Empowered Funds LLC Has $2.80 Million Stake in Farmers National Banc Corp. $FMNB

Key Points

• Empowered Funds LLC increased its Farmers National Banc stake by 48.3% in the first quarter, owning 213,093 shares valued at approximately $2.8 million. Institutional investors collectively hold 38.72% of the company.
• Farmers National Banc reported quarterly EPS of $0.41, beating the $0.34 consensus estimate, while revenue of $70.44 million slightly exceeded expectations. The bank maintains a $0.17 quarterly dividend, equivalent to a 4.3% yield.
• FMNB shares opened at $15.99, near their 52-week high of $16.16. Analysts have a consensus “Hold” rating with a $16.00 target price.

Empowered Funds LLC increased its position in shares of Farmers National Banc Corp. (NASDAQ:FMNB - Free Report) by 48.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 213,093 shares of the bank's stock after purchasing an additional 69,365 shares during the quarter. Empowered Funds LLC owned 0.36% of Farmers National Banc worth $2,804,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Y Intercept Hong Kong Ltd acquired a new stake in Farmers National Banc during the 1st quarter valued at approximately $1,426,000. Staley Capital Advisers Inc. increased its position in shares of Farmers National Banc by 42.8% during the first quarter. Staley Capital Advisers Inc. now owns 250,251 shares of the bank's stock valued at $3,293,000 after acquiring an additional 75,000 shares during the last quarter. Demming Financial Services Corp ADV purchased a new stake in shares of Farmers National Banc during the 1st quarter valued at approximately $796,000. Assenagon Asset Management S.A. bought a new stake in shares of Farmers National Banc during the first quarter valued at about $2,954,000. Finally, Beese Fulmer Investment Management Inc. boosted its holdings in Farmers National Banc by 11.8% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 374,090 shares of the bank's stock valued at $4,983,000 after purchasing an additional 39,539 shares during the period. Institutional investors own 38.72% of the company's stock.

Farmers National Banc Price Performance

Shares of Farmers National Banc stock opened at $15.99 on Wednesday. Farmers National Banc Corp. has a 52 week low of $12.12 and a 52 week high of $16.16. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $946.93 million, a price-to-earnings ratio of 10.88 and a beta of 0.76. The stock's 50-day simple moving average is $14.63 and its 200-day simple moving average is $13.86.

Farmers National Banc (NASDAQ:FMNB - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The bank reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.07. The firm had revenue of $70.44 million during the quarter, compared to the consensus estimate of $70.10 million. Farmers National Banc had a return on equity of 13.14% and a net margin of 20.52%. As a group, analysts expect that Farmers National Banc Corp. will post 1.68 earnings per share for the current fiscal year.

Farmers National Banc Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 12th were paid a dividend of $0.17 per share. The ex-dividend date was Friday, June 12th. This represents a $0.68 annualized dividend and a dividend yield of 4.3%. Farmers National Banc's dividend payout ratio (DPR) is currently 46.26%.

Insider Activity at Farmers National Banc

In other news, Director Michael C. Voinovich sold 23,309 shares of the business's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $14.21, for a total value of $331,220.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FMNB shares. Wall Street Zen lowered Farmers National Banc from a "buy" rating to a "hold" rating in a research note on Sunday. Weiss Ratings upgraded Farmers National Banc from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, July 28th. Finally, Piper Sandler raised their target price on shares of Farmers National Banc from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Farmers National Banc presently has a consensus rating of "Hold" and a consensus target price of $16.00.

About Farmers National Banc

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.

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