Connor Clark & Lunn Investment Management Ltd. Lowers Stake in Farmers National Banc Corp. $FMNB

Connor Clark & Lunn Investment Management Ltd. lessened its stake in Farmers National Banc Corp. (NASDAQ:FMNB) by 23.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 69,419 shares of the bank’s stock after selling 21,291 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Farmers National Banc were worth $957,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FMNB. Los Angeles Capital Management LLC boosted its position in Farmers National Banc by 193.4% in the 2nd quarter. Los Angeles Capital Management LLC now owns 45,492 shares of the bank’s stock valued at $627,000 after buying an additional 29,985 shares during the period. Corton Capital Inc. bought a new stake in shares of Farmers National Banc during the second quarter valued at approximately $201,000. Hunter Associates Investment Management LLC boosted its holdings in shares of Farmers National Banc by 9.7% in the second quarter. Hunter Associates Investment Management LLC now owns 14,155 shares of the bank’s stock valued at $197,000 after purchasing an additional 1,247 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Farmers National Banc by 4.4% in the second quarter. Sequoia Financial Advisors LLC now owns 26,973 shares of the bank’s stock valued at $372,000 after purchasing an additional 1,130 shares during the period. Finally, CWM LLC grew its stake in Farmers National Banc by 158.8% in the second quarter. CWM LLC now owns 5,267 shares of the bank’s stock worth $73,000 after purchasing an additional 3,232 shares in the last quarter. Institutional investors own 38.72% of the company’s stock.

Farmers National Banc Stock Performance

Shares of NASDAQ:FMNB opened at $12.86 on Wednesday. The firm has a 50 day moving average of $13.90 and a 200 day moving average of $13.86. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $484.22 million, a price-to-earnings ratio of 8.93 and a beta of 0.85. Farmers National Banc Corp. has a 52 week low of $11.58 and a 52 week high of $16.29.

Farmers National Banc (NASDAQ:FMNB) last announced its earnings results on Wednesday, October 22nd. The bank reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. The business had revenue of $47.74 million for the quarter, compared to analysts’ expectations of $48.00 million. Farmers National Banc had a return on equity of 13.82% and a net margin of 19.57%. On average, sell-side analysts predict that Farmers National Banc Corp. will post 1.45 earnings per share for the current fiscal year.

Farmers National Banc Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 5.3%. The ex-dividend date was Friday, September 12th. Farmers National Banc’s payout ratio is 47.22%.

Insider Buying and Selling

In other news, Director Edward Muransky purchased 73,500 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was acquired at an average cost of $13.59 per share, with a total value of $998,865.00. Following the completion of the transaction, the director owned 110,706 shares in the company, valued at $1,504,494.54. This represents a 197.55% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FMNB. Zacks Research lowered Farmers National Banc from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 26th. Weiss Ratings restated a “hold (c+)” rating on shares of Farmers National Banc in a research note on Thursday, November 13th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.50.

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.