Farmers National Banc Corp. (FMNB) Position Cut by Kennedy Capital Management Inc.
Kennedy Capital Management Inc. lessened its stake in Farmers National Banc Corp. (NASDAQ:FMNB) by 73.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 133,249 shares of the bank’s stock after selling 364,752 shares during the period. Kennedy Capital Management Inc. owned 0.49% of Farmers National Banc Corp. worth $1,932,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. bought a new position in Farmers National Banc Corp. in the 2nd quarter valued at about $141,000. Prudential Financial Inc. grew its position in Farmers National Banc Corp. by 0.9% in the 1st quarter. Prudential Financial Inc. now owns 11,810 shares of the bank’s stock valued at $169,000 after buying an additional 100 shares in the last quarter. Menta Capital LLC bought a new position in Farmers National Banc Corp. in the 1st quarter valued at about $174,000. O Shaughnessy Asset Management LLC grew its position in Farmers National Banc Corp. by 206.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 13,114 shares of the bank’s stock valued at $188,000 after buying an additional 8,836 shares in the last quarter. Finally, American International Group Inc. grew its position in Farmers National Banc Corp. by 7.1% in the 1st quarter. American International Group Inc. now owns 15,312 shares of the bank’s stock valued at $220,000 after buying an additional 1,020 shares in the last quarter. Hedge funds and other institutional investors own 34.34% of the company’s stock.
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A number of brokerages recently issued reports on FMNB. BidaskClub lowered shares of Farmers National Banc Corp. from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $16.00 target price on shares of Farmers National Banc Corp. in a research report on Thursday, July 27th. Finally, Zacks Investment Research upgraded shares of Farmers National Banc Corp. from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $16.50.
In other news, insider Mark J. Wenick acquired 2,200 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was purchased at an average cost of $14.10 per share, with a total value of $31,020.00. Following the acquisition, the insider now owns 8,690 shares of the company’s stock, valued at approximately $122,529. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 4,709 shares of company stock valued at $65,468 over the last three months. Company insiders own 7.80% of the company’s stock.
Farmers National Banc Corp. (NASDAQ:FMNB) opened at 13.90 on Wednesday. The stock’s 50 day moving average is $13.50 and its 200 day moving average is $13.92. Farmers National Banc Corp. has a 52-week low of $9.98 and a 52-week high of $15.50. The company has a market cap of $376.38 million, a price-to-earnings ratio of 17.08 and a beta of 0.46.
Farmers National Banc Corp. (NASDAQ:FMNB) last announced its quarterly earnings data on Wednesday, July 26th. The bank reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.01). The firm had revenue of $24.43 million for the quarter, compared to the consensus estimate of $24.80 million. Farmers National Banc Corp. had a return on equity of 10.25% and a net margin of 22.19%. Equities research analysts forecast that Farmers National Banc Corp. will post $0.89 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be issued a dividend of $0.06 per share. This is a boost from Farmers National Banc Corp.’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.73%. The ex-dividend date is Thursday, September 7th. Farmers National Banc Corp.’s payout ratio is currently 29.27%.
Farmers National Banc Corp. Company Profile
Farmers National Banc Corp. is a one-bank holding company. The Company’s principal business consists of owning and supervising its subsidiaries. The Company operates through tree segments: the Bank, Trust and Retirement Consulting. The Company operates principally through its subsidiaries, The Farmers National Bank of Canfield (the Bank or Farmers Bank), Farmers Trust Company (Trust or Farmers Trust), National Associates, Inc (NAI) and Farmers National Captive, Inc (Captive).
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