Virtus Investment Advisers Inc. Makes New Investment in Farmers National Banc Corp. (NASDAQ:FMNB)

Virtus Investment Advisers Inc. purchased a new position in shares of Farmers National Banc Corp. (NASDAQ:FMNB) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,800 shares of the bank’s stock, valued at approximately $148,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FMNB. Connor Clark & Lunn Investment Management Ltd. raised its stake in Farmers National Banc by 93.9% during the 3rd 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 period. State Street Corp raised its position in shares of Farmers National Banc by 3.5% during the third 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. Los Angeles Capital Management LLC bought a new position in shares of Farmers National Banc during the 3rd quarter valued at about $311,000. Farmers Trust Co. lifted its holdings 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 valued at $6,298,000 after purchasing an additional 19,778 shares in the last quarter. Finally, Busey Bank acquired a new position in shares of Farmers National Banc in the 2nd quarter valued at approximately $224,000. Institutional investors and hedge funds own 38.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Piper Sandler reiterated a “neutral” rating and issued a $17.00 price target on shares of Farmers National Banc in a report on Thursday, November 21st. StockNews.com raised shares of Farmers National Banc from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Farmers National Banc has a consensus rating of “Hold” and a consensus target price of $16.67.

Farmers National Banc Stock Down 0.1 %

Shares of FMNB stock opened at $15.74 on Friday. The firm’s fifty day moving average price is $14.93 and its two-hundred day moving average price is $14.13. Farmers National Banc Corp. has a 1 year low of $11.55 and a 1 year high of $16.32. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $591.67 million, a P/E ratio of 12.80 and a beta of 0.86.

Farmers National Banc (NASDAQ:FMNB) last released 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 return on equity of 11.92% and a net margin of 17.26%. The company had revenue of $70.26 million for the quarter, compared to the consensus estimate of $42.90 million. On average, equities analysts predict that Farmers National Banc Corp. will post 1.23 EPS for the current fiscal year.

Farmers National Banc Announces Dividend

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

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.