Wellington Management Group LLP Buys New Position in Farmers National Banc Corp. (FMNB)
Wellington Management Group LLP acquired a new stake in Farmers National Banc Corp. (NASDAQ:FMNB) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 375,125 shares of the bank’s stock, valued at approximately $5,383,000. Wellington Management Group LLP owned 1.39% of Farmers National Banc Corp. at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Pacific Ridge Capital Partners LLC increased its position in Farmers National Banc Corp. by 43.8% in the first quarter. Pacific Ridge Capital Partners LLC now owns 320,178 shares of the bank’s stock worth $4,595,000 after buying an additional 97,566 shares during the period. LSV Asset Management increased its position in Farmers National Banc Corp. by 74.4% in the first quarter. LSV Asset Management now owns 159,526 shares of the bank’s stock worth $2,289,000 after buying an additional 68,048 shares during the period. Dimensional Fund Advisors LP increased its position in Farmers National Banc Corp. by 49.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 192,196 shares of the bank’s stock worth $2,730,000 after buying an additional 63,897 shares during the period. Bowling Portfolio Management LLC acquired a new position in Farmers National Banc Corp. during the first quarter worth $640,000. Finally, State Street Corp increased its position in Farmers National Banc Corp. by 12.2% in the fourth quarter. State Street Corp now owns 390,953 shares of the bank’s stock worth $5,549,000 after buying an additional 42,490 shares during the period. 33.71% of the stock is owned by institutional investors.
Shares of Farmers National Banc Corp. (FMNB) traded down 2.17% on Thursday, hitting $13.55. 47,294 shares of the stock were exchanged. Farmers National Banc Corp. has a 1-year low of $8.90 and a 1-year high of $15.50. The stock’s 50-day moving average is $14.47 and its 200-day moving average is $13.95. The stock has a market cap of $366.76 million, a price-to-earnings ratio of 17.15 and a beta of 0.46.
Farmers National Banc Corp. (NASDAQ:FMNB) last issued its earnings results on Wednesday, July 26th. The bank reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by $0.01. The business had revenue of $24.43 million for the quarter, compared to analysts’ expectations of $24.80 million. Farmers National Banc Corp. had a return on equity of 10.39% and a net margin of 22.19%. Analysts forecast that Farmers National Banc Corp. will post $0.90 earnings per share for the current year.
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A number of research firms recently weighed in on FMNB. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $16.00 target price on shares of Farmers National Banc Corp. in a research report on Thursday, July 27th. BidaskClub downgraded shares of Farmers National Banc Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, Zacks Investment Research raised shares of Farmers National Banc Corp. from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $16.50.
In other Farmers National Banc Corp. news, insider Mark J. Wenick bought 2,200 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was acquired at an average cost of $14.10 per share, with a total value of $31,020.00. Following the purchase, the insider now owns 8,690 shares in the company, valued at approximately $122,529. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have bought 3,004 shares of company stock valued at $42,645. Company insiders own 7.80% of the company’s stock.
Farmers National Banc Corp. Company Profile
Farmers National Banc Corp. is a one-bank holding company. The Company’s principal business consists of owning and supervising its subsidiaries. The Company operates through tree segments: the Bank, Trust and Retirement Consulting. The Company operates principally through its subsidiaries, The Farmers National Bank of Canfield (the Bank or Farmers Bank), Farmers Trust Company (Trust or Farmers Trust), National Associates, Inc (NAI) and Farmers National Captive, Inc (Captive).
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