Panagora Asset Management Inc. Purchases Shares of 37,111 Farmers National Banc Corp (NASDAQ:FMNB)

Panagora Asset Management Inc. purchased a new stake in shares of Farmers National Banc Corp (NASDAQ:FMNB) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 37,111 shares of the bank’s stock, valued at approximately $550,000.

Several other hedge funds have also recently bought and sold shares of FMNB. BNP Paribas Arbitrage SA grew its stake in shares of Farmers National Banc by 509.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,301 shares of the bank’s stock worth $73,000 after buying an additional 4,431 shares during the last quarter. Cetera Investment Advisers bought a new position in Farmers National Banc in the 1st quarter worth $368,000. Wedge Capital Management L L P NC raised its holdings in Farmers National Banc by 21.4% in the 1st quarter. Wedge Capital Management L L P NC now owns 29,224 shares of the bank’s stock worth $403,000 after purchasing an additional 5,160 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in Farmers National Banc in the 2nd quarter worth $454,000. Finally, Acadian Asset Management LLC raised its holdings in Farmers National Banc by 35.8% in the 1st quarter. Acadian Asset Management LLC now owns 40,338 shares of the bank’s stock worth $556,000 after purchasing an additional 10,641 shares during the period. Hedge funds and other institutional investors own 38.16% of the company’s stock.

A number of equities analysts recently commented on FMNB shares. Zacks Investment Research raised Farmers National Banc from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Boenning Scattergood reaffirmed a “buy” rating and issued a $15.50 target price on shares of Farmers National Banc in a report on Wednesday, July 31st. ValuEngine cut Farmers National Banc from a “hold” rating to a “sell” rating in a report on Wednesday, July 17th. BidaskClub cut Farmers National Banc from a “hold” rating to a “sell” rating in a report on Friday, August 16th. Finally, Raymond James raised their target price on Farmers National Banc from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Farmers National Banc currently has a consensus rating of “Hold” and an average target price of $15.50.

FMNB stock traded down $0.32 during trading on Friday, reaching $13.44. The company’s stock had a trading volume of 1,228 shares, compared to its average volume of 34,677. Farmers National Banc Corp has a 1 year low of $11.56 and a 1 year high of $16.05. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $381.53 million, a P/E ratio of 11.85 and a beta of 0.83. The company’s fifty day moving average is $14.33 and its 200-day moving average is $14.24.

Farmers National Banc (NASDAQ:FMNB) last issued its quarterly earnings results on Friday, July 26th. The bank reported $0.31 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.31. Farmers National Banc had a return on equity of 12.54% and a net margin of 26.98%. The business had revenue of $27.49 million during the quarter, compared to analyst estimates of $27.60 million. Analysts anticipate that Farmers National Banc Corp will post 1.25 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Thursday, September 12th. This is a positive change from Farmers National Banc’s previous quarterly dividend of $0.09. Farmers National Banc’s dividend payout ratio is presently 31.30%.

About Farmers National Banc

Farmers National Banc Corp., through its subsidiaries, operates in the banking, trust, retirement consulting, insurance, and financial management industries. The company 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, MasterCard and Visa credit cards, brokerage, and other services.

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Institutional Ownership by Quarter for Farmers National Banc (NASDAQ:FMNB)

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