JPMorgan Chase & Co. Has $1.15 Million Stake in Farmers National Banc Corp. (NASDAQ:FMNB)

JPMorgan Chase & Co. raised its stake in shares of Farmers National Banc Corp. (NASDAQ:FMNB) by 142.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 76,133 shares of the bank’s stock after purchasing an additional 44,783 shares during the period. JPMorgan Chase & Co. owned 0.20% of Farmers National Banc worth $1,151,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FMNB. FMR LLC raised its position in shares of Farmers National Banc by 67.7% during the third quarter. FMR LLC now owns 2,068 shares of the bank’s stock worth $31,000 after acquiring an additional 835 shares during the last quarter. BNP Paribas Financial Markets increased its position in Farmers National Banc by 11.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,207 shares of the bank’s stock valued at $124,000 after purchasing an additional 829 shares during the period. Virtus Investment Advisers Inc. bought a new position in Farmers National Banc during the 3rd quarter worth approximately $148,000. PEAK6 Investments LLC bought a new position in Farmers National Banc during the 3rd quarter worth approximately $157,000. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Farmers National Banc by 8.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 13,245 shares of the bank’s stock worth $165,000 after purchasing an additional 997 shares during the period. 38.72% of the stock is owned by institutional investors and hedge funds.

Farmers National Banc Stock Performance

Shares of FMNB stock opened at $13.45 on Friday. The firm has a 50 day moving average of $14.57 and a 200-day moving average of $14.62. The company has a market cap of $505.59 million, a price-to-earnings ratio of 10.93 and a beta of 0.86. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.20. Farmers National Banc Corp. has a 52 week low of $11.55 and a 52 week high of $16.32.

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

Farmers National Banc Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date was Friday, December 13th. Farmers National Banc’s payout ratio is 55.28%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FMNB. StockNews.com upgraded shares of Farmers National Banc from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Piper Sandler reiterated a “neutral” rating and set a $17.00 price target on shares of Farmers National Banc in a report on Thursday, November 21st.

Farmers National Banc Company Profile

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.