Staley Capital Advisers Inc. Increases Holdings in Farmers National Banc Corp. $FMNB

Staley Capital Advisers Inc. increased its position in Farmers National Banc Corp. (NASDAQ:FMNB) by 42.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 250,251 shares of the bank’s stock after buying an additional 75,000 shares during the quarter. Staley Capital Advisers Inc.’s holdings in Farmers National Banc were worth $3,293,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of FMNB. Assenagon Asset Management S.A. bought a new stake in Farmers National Banc in the first quarter worth $2,954,000. Marshall Wace LLP bought a new position in shares of Farmers National Banc during the fourth quarter valued at about $2,707,000. Millennium Management LLC increased its holdings in shares of Farmers National Banc by 231.9% in the fourth quarter. Millennium Management LLC now owns 263,553 shares of the bank’s stock worth $3,511,000 after buying an additional 184,155 shares during the period. First Trust Advisors LP increased its holdings in shares of Farmers National Banc by 454.6% in the third quarter. First Trust Advisors LP now owns 137,655 shares of the bank’s stock worth $1,984,000 after buying an additional 112,834 shares during the period. Finally, Bridgeway Capital Management LLC increased its holdings in shares of Farmers National Banc by 139.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 190,714 shares of the bank’s stock worth $2,540,000 after buying an additional 111,027 shares during the period. Hedge funds and other institutional investors own 38.72% of the company’s stock.

Insider Activity

In related news, Director Michael C. Voinovich sold 23,309 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $14.21, for a total transaction of $331,220.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Zacks Research upgraded Farmers National Banc from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Piper Sandler increased their price objective on Farmers National Banc from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. Weiss Ratings raised shares of Farmers National Banc from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 8th. Finally, Wall Street Zen cut shares of Farmers National Banc from a “buy” rating to a “hold” rating in a research report on Sunday, June 28th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $16.00.

Farmers National Banc Price Performance

Shares of Farmers National Banc stock opened at $14.15 on Thursday. The business has a 50 day moving average of $14.24 and a 200 day moving average of $13.65. Farmers National Banc Corp. has a 52 week low of $12.12 and a 52 week high of $15.50. The company has a market cap of $837.96 million, a PE ratio of 9.76 and a beta of 0.77. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.19.

Farmers National Banc (NASDAQ:FMNB) last issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. Farmers National Banc had a net margin of 19.55% and a return on equity of 11.99%. The business had revenue of $56.26 million for the quarter, compared to the consensus estimate of $55.30 million. As a group, equities research analysts forecast that Farmers National Banc Corp. will post 1.62 earnings per share for the current year.

Farmers National Banc Announces Dividend

The business also recently announced 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 of this dividend was Friday, June 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.8%. Farmers National Banc’s payout ratio is presently 46.90%.

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.