Northern Trust Corp lifted its position in shares of Farmers National Banc Corp (NASDAQ:FMNB) by 9.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 276,716 shares of the bank’s stock after acquiring an additional 23,073 shares during the quarter. Northern Trust Corp owned approximately 1.02% of Farmers National Banc worth $4,013,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new stake in shares of Farmers National Banc during the 2nd quarter valued at $141,000. Prudential Financial Inc. raised its position in Farmers National Banc by 0.9% during the 1st quarter. Prudential Financial Inc. now owns 11,810 shares of the bank’s stock worth $169,000 after purchasing an additional 100 shares during the last quarter. American International Group Inc. raised its position in Farmers National Banc by 7.1% during the 1st quarter. American International Group Inc. now owns 15,312 shares of the bank’s stock worth $220,000 after purchasing an additional 1,020 shares during the last quarter. Alliancebernstein L.P. bought a new position in Farmers National Banc during the 2nd quarter worth $238,000. Finally, Rhumbline Advisers raised its position in Farmers National Banc by 33.8% during the 2nd quarter. Rhumbline Advisers now owns 26,970 shares of the bank’s stock worth $391,000 after purchasing an additional 6,815 shares during the last quarter. 34.49% of the stock is currently owned by institutional investors.
Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $16.00 price objective on shares of Farmers National Banc in a research report on Tuesday, October 3rd. ValuEngine raised Farmers National Banc from a “hold” rating to a “buy” rating in a research report on Thursday, November 30th. Finally, Zacks Investment Research lowered Farmers National Banc from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $16.00.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.24 dividend on an annualized basis and a yield of 1.61%. Farmers National Banc’s dividend payout ratio (DPR) is currently 28.57%.
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Farmers National Banc 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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