Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in Farmers National Banc Corp. (NASDAQ:FMNB)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Farmers National Banc Corp. (NASDAQ:FMNB) by 16.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,979 shares of the bank’s stock after buying an additional 13,618 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.26% of Farmers National Banc worth $1,379,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the stock. State Street Corp lifted its stake in shares of Farmers National Banc by 3.5% in the 3rd quarter. State Street Corp now owns 849,499 shares of the bank’s stock worth $12,844,000 after purchasing an additional 28,499 shares during the period. Geode Capital Management LLC increased its holdings in Farmers National Banc by 5.5% in the 3rd quarter. Geode Capital Management LLC now owns 846,454 shares of the bank’s stock worth $12,802,000 after acquiring an additional 44,349 shares in the last quarter. Farmers Trust Co. raised its position in shares of Farmers National Banc by 5.8% during the 4th quarter. Farmers Trust Co. now owns 440,742 shares of the bank’s stock valued at $6,267,000 after purchasing an additional 24,222 shares during the period. Bank of New York Mellon Corp raised its holdings in Farmers National Banc by 59.2% during the fourth quarter. Bank of New York Mellon Corp now owns 315,501 shares of the bank’s stock valued at $4,486,000 after acquiring an additional 117,384 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Farmers National Banc by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 103,160 shares of the bank’s stock valued at $1,560,000 after acquiring an additional 2,241 shares in the last quarter. 38.72% of the stock is owned by hedge funds and other institutional investors.

Farmers National Banc Price Performance

Shares of Farmers National Banc stock opened at $13.32 on Thursday. The firm has a market cap of $501.03 million, a PE ratio of 10.92 and a beta of 0.86. The stock has a 50 day moving average of $13.77 and a 200 day moving average of $14.49. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.20. Farmers National Banc Corp. has a 12 month low of $11.55 and a 12 month high of $16.32.

Farmers National Banc (NASDAQ:FMNB) last posted its earnings results on Wednesday, January 29th. The bank reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. Farmers National Banc had a net margin of 17.05% and a return on equity of 11.71%. On average, research analysts expect that Farmers National Banc Corp. will post 1.45 EPS for the current fiscal year.

Farmers National Banc Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.17 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.68 annualized dividend and a yield of 5.11%. Farmers National Banc’s dividend payout ratio is currently 55.74%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

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

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.