Farmers Begins Listing in MSCI USA Micro-Cap Index
CANFIELD, Ohio – Beginning today, Farmers National Banc Corp., whose shares are traded on the Nasdaq Exchange, is in the MSCI USA Micro-Cap Index.
The listing formally took effect after markets closed last Friday afternoon, John S. Gulas, president and CEO, announced this morning.
Farmers is one of 37 new stocks to be included in the index of 902 constituents, Gulas said. The index began Nov. 20, 2010.
Farmers National Banc Corp. is the holding company of Farmers National Bank, the Farmers Trust Co. and Farmers National Insurance LLC. It has a market capitalization of $116 million and 18.8 million shares outstanding. Its shares began trading on Nasdaq Sept. 15, 2011.
The MSCI USA Micro Cap Index targets for inclusion the lowest 1.5% of the U.S. equity market capitalization and the weighted stock index measures the performance of the micro-cap segment of U.S. equities markets. Of the 10 sectors that comprise the index, providers of financial services make up 34.25%. It is reviewed quarterly in February, May, August and November.
Inclusion in MSCI (which began as Morgan Stanley Capital International in 1969) USA Micro-Cap is limited to corporations with a market capitalization of $500 million or less. It could result in additional trading in shares of Farmers National, the company said. Slightly more than 16,000 shares trade daily on average.
Published by The Business Journal, Youngstown, Ohio.
CLICK HERE to subscribe to our twice-monthly print edition.