Farmers National Banc Oh (FMNB) AI Stock Analysis

• Market Cap: $542.96M
• Dividend Yield: 4.71%
• Average Volume (3M): 166.68K
• Price to Earnings (P/E): 10.0
• Beta (1Y): 0.75
• Revenue Growth: 3.93%
• EPS Growth: 17.48%
• Country: US
• Employees: 682
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.33
• Shares Outstanding: 37,653,183
• 10 Day Avg. Volume: 163,370
• 30 Day Avg. Volume: 166,683
• PEG Ratio: -1.41
• Price to Book (P/B): 1.31
• Price to Sales (P/S): 1.97
• P/FCF Ratio: 9.66
• Enterprise Value/Market Cap: 1.56
• Enterprise Value/Revenue: 3.06
• Enterprise Value/Gross Profit: 4.75
• Enterprise Value/Ebitda: 11.81
• 1Y Price Target: $15.00
• Price Target Upside: 3.81% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 1.54
• Revenue Forecast (FY): $194.81M

• Rating: 77 Outperform
• Price Target: $16.00 ▲(10.73% Upside)

Farmers National Banc Oh scores well due to its strong financial performance, attractive valuation, and strategic corporate event with the merger announcement. Technical indicators also support a positive outlook, although the high stochastic value suggests monitoring for potential overbought conditions. The absence of earnings call data does not detract significantly from the overall positive assessment.

Positive Factors

Merger with Middlefield Banc Corp.

The merger with Middlefield Banc Corp. is expected to enhance Farmers National's market positioning and expand its asset base, providing long-term growth opportunities and competitive advantages in Ohio and Pennsylvania.

Revenue Growth

The robust revenue growth rate of 19.2% indicates effective business expansion and strong demand for the company's banking services, supporting long-term financial stability and market competitiveness.

Profitability

A healthy net profit margin of 20.41% demonstrates efficient cost management and operational effectiveness, contributing to sustained profitability and financial health over the long term.

Negative Factors

Declining Free Cash Flow Growth

The decline in free cash flow growth indicates potential challenges in cash generation, which could impact the company's ability to finance operations and investments without relying on external funding.

Low Equity Ratio

A low equity ratio indicates a higher reliance on debt, which could limit financial flexibility and increase risk, especially in adverse economic conditions, impacting long-term financial stability.

Decreased Gross Profit Margin

A decreasing gross profit margin suggests rising costs or pricing pressures, which could erode profitability and competitiveness if not addressed, impacting long-term financial performance.

Farmers National Banc Oh Business Overview & Revenue Model

Company Description

Farmers National Banc Corp., a financial holding company, operates in the banking, trust, retirement consulting, insurance, and financial management industries. 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, MasterCard and Visa credit cards, brokerage, and other services. The company also provides personal and corporate trust services in the areas of estate settlement, trust administration, and employee benefit plans; retirement services; property and casualty insurance products and services; and various insurance products through licensed representatives, as well as invests in municipal securities. It operates through 47 locations in northeastern region of Ohio and one location in southwestern Pennsylvania. The company was founded in 1887 and is based in Canfield, Ohio.

How the Company Makes Money

Farmers National Banc Corp generates revenue through several key streams. Primarily, the company earns interest income from loans issued to consumers and businesses, which constitutes a significant portion of its revenue. This includes personal, commercial, and real estate loans. Additionally, FMNB collects fees from deposit accounts and various banking services, adding to its non-interest income. The wealth management division contributes further revenue through advisory fees and asset management services. Strategic partnerships with local businesses and community organizations also bolster its client base and enhance its earnings potential. Overall, the company's diversified financial services model allows it to leverage multiple revenue sources to maintain profitability.

Farmers National Banc Oh Financial Statement Overview

Summary

Farmers National Banc Oh demonstrates a robust financial position with strong profitability and revenue growth. However, there are concerns about rising operational costs and a higher reliance on debt, which could pose risks if interest rates rise.

Income Statement

Farmers National Banc Oh shows a solid performance in its income statement with consistent revenue growth and strong profitability margins. The Gross Profit Margin and Net Profit Margin are healthy, indicating efficient cost management and profitability. The Revenue Growth Rate is positive, reflecting a steady upward trajectory in sales. However, there is a noticeable decline in EBIT and EBITDA margins over the TTM period, which could suggest rising operational costs or competitive pressures.

Balance Sheet

The balance sheet of Farmers National Banc Oh is stable with a moderate Debt-to-Equity Ratio, indicating a balanced approach to leveraging. The Return on Equity is commendable, showcasing effective use of shareholder funds to generate profits. However, the Equity Ratio is relatively low, suggesting a higher reliance on debt financing, which could pose risks if interest rates rise or if the company faces financial downturns.

Cash Flow

Cash flow analysis reveals a mixed picture. While the Free Cash Flow to Net Income Ratio is strong, indicating good cash generation relative to net income, the Free Cash Flow Growth Rate is negative, which could be a concern for future liquidity. The Operating Cash Flow to Net Income Ratio is relatively low, suggesting potential challenges in converting net income into cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	277.73M	269.45M	255.20M	177.91M	154.65M	148.49M
Gross Profit	178.55M	162.12M	170.49M	158.87M	141.29M	123.25M
EBITDA	71.84M	61.83M	66.03M	77.73M	65.65M	53.39M
Net Income	54.34M	45.95M	49.93M	60.60M	51.84M	41.88M
Balance Sheet
Total Assets	5.24B	5.12B	5.08B	4.08B	4.14B	3.07B
Cash, Cash Equivalents and Short-Term Investments	1.33B	651.92M	1.33B	1.29B	1.46B	596.10M
Total Debt	235.00M	391.15M	443.66M	183.21M	87.76M	78.91M
Total Liabilities	4.77B	4.71B	4.67B	3.79B	3.67B	2.72B
Stockholders Equity	465.95M	406.03M	404.42M	292.30M	472.43M	350.10M
Cash Flow
Free Cash Flow	42.42M	54.92M	59.05M	78.94M	53.56M	45.37M
Operating Cash Flow	53.64M	66.61M	62.93M	81.50M	54.93M	49.07M
Investing Cash Flow	-111.74M	-95.13M	77.94M	-205.51M	-423.61M	-159.89M
Financing Cash Flow	-38.69M	10.59M	-112.76M	86.77M	226.85M	294.68M

Farmers National Banc Oh Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 14.45
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FMNB, the sentiment is Positive. The current price of 14.45 is above the 20-day moving average (MA) of 13.72, above the 50-day MA of 13.47, and above the 200-day MA of 13.34, indicating a bullish trend. The MACD of 0.31 indicates Negative momentum. The RSI at 69.44 is Neutral, neither overbought nor oversold. The STOCH value of 69.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FMNB.

Farmers National Banc Oh Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TCBX	77 Outperform	$558.68M	12.34	12.88%	―	9.12%	45.83%
FMNB	77 Outperform	$542.96M	9.98	12.00%	4.71%	3.93%	17.48%
CBNK	76 Outperform	$495.13M	10.16	14.72%	1.47%	24.90%	28.06%
GNTY	75 Outperform	―	―	―	―	1.61%	38.81%
BCAL	75 Outperform	$631.91M	10.06	11.93%	―	61.29%	―
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
FISI	61 Neutral	$649.61M	-13.32	-4.98%	3.85%	-28.00%	-174.60%

Farmers National Banc Oh Corporate Events

Farmers National Banc Amends Shareholder Meeting Regulations

On December 11, 2025, Farmers National Banc Corp. announced an amendment to their Code of Regulations, extending the maximum period between a record date and a shareholders’ meeting from 45 to 60 days. This change reflects the company’s efforts to provide more flexibility in scheduling shareholder meetings, potentially impacting the company’s governance and shareholder engagement strategies.

Farmers National Banc Announces Merger with Middlefield

On October 22, 2025, Farmers National Banc Corp. announced a merger agreement with Middlefield Banc Corp., where Middlefield will merge into Farmers National, making Farmers the surviving entity. This strategic move, expected to close in the first quarter of 2026, aims to enhance Farmers National’s market positioning by integrating Middlefield’s operations, subject to regulatory and shareholder approvals.

Farmers National Banc Reports Strong Q3 2025 Results

On October 22, 2025, Farmers National Banc Corp. reported strong financial results for the third quarter of 2025, with net income rising to $12.5 million, marking 171 consecutive quarters of profitability. The company announced a merger with Middlefield Banc Corp., expected to close in early 2026, which will expand its assets to over $7.4 billion and enhance its market presence in Ohio and Pennsylvania. This strategic move is anticipated to offer significant benefits for shareholders, despite challenges such as increased non-performing loans and a decline in noninterest income.