JPMorgan Chase & Co. Purchases 76,496 Shares of Farmers National Banc Corp. (NASDAQ:FMNB)

JPMorgan Chase & Co. raised its position in shares of Farmers National Banc Corp. (NASDAQ:FMNB) by 100.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 152,629 shares of the bank’s stock after purchasing an additional 76,496 shares during the period. JPMorgan Chase & Co. owned approximately 0.41% of Farmers National Banc worth $2,170,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Inspire Investing LLC lifted its stake in Farmers National Banc by 2.8% in the fourth quarter. Inspire Investing LLC now owns 28,012 shares of the bank’s stock worth $398,000 after purchasing an additional 776 shares during the last quarter. FMR LLC increased its holdings in shares of Farmers National Banc by 67.7% in the third quarter. FMR LLC now owns 2,068 shares of the bank’s stock worth $31,000 after buying an additional 835 shares during the period. SG Americas Securities LLC increased its holdings in shares of Farmers National Banc by 11.2% in the fourth quarter. SG Americas Securities LLC now owns 15,773 shares of the bank’s stock worth $224,000 after buying an additional 1,590 shares during the period. Rhumbline Advisers lifted its stake in shares of Farmers National Banc by 3.7% in the 4th quarter. Rhumbline Advisers now owns 56,491 shares of the bank’s stock valued at $803,000 after acquiring an additional 2,025 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in Farmers National Banc during the 4th quarter valued at about $31,000. 38.72% of the stock is currently owned by hedge funds and other institutional investors.

Farmers National Banc Stock Performance

Farmers National Banc stock opened at $13.31 on Thursday. The stock has a market cap of $500.66 million, a price-to-earnings ratio of 10.91 and a beta of 0.77. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.74 and a current ratio of 0.74. The stock’s 50 day simple moving average is $13.21 and its two-hundred day simple moving average is $14.05. Farmers National Banc Corp. has a fifty-two week low of $11.55 and a fifty-two week high of $16.32.

Farmers National Banc (NASDAQ:FMNB) last posted its quarterly earnings data on Wednesday, April 16th. The bank reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.05. The business had revenue of $44.68 million during the quarter, compared to the consensus estimate of $45.10 million. Farmers National Banc had a return on equity of 11.71% and a net margin of 17.05%. As a group, analysts expect that Farmers National Banc Corp. will post 1.45 earnings per share for the current fiscal year.

Farmers National Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.68 annualized dividend and a yield of 5.11%. Farmers National Banc’s payout ratio is presently 53.13%.

Analyst Ratings Changes

Several brokerages have weighed in on FMNB. Raymond James reiterated an “outperform” rating and issued a $15.00 price objective (down previously from $17.00) on shares of Farmers National Banc in a research report on Monday. Piper Sandler dropped their price target on shares of Farmers National Banc from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd.

Insider Activity

In related news, Director Gina A. Richardson acquired 2,334 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was acquired at an average cost of $13.75 per share, with a total value of $32,092.50. Following the acquisition, the director now directly owns 9,896 shares in the company, valued at $136,070. This represents a 30.86 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ralph D. Macali sold 14,300 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $14.00, for a total value of $200,200.00. Following the transaction, the director now owns 48,983 shares of the company’s stock, valued at approximately $685,762. The trade was a 22.60 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.

Farmers National Banc Profile

Farmers National Banc Corp. operates as a bank holding company for The Farmers National Bank of Canfield engages in the banking, trust, retirement consulting, insurance, and financial management businesses. It 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, brokerage, and other services.