Geode Capital Management LLC Buys 42,803 Shares of Farmers National Banc Corp. $FMNB

Geode Capital Management LLC grew its stake in shares of Farmers National Banc Corp. (NASDAQ:FMNB) by 4.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 917,657 shares of the bank’s stock after acquiring an additional 42,803 shares during the period. Geode Capital Management LLC owned about 2.44% of Farmers National Banc worth $12,657,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC purchased a new position in Farmers National Banc in the first quarter valued at approximately $1,908,000. Nuveen LLC bought a new stake in shares of Farmers National Banc in the first quarter valued at $1,144,000. Cetera Investment Advisers lifted its position in shares of Farmers National Banc by 12.2% during the 1st quarter. Cetera Investment Advisers now owns 83,793 shares of the bank’s stock valued at $1,094,000 after buying an additional 9,142 shares during the last quarter. Twelve Points Wealth Management LLC grew its stake in shares of Farmers National Banc by 4.4% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 77,104 shares of the bank’s stock worth $1,063,000 after acquiring an additional 3,266 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Farmers National Banc during the 1st quarter worth $830,000. Institutional investors own 38.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FMNB shares. Zacks Research downgraded shares of Farmers National Banc from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of Farmers National Banc in a research report on Monday. Finally, Piper Sandler began coverage on shares of Farmers National Banc in a report on Friday, November 21st. They issued a “neutral” rating and a $14.00 price objective for the company. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Farmers National Banc currently has an average rating of “Hold” and an average price target of $14.50.

Farmers National Banc Trading Down 0.5%

Shares of Farmers National Banc stock opened at $13.55 on Wednesday. The company’s 50-day moving average price is $13.63 and its 200-day moving average price is $13.85. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.19. Farmers National Banc Corp. has a 12-month low of $11.58 and a 12-month high of $16.07. The company has a market cap of $510.16 million, a price-to-earnings ratio of 9.41 and a beta of 0.86.

Farmers National Banc (NASDAQ:FMNB) last posted its earnings results on Wednesday, October 22nd. The bank reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. Farmers National Banc had a net margin of 19.57% and a return on equity of 13.49%. The business had revenue of $47.74 million for the quarter, compared to analyst estimates of $48.00 million. On average, equities analysts expect that Farmers National Banc Corp. will post 1.45 earnings per share for the current fiscal year.

Farmers National Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 12th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Friday, December 12th. Farmers National Banc’s dividend payout ratio (DPR) is 47.22%.

Insider Transactions at Farmers National Banc

In other Farmers National Banc news, Director Edward Muransky bought 73,500 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were acquired at an average cost of $13.59 per share, for a total transaction of $998,865.00. Following the purchase, the director directly owned 110,706 shares of the company’s stock, valued at $1,504,494.54. The trade was a 197.55% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.90% of the company’s stock.

About Farmers National Banc

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.