The Manufacturers Life Insurance Company Reduces Position in Farmers National Banc Corp. (NASDAQ:FMNB)

The Manufacturers Life Insurance Company reduced its holdings in Farmers National Banc Corp. (NASDAQ:FMNB) by 2.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 419,347 shares of the bank’s stock after selling 12,065 shares during the period. The Manufacturers Life Insurance Company’s holdings in Farmers National Banc were worth $6,341,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Farmers National Banc by 93.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 83,361 shares of the bank’s stock worth $1,260,000 after purchasing an additional 40,367 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Farmers National Banc in the third quarter valued at approximately $311,000. Farmers Trust Co. lifted its position in Farmers National Banc by 5.0% during the third quarter. Farmers Trust Co. now owns 416,520 shares of the bank’s stock worth $6,298,000 after buying an additional 19,778 shares in the last quarter. Busey Bank acquired a new position in Farmers National Banc during the second quarter worth $224,000. Finally, SG Americas Securities LLC purchased a new stake in Farmers National Banc in the 3rd quarter valued at $214,000. 38.72% of the stock is currently owned by institutional investors and hedge funds.

Farmers National Banc Trading Down 0.1 %

Shares of Farmers National Banc stock opened at $15.74 on Friday. Farmers National Banc Corp. has a fifty-two week low of $11.55 and a fifty-two week high of $16.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market capitalization of $591.67 million, a price-to-earnings ratio of 12.80 and a beta of 0.86. The stock has a 50 day moving average of $14.93 and a 200 day moving average of $14.13.

Farmers National Banc (NASDAQ:FMNB) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). The business had revenue of $70.26 million for the quarter, compared to analysts’ expectations of $42.90 million. Farmers National Banc had a return on equity of 11.92% and a net margin of 17.26%. As a group, research analysts predict that Farmers National Banc Corp. will post 1.23 earnings per share for the current year.

Farmers National Banc Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date is Friday, December 13th. Farmers National Banc’s dividend payout ratio (DPR) is 55.28%.

Analyst Upgrades and Downgrades

FMNB has been the topic of several analyst reports. Piper Sandler reiterated a “neutral” rating and set a $17.00 price target on shares of Farmers National Banc in a report on Thursday, November 21st. StockNews.com upgraded shares of Farmers National Banc from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $16.67.

Farmers National Banc Company Profile

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.