Farmers National Banc Corp. $FMNB Shares Sold by LSV Asset Management

Key Points

• LSV Asset Management cut its stake in Farmers National Banc by 17% in the fourth quarter, selling 75,300 shares and leaving it with 367,217 shares worth about $4.9 million.
• The bank reported better-than-expected Q1 results, with EPS of $0.45 versus estimates of $0.37 and revenue of $56.26 million versus $55.30 million expected.
• Farmers National Banc declared a quarterly dividend of $0.17 per share, equal to an annualized yield of 4.8%, while analysts currently have a consensus Hold rating and a $16 price target.

LSV Asset Management reduced its position in Farmers National Banc Corp. (NASDAQ:FMNB - Free Report) by 17.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 367,217 shares of the bank's stock after selling 75,300 shares during the period. LSV Asset Management owned approximately 0.98% of Farmers National Banc worth $4,891,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FMNB. First Trust Advisors LP lifted its stake in shares of Farmers National Banc by 454.6% in the 3rd quarter. First Trust Advisors LP now owns 137,655 shares of the bank's stock valued at $1,984,000 after purchasing an additional 112,834 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Farmers National Banc by 42.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 220,076 shares of the bank's stock valued at $3,171,000 after purchasing an additional 65,569 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Farmers National Banc in the 1st quarter valued at about $830,000. Vanguard Group Inc. lifted its stake in shares of Farmers National Banc by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,127,360 shares of the bank's stock valued at $30,655,000 after purchasing an additional 52,854 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its stake in shares of Farmers National Banc by 55.2% in the 3rd quarter. Squarepoint Ops LLC now owns 134,445 shares of the bank's stock valued at $1,937,000 after purchasing an additional 47,839 shares in the last quarter. 38.72% of the stock is owned by institutional investors and hedge funds.

Farmers National Banc Stock Performance

Farmers National Banc stock opened at $14.27 on Wednesday. The stock's 50 day moving average price is $13.65 and its 200 day moving average price is $13.50. The firm has a market capitalization of $845.07 million, a PE ratio of 9.84 and a beta of 0.77. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.79 and a current ratio of 0.79. Farmers National Banc Corp. has a one year low of $12.12 and a one year high of $15.50.

Farmers National Banc (NASDAQ:FMNB - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.45 EPS for the quarter, topping the consensus estimate of $0.37 by $0.08. The firm had revenue of $56.26 million for the quarter, compared to analyst estimates of $55.30 million. Farmers National Banc had a return on equity of 11.99% and a net margin of 19.55%. As a group, sell-side analysts expect that Farmers National Banc Corp. will post 1.62 EPS for the current fiscal year.

Farmers National Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 12th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, June 12th. This represents a $0.68 annualized dividend and a yield of 4.8%. Farmers National Banc's payout ratio is currently 46.90%.

Insider Transactions at Farmers National Banc

In other Farmers National Banc news, Director Edward Muransky acquired 40,000 shares of the company's stock in a transaction on Tuesday, March 3rd. The shares were bought at an average cost of $12.74 per share, for a total transaction of $509,600.00. Following the acquisition, the director directly owned 196,020 shares of the company's stock, valued at $2,497,294.80. This trade represents a 25.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders purchased 41,672 shares of company stock worth $530,974. 3.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FMNB shares. Piper Sandler boosted their price target on Farmers National Banc from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, April 23rd. Weiss Ratings raised Farmers National Banc from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, May 8th. Wall Street Zen raised Farmers National Banc from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. Finally, Zacks Research raised Farmers National Banc from a "strong sell" rating to a "hold" rating in a research report on Friday, April 3rd. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $16.00.

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.

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