Renaissance Technologies LLC Has $726,000 Stake in Farmers National Banc Corp. $FMNB

Renaissance Technologies LLC grew its position in Farmers National Banc Corp. (NASDAQ:FMNB) by 411.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,149 shares of the bank’s stock after acquiring an additional 44,365 shares during the period. Renaissance Technologies LLC’s holdings in Farmers National Banc were worth $726,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FMNB. Smithfield Trust Co bought a new stake in Farmers National Banc during the 4th quarter worth approximately $30,000. Godfrey Financial Associates Inc. bought a new position in Farmers National Banc in the 4th quarter valued at $37,000. Parallel Advisors LLC raised its position in Farmers National Banc by 86.1% in the 1st quarter. Parallel Advisors LLC now owns 2,784 shares of the bank’s stock valued at $37,000 after purchasing an additional 1,288 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in 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 worth $46,000 after purchasing an additional 3,173 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in 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 worth $62,000 after purchasing an additional 1,487 shares in the last quarter. 38.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FMNB has been the topic of several research analyst reports. Piper Sandler increased their target price on Farmers National Banc from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. Weiss Ratings upgraded shares of Farmers National Banc from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen raised shares of Farmers National Banc from a “hold” rating to a “buy” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $16.00.

Farmers National Banc Stock Down 0.4%

Farmers National Banc stock opened at $16.31 on Friday. The company’s 50 day simple moving average is $14.93 and its 200 day simple moving average is $14.00. Farmers National Banc Corp. has a fifty-two week low of $12.12 and a fifty-two week high of $16.46. The firm has a market capitalization of $966.37 million, a price-to-earnings ratio of 11.10 and a beta of 0.76. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.79 and a quick ratio of 0.79.

Farmers National Banc (NASDAQ:FMNB) last issued its earnings results on Wednesday, July 22nd. The bank reported $0.41 EPS for the quarter, beating 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 firm had revenue of $70.44 million during the quarter, compared to the consensus estimate of $70.10 million. As a group, sell-side analysts anticipate that Farmers National Banc Corp. will post 1.68 EPS for the current year.

Farmers National Banc Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 12th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.68 annualized dividend and a dividend yield of 4.2%. Farmers National Banc’s payout ratio is 46.26%.

Insider Buying and Selling at Farmers National Banc

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

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.