Assenagon Asset Management S.A. Invests $2.95 Million in Farmers National Banc Corp. $FMNB

Assenagon Asset Management S.A. acquired a new stake in Farmers National Banc Corp. (NASDAQ:FMNB) in the first quarter, HoldingsChannel reports. The firm acquired 224,474 shares of the bank’s stock, valued at approximately $2,954,000.

A number of other hedge funds have also recently bought and sold shares of the company. Marshall Wace LLP purchased a new stake in Farmers National Banc in the 4th quarter worth approximately $2,707,000. Millennium Management LLC lifted its stake in shares of Farmers National Banc by 231.9% during the 4th quarter. Millennium Management LLC now owns 263,553 shares of the bank’s stock worth $3,511,000 after purchasing an additional 184,155 shares during the period. First Trust Advisors LP boosted its holdings in shares of Farmers National Banc by 454.6% during the third quarter. First Trust Advisors LP now owns 137,655 shares of the bank’s stock worth $1,984,000 after purchasing an additional 112,834 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Farmers National Banc by 139.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 190,714 shares of the bank’s stock worth $2,540,000 after purchasing an additional 111,027 shares during the last quarter. Finally, Empowered Funds LLC grew its position in shares of Farmers National Banc by 109.2% in the fourth quarter. Empowered Funds LLC now owns 143,728 shares of the bank’s stock valued at $1,914,000 after purchasing an additional 75,009 shares during the period. Institutional investors and hedge funds own 38.72% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Piper Sandler upped their target price on Farmers National Banc from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. Weiss Ratings raised Farmers National Banc from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 8th. Zacks Research upgraded Farmers National Banc from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Finally, Wall Street Zen downgraded shares of Farmers National Banc from a “buy” rating to a “hold” rating in a research note on Sunday. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Farmers National Banc has a consensus rating of “Hold” and an average price target of $16.00.

Insider Transactions at Farmers National Banc

In other Farmers National Banc news, Director Michael C. Voinovich sold 23,309 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $14.21, for a total transaction of $331,220.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.50% of the company’s stock.

Farmers National Banc Price Performance

Shares of FMNB opened at $14.60 on Wednesday. The firm has a market cap of $864.61 million, a PE ratio of 10.07 and a beta of 0.76. The company’s fifty day moving average is $14.17 and its two-hundred day moving average is $13.65. Farmers National Banc Corp. has a fifty-two week low of $12.12 and a fifty-two week high of $15.50. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.19.

Farmers National Banc (NASDAQ:FMNB) last announced its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.08. The company had revenue of $56.26 million during the quarter, compared to analysts’ expectations of $55.30 million. Farmers National Banc had a net margin of 19.55% and a return on equity of 11.99%. Analysts forecast that Farmers National Banc Corp. will post 1.62 earnings per share for the current year.

Farmers National Banc Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 12th were issued a $0.17 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.68 dividend on an annualized basis and a yield of 4.7%. Farmers National Banc’s dividend payout ratio (DPR) is presently 46.90%.

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.