on equity of 12.68% and a net margin of 25.71%. As a group, research analysts anticipate that Farmers National Banc Corp will post 1.14 EPS for the current fiscal year.
In other Farmers National Banc news, Director Edward Muransky bought 3,000 shares of the firm’s stock in a transaction on Friday, October 26th. The shares were acquired at an average cost of $13.29 per share, for a total transaction of $39,870.00. Following the purchase, the director now directly owns 20,246 shares of the company’s stock, valued at $269,069.34. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders acquired a total of 8,095 shares of company stock worth $120,457 over the last 90 days. Corporate insiders own 9.11% of the company’s stock.
About Farmers National Banc
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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