Panagora Asset Management Inc. purchased a new stake in Farmers National Banc Corp (NASDAQ:FMNB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,111 shares of the bank’s stock, valued at approximately $550,000. Panagora Asset Management Inc. owned approximately 0.13% of Farmers National Banc at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of FMNB. Bank of New York Mellon Corp raised its position in Farmers National Banc by 5.0% in the fourth quarter. Bank of New York Mellon Corp now owns 116,112 shares of the bank’s stock valued at $1,479,000 after purchasing an additional 5,550 shares during the last quarter. Geode Capital Management LLC raised its position in Farmers National Banc by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 284,594 shares of the bank’s stock valued at $3,625,000 after purchasing an additional 13,145 shares during the last quarter. Bank of America Corp DE raised its position in Farmers National Banc by 70.4% in the fourth quarter. Bank of America Corp DE now owns 106,873 shares of the bank’s stock valued at $1,361,000 after purchasing an additional 44,168 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Farmers National Banc by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 699,260 shares of the bank’s stock valued at $8,908,000 after buying an additional 35,070 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Farmers National Banc by 509.3% in the first quarter. BNP Paribas Arbitrage SA now owns 5,301 shares of the bank’s stock valued at $73,000 after buying an additional 4,431 shares during the period. 38.16% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ FMNB traded down $0.32 during trading hours on Friday, hitting $13.44. 1,228 shares of the company’s stock were exchanged, compared to its average volume of 34,677. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.02. Farmers National Banc Corp has a 1-year low of $11.56 and a 1-year high of $16.05. The stock has a 50-day simple moving average of $14.33 and a 200 day simple moving average of $14.24. The firm has a market cap of $381.53 million, a price-to-earnings ratio of 11.85 and a beta of 0.83.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Thursday, September 12th. This is a boost from Farmers National Banc’s previous quarterly dividend of $0.09. Farmers National Banc’s dividend payout ratio (DPR) is 31.30%.
Several brokerages have recently weighed in on FMNB. Boenning Scattergood reissued a “buy” rating and issued a $15.50 price target on shares of Farmers National Banc in a research note on Wednesday, July 31st. Zacks Investment Research raised Farmers National Banc from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Raymond James raised their target price on Farmers National Banc from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. BidaskClub cut Farmers National Banc from a “hold” rating to a “sell” rating in a research note on Friday, August 16th. Finally, ValuEngine cut Farmers National Banc from a “hold” rating to a “sell” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. Farmers National Banc has an average rating of “Hold” and an average target price of $15.50.
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, MasterCard and Visa credit cards, brokerage, and other services.
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