The Manufacturers Life Insurance Company Acquires New Stake in Farmers National Banc Corp. $FMNB

The Manufacturers Life Insurance Company bought a new position in Farmers National Banc Corp. (NASDAQ:FMNB - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 467,600 shares of the bank's stock, valued at approximately $6,827,000. The Manufacturers Life Insurance Company owned 0.79% of Farmers National Banc as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Farmers National Banc by 13.5% during the second quarter. BlackRock Inc. now owns 4,798,011 shares of the bank's stock valued at $70,051,000 after purchasing an additional 569,057 shares during the period. Vanguard Group Inc. increased its stake in Farmers National Banc by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,127,360 shares of the bank's stock worth $30,655,000 after buying an additional 52,854 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Farmers National Banc by 24.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,539,834 shares of the bank's stock valued at $20,264,000 after buying an additional 302,397 shares in the last quarter. Beese Fulmer Investment Management Inc. boosted its position 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 buying an additional 39,539 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Farmers National Banc by 7.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 363,447 shares of the bank's stock valued at $5,306,000 after buying an additional 25,518 shares during the period. 38.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FMNB. Weiss Ratings raised shares of Farmers National Banc from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, July 28th. Wall Street Zen upgraded Farmers National Banc from a "hold" rating to a "buy" rating in a report on Sunday. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $16.00.

Insiders Place Their Bets

In related news, Director Michael C. Voinovich sold 23,309 shares of the firm's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $14.21, for a total transaction of $331,220.89. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark J. Wenick sold 5,000 shares of Farmers National Banc stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $15.97, for a total value of $79,850.00. Following the completion of the transaction, the executive vice president owned 32,020 shares in the company, valued at $511,359.40. This trade represents a 13.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.50% of the company's stock.

Farmers National Banc Price Performance

NASDAQ FMNB opened at $15.68 on Monday. The company has a market cap of $929.04 million, a PE ratio of 10.67 and a beta of 0.76. The firm's 50 day moving average price is $15.22 and its 200-day moving average price is $14.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.79 and a current ratio of 0.79. Farmers National Banc Corp. has a 52-week low of $12.12 and a 52-week high of $16.46.

Farmers National Banc (NASDAQ:FMNB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. The company had revenue of $70.44 million during the quarter, compared to the consensus estimate of $70.10 million. Farmers National Banc had a net margin of 20.52% and a return on equity of 12.03%. Sell-side analysts forecast that Farmers National Banc Corp. will post 1.68 EPS for the current fiscal year.

Farmers National Banc Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, September 11th. This is a positive change from Farmers National Banc's previous quarterly dividend of $0.17. Farmers National Banc's dividend payout ratio is presently 46.26%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source