Farmers National Banc Corp. (NASDAQ:FMNB) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in Farmers National Banc Corp. (NASDAQ:FMNB) by 2.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 419,347 shares of the bank’s stock after selling 12,065 shares during the quarter. The Manufacturers Life Insurance Company owned about 1.12% of Farmers National Banc worth $6,341,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Farmers National Banc by 93.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 83,361 shares of the bank’s stock worth $1,260,000 after buying an additional 40,367 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Farmers National Banc in the third quarter valued at approximately $311,000. Farmers Trust Co. grew its stake in shares of Farmers National Banc by 5.0% during the 3rd quarter. Farmers Trust Co. now owns 416,520 shares of the bank’s stock worth $6,298,000 after purchasing an additional 19,778 shares during the period. Busey Bank acquired a new stake in shares of Farmers National Banc during the 2nd quarter worth approximately $224,000. Finally, SG Americas Securities LLC purchased a new position in shares of Farmers National Banc during the 3rd quarter valued at approximately $214,000. 38.72% of the stock is currently owned by institutional investors and hedge funds.

Farmers National Banc Price Performance

Farmers National Banc stock opened at $15.74 on Friday. 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 company’s fifty day moving average price is $14.93 and its 200 day moving average price is $14.13. The stock has a market capitalization of $591.67 million, a P/E ratio of 12.80 and a beta of 0.86. Farmers National Banc Corp. has a 1 year low of $11.55 and a 1 year high of $16.32.

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

Farmers National Banc Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.32%. Farmers National Banc’s payout ratio is currently 55.28%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Piper Sandler restated a “neutral” rating and set a $17.00 price target on shares of Farmers National Banc in a research report on Thursday, November 21st. StockNews.com upgraded Farmers National Banc from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $16.67.

About Farmers National Banc

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.