Bank of New York Mellon Corp Acquires 117,384 Shares of Farmers National Banc Corp. (NASDAQ:FMNB)

Bank of New York Mellon Corp boosted its holdings in Farmers National Banc Corp. (NASDAQ:FMNB) by 59.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 315,501 shares of the bank’s stock after acquiring an additional 117,384 shares during the period. Bank of New York Mellon Corp owned 0.84% of Farmers National Banc worth $4,486,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its stake in Farmers National Banc by 11.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,207 shares of the bank’s stock valued at $124,000 after acquiring an additional 829 shares during the period. FMR LLC increased its position in Farmers National Banc by 67.7% during the 3rd quarter. FMR LLC now owns 2,068 shares of the bank’s stock worth $31,000 after buying an additional 835 shares during the period. Barclays PLC increased its position in Farmers National Banc by 330.9% during the 3rd quarter. Barclays PLC now owns 55,930 shares of the bank’s stock worth $845,000 after buying an additional 42,951 shares during the period. Assenagon Asset Management S.A. bought a new position in Farmers National Banc during the 4th quarter worth $559,000. Finally, State Street Corp increased its position in Farmers National Banc by 3.5% during the 3rd quarter. State Street Corp now owns 849,499 shares of the bank’s stock worth $12,844,000 after buying an additional 28,499 shares during the period. Institutional investors own 38.72% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on FMNB. Piper Sandler lowered their price objective on Farmers National Banc from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. StockNews.com upgraded Farmers National Banc from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th.

Insider Activity at Farmers National Banc

In other Farmers National Banc news, Director Gina A. Richardson purchased 2,334 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average price of $13.75 per share, with a total value of $32,092.50. Following the completion of the purchase, the director now owns 9,896 shares of the company’s stock, valued at approximately $136,070. The trade was a 30.86 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ralph D. Macali sold 14,300 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $14.00, for a total value of $200,200.00. Following the completion of the sale, the director now owns 48,983 shares of the company’s stock, valued at $685,762. The trade was a 22.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by insiders.

Farmers National Banc Stock Performance

FMNB opened at $13.16 on Tuesday. The firm has a market cap of $495.01 million, a P/E ratio of 10.79 and a beta of 0.86. Farmers National Banc Corp. has a 52-week low of $11.55 and a 52-week high of $16.32. 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 business’s fifty day moving average is $13.78 and its 200-day moving average is $14.51.

Farmers National Banc (NASDAQ:FMNB) last released its quarterly earnings data on Wednesday, January 29th. The bank reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.05. Farmers National Banc had a return on equity of 11.71% and a net margin of 17.05%. Sell-side analysts expect that Farmers National Banc Corp. will post 1.45 EPS for the current fiscal year.

Farmers National Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 5.17%. The ex-dividend date of this dividend is Friday, March 14th. Farmers National Banc’s dividend payout ratio (DPR) is presently 55.74%.

Farmers National Banc 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.