Farmers National Banc Corp (NASDAQ:FMNB) Director Ralph D. Macali has recently increased his stake in the company through the purchase of additional shares. On June 11, 2024, Macali acquired 485 shares of Farmers National Banc Corp. at a price of $11.87 per share, amounting to a total investment of $5,756.
This transaction reflects a vote of confidence from Macali in the financial institution, which operates within the state commercial banks sector. Following the purchase, the total number of shares owned by Macali has reached 1,037, held indirectly by his spouse. In addition to these shares, Macali has significant holdings through direct and indirect ownership, including 28,893 shares held directly, 22,877 shares held indirectly by Ralph Macali as Trustee for RMS Trust, and 41,185 shares held indirectly by Ralph Macali, PMRP Partnership.
Farmers National Banc Corp., headquartered in Canfield, Ohio, has a strong presence in the region and is known for providing a range of banking and financial services. The recent acquisition by Director Macali may indicate his optimistic outlook on the company's future performance.
Investors often monitor insider transactions such as these to gain insights into the perspectives of those who are closely involved with the company's operations and strategic direction. Macali's purchase adds to the overall picture of insider sentiment and may be considered by shareholders and potential investors when evaluating their positions in Farmers National Banc Corp.
In other recent news, Farmers National Banc Corp. has announced a quarterly cash dividend of $0.17 per share. The dividend, approved by the company's Board of Directors, will be recorded on June 14, 2024, and subsequently paid out on June 28, 2024. This move is in line with Farmers National Banc Corp.'s ongoing commitment to providing shareholder value.
The company, which boasts $5.1 billion in banking assets and $3.8 billion in wealth management assets, operates a range of commercial, retail, and wealth management services across Ohio and Pennsylvania. Among its subsidiaries are The Farmers National Bank of Canfield, Farmers Trust Company, and Farmers National Insurance, LLC.
These recent developments continue the financial practice of Farmers National Banc Corp. of distributing a portion of its earnings back to its investors. The information in this report is based on a press release statement from the company, highlighting its intention to share its financial success with its shareholders through regular dividend payments.
InvestingPro Insights
Director Ralph D. Macali's recent share purchase in Farmers National Banc Corp is a move that aligns with the company's history of consistent dividend payments. According to InvestingPro Tips, FMNB has not only raised its dividend for 8 consecutive years but has also maintained dividend payments for an impressive 31 consecutive years. This demonstrates a commitment to shareholder returns, which may reassure investors looking for stable income streams.
Examining key financial metrics from InvestingPro Data, Farmers National Banc Corp. boasts a market capitalization of $447.22 million, with a P/E ratio as of Q1 2024 standing at an adjusted 8.12. This indicates that the company is potentially undervalued compared to earnings, which could be an attractive point for value investors. Furthermore, FMNB has experienced a solid revenue growth of 10.32% over the last twelve months as of Q1 2024, underscoring its financial health and potential for continued expansion.
Despite concerns over weak gross profit margins as highlighted by InvestingPro Tips, analysts predict the company will be profitable this year, and it has indeed been profitable over the last twelve months. For investors interested in deeper analysis and more InvestingPro Tips, there are additional tips available on https://www.investing.com/pro/FMNB. To access these valuable insights, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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