224,474 Shares in Farmers National Banc Corp. $FMNB Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. bought a new position in shares of Farmers National Banc Corp. (NASDAQ:FMNB) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 224,474 shares of the bank’s stock, valued at approximately $2,954,000. Assenagon Asset Management S.A. owned 0.59% of Farmers National Banc at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in FMNB. Demming Financial Services Corp ADV purchased a new stake in shares of Farmers National Banc during the 1st quarter worth approximately $796,000. Amarillo National Bank purchased a new position in Farmers National Banc in the 1st quarter valued at approximately $184,000. SG Americas Securities LLC increased its stake in Farmers National Banc by 6.4% in the 1st quarter. SG Americas Securities LLC now owns 15,227 shares of the bank’s stock valued at $200,000 after purchasing an additional 920 shares in the last quarter. Hsbc Holdings PLC increased its stake in Farmers National Banc by 45.9% in the 4th quarter. Hsbc Holdings PLC now owns 26,879 shares of the bank’s stock valued at $358,000 after purchasing an additional 8,461 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in Farmers National Banc by 109.2% during the fourth quarter. Empowered Funds LLC now owns 143,728 shares of the bank’s stock worth $1,914,000 after purchasing an additional 75,009 shares during the last quarter. 38.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FMNB. Piper Sandler boosted their target price 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. Wall Street Zen cut Farmers National Banc from a “buy” rating to a “hold” rating in a research report on Sunday. Zacks Research raised Farmers National Banc from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Finally, Weiss Ratings upgraded shares of Farmers National Banc from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Farmers National Banc currently has a consensus rating of “Hold” and an average price target of $16.00.

Farmers National Banc Stock Performance

Shares of FMNB opened at $14.60 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.79 and a quick ratio of 0.79. Farmers National Banc Corp. has a 1-year low of $12.12 and a 1-year high of $15.50. The stock has a market cap of $864.61 million, a price-to-earnings ratio of 10.07 and a beta of 0.76. The firm has a 50 day simple moving average of $14.17 and a 200-day simple moving average of $13.65.

Farmers National Banc (NASDAQ:FMNB) last posted its earnings results 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. 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%. Equities analysts forecast that Farmers National Banc Corp. will post 1.62 EPS for the current fiscal year.

Farmers National Banc Dividend Announcement

The business 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Friday, June 12th. Farmers National Banc’s payout ratio is 46.90%.

Insider Activity

In related news, Director Michael C. Voinovich sold 23,309 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $14.21, for a total transaction of $331,220.89. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.50% of the stock is owned by corporate insiders.

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.