Empowered Funds LLC Purchases New Position in Farmers National Banc Corp. $FMNB

Key Points

• Empowered Funds LLC acquired 229,725 shares of Farmers National Banc in the second quarter, valued at approximately $3.35 million and representing a 0.39% stake. Hedge funds and institutional investors collectively own 38.72% of the company.
• Farmers National Banc reported quarterly EPS of $0.41, beating estimates of $0.34, while revenue reached $70.44 million. The bank also raised its quarterly dividend to $0.18, implying a 4.7% annual yield.
• FMNB shares recently traded at $15.37, with a market capitalization of about $910.7 million and a P/E ratio of 10.46. Analysts maintain an average “Hold” rating with a $16.00 price target, while two company insiders recently sold shares.

Empowered Funds LLC acquired a new position in Farmers National Banc Corp. (NASDAQ:FMNB - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 229,725 shares of the bank's stock, valued at approximately $3,354,000. Empowered Funds LLC owned 0.39% of Farmers National Banc at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Smithfield Trust Co bought a new stake in Farmers National Banc during the 4th quarter valued at $30,000. Godfrey Financial Associates Inc. bought a new position in shares of Farmers National Banc in the fourth quarter worth $37,000. Parallel Advisors LLC boosted its holdings in shares of Farmers National Banc by 86.1% in the first quarter. Parallel Advisors LLC now owns 2,784 shares of the bank's stock worth $37,000 after acquiring an additional 1,288 shares during the period. Russell Investments Group Ltd. grew its position in shares of Farmers National Banc by 9,065.7% in the third quarter. Russell Investments Group Ltd. now owns 3,208 shares of the bank's stock valued at $46,000 after purchasing an additional 3,173 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Farmers National Banc by 49.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,519 shares of the bank's stock valued at $62,000 after purchasing an additional 1,487 shares in the last quarter. 38.72% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Michael C. Voinovich sold 23,309 shares of Farmers National Banc stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark J. Wenick sold 5,000 shares of the business's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $15.97, for a total value of $79,850.00. Following the transaction, the executive vice president owned 32,020 shares of the company's stock, valued at approximately $511,359.40. The trade was a 13.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 3.50% of the company's stock.

Farmers National Banc Stock Performance

Farmers National Banc stock opened at $15.37 on Wednesday. The firm's 50 day simple moving average is $15.26 and its 200 day simple moving average is $14.21. 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 firm has a market capitalization of $910.67 million, a PE ratio of 10.46 and a beta of 0.76. Farmers National Banc Corp. has a 1-year low of $12.12 and a 1-year high of $16.46.

Farmers National Banc (NASDAQ:FMNB - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The bank reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.07. Farmers National Banc had a net margin of 20.52% and a return on equity of 12.03%. The business had revenue of $70.44 million for the quarter, compared to analysts' expectations of $70.10 million. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.7%. This is a boost from Farmers National Banc's previous quarterly dividend of $0.17. The ex-dividend date is Friday, September 11th. Farmers National Banc's dividend payout ratio (DPR) is 46.26%.

Analyst Ratings Changes

FMNB has been the topic of a number of analyst reports. Wall Street Zen upgraded Farmers National Banc from a "hold" rating to a "buy" 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 research note on Tuesday, July 28th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Farmers National Banc currently has an average rating of "Hold" and an average target price of $16.00.

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.

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