Legal & General Group Plc Buys Shares of 44,273 Farmers National Banc Corp. $FMNB

Legal & General Group Plc purchased a new stake in Farmers National Banc Corp. (NASDAQ:FMNB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 44,273 shares of the bank’s stock, valued at approximately $646,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. grew its position in Farmers National Banc by 13.5% in the second quarter. BlackRock Inc. now owns 4,798,011 shares of the bank’s stock worth $70,051,000 after acquiring an additional 569,057 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of Farmers National Banc during the 2nd quarter worth $6,827,000. Dimensional Fund Advisors LP grew its holdings in shares of 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 purchasing an additional 302,397 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Farmers National Banc during the 1st quarter worth about $2,954,000. Finally, Marshall Wace LLP purchased a new stake in Farmers National Banc in the 4th quarter valued at about $2,707,000. Hedge funds and other institutional investors own 38.72% of the company’s stock.

Analysts Set New Price Targets

FMNB has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Farmers National Banc from a “hold” rating to a “buy” rating in a research report on Sunday, August 30th. Weiss Ratings raised Farmers National Banc from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.00.

Farmers National Banc Trading Down 1.5%

NASDAQ:FMNB opened at $15.83 on Wednesday. Farmers National Banc Corp. has a 12-month low of $12.12 and a 12-month high of $16.46. The firm has a market cap of $937.93 million, a PE ratio of 10.77 and a beta of 0.76. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average price of $15.39 and a 200 day moving average price of $14.30.

Farmers National Banc (NASDAQ:FMNB) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. Farmers National Banc had a return on equity of 12.03% and a net margin of 20.52%.The business had revenue of $70.44 million during the quarter, compared to analysts’ expectations of $70.10 million. Sell-side analysts anticipate that Farmers National Banc Corp. will post 1.68 earnings per share for the current fiscal year.

Farmers National Banc Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be paid a $0.18 dividend. This is an increase from Farmers National Banc’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Friday, September 11th. Farmers National Banc’s payout ratio is presently 46.26%.

Insider Activity at Farmers National Banc

In related news, Director Michael C. Voinovich sold 23,309 shares of the business’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark J. Wenick sold 5,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $511,359.40. This trade represents a 13.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.50% of the company’s stock.

Farmers National Banc Company 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.