Beese Fulmer Investment Management Inc. Decreases Stake in Farmers National Banc Corp. (NASDAQ:FMNB)

Beese Fulmer Investment Management Inc. lowered its holdings in Farmers National Banc Corp. (NASDAQ:FMNB) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 392,339 shares of the bank’s stock after selling 5,425 shares during the quarter. Beese Fulmer Investment Management Inc. owned 1.05% of Farmers National Banc worth $4,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of FMNB. Schneider Downs Wealth Management Advisors LP purchased a new position in shares of Farmers National Banc in the first quarter worth $2,683,000. Staley Capital Advisers Inc. purchased a new position in shares of Farmers National Banc in the first quarter worth $2,121,000. BlackRock Inc. grew its holdings in shares of Farmers National Banc by 8.1% in the first quarter. BlackRock Inc. now owns 2,170,434 shares of the bank’s stock worth $37,027,000 after acquiring an additional 162,721 shares during the period. Farmers Trust Co. grew its holdings in shares of Farmers National Banc by 23.5% in the first quarter. Farmers Trust Co. now owns 678,635 shares of the bank’s stock worth $8,578,000 after acquiring an additional 129,176 shares during the period. Finally, Swiss National Bank bought a new stake in shares of Farmers National Banc in the fourth quarter worth $1,237,000. Hedge funds and other institutional investors own 38.84% of the company’s stock.

Farmers National Banc Stock Performance

Shares of FMNB traded down $0.10 during trading hours on Friday, hitting $12.12. The stock had a trading volume of 132,243 shares, compared to its average volume of 121,196. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.71 and a quick ratio of 0.71. Farmers National Banc Corp. has a 12 month low of $10.82 and a 12 month high of $15.46. The firm has a market capitalization of $454.38 million, a PE ratio of 8.42 and a beta of 0.84. The stock has a fifty day moving average price of $13.05 and a 200 day moving average price of $12.53.

Farmers National Banc (NASDAQ:FMNB) last released its quarterly earnings results on Wednesday, July 26th. The bank reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). Farmers National Banc had a net margin of 23.60% and a return on equity of 19.12%. The company had revenue of $62.25 million for the quarter, compared to the consensus estimate of $46.87 million. Analysts anticipate that Farmers National Banc Corp. will post 1.57 EPS for the current year.

Farmers National Banc Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 5.61%. The ex-dividend date of this dividend is Thursday, September 7th. Farmers National Banc’s dividend payout ratio is presently 47.22%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Farmers National Banc from a “sell” rating to a “hold” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, Farmers National Banc currently has an average rating of “Hold” and a consensus price target of $14.33.

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.