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Farmers National Banc Oh
(NASDAQ:FMNB)
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Rating:72Outperform
Price Target:
$15.50
▲(9.39% Upside)
Action:Reiterated
Date:05/09/26
FMNB scores well on valuation (low P/E and strong dividend) and shows supportive technical momentum (above key moving averages with positive MACD). Financial performance is solid but tempered by uneven revenue growth and softer free-cash-flow trends, while recent M&A-driven expansion is positive but carries integration and credit-quality watch items.
Positive Factors
Scale expansion via Middlefield acquisition
The Middlefield deal meaningfully increases franchise scale and geographic reach, deepening presence in Columbus and broader Ohio/Pennsylvania markets. Larger deposit and loan pools improve funding diversity and revenue opportunities, supporting durable franchise competitiveness and future cross-sell.
Negative Factors
Integration costs and elevated NPLs
Integration expenses and a modest uptick in nonperforming loans from the acquisition raise near-term expense and credit reserve needs. If credit deterioration persists or integration delays occur, profitability and capital could be pressured, complicating realization of acquisition synergies.
Read all positive and negative factors
Positive Factors
Negative Factors
Scale expansion via Middlefield acquisition
The Middlefield deal meaningfully increases franchise scale and geographic reach, deepening presence in Columbus and broader Ohio/Pennsylvania markets. Larger deposit and loan pools improve funding diversity and revenue opportunities, supporting durable franchise competitiveness and future cross-sell.
Read all positive factors
Farmers National Banc Oh Key Performance Indicators (KPIs)
Any
Revenue By Segment
Shows how much revenue each business segment contributes, highlighting areas of strength and potential growth within the company’s diverse operations.
Shows how much revenue each business segment contributes, highlighting areas of strength and potential growth within the company’s diverse operations.
Data provided by:
The Fly
The FlyFarmers National Banc Oh (FMNB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$847.37M
Dividend Yield4.95%
Average Volume (3M)487.26K
Price to Earnings (P/E)9.9
Beta (1Y)0.72
Revenue Growth7.00%
EPS Growth12.93%
CountryUS
Employees682
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.45
Shares Outstanding59,215,020
10 Day Avg. Volume584,386
30 Day Avg. Volume487,257
Financial Highlights & Ratios
PEG Ratio0.49
Price to Book (P/B)1.03
Price to Sales (P/S)1.84
P/FCF Ratio9.61
Enterprise Value/Market Cap1.13
Enterprise Value/Revenue3.39
Enterprise Value/Gross Profit5.21
Enterprise Value/Ebitda12.65
Forecast
1Y Price Target
$16.00Price Target Upside12.91% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)1.51
Revenue Forecast (FY)$269.55M
Farmers National Banc Oh Business Overview & Revenue Model
Company Description
Farmers National Banc Corp. operates as a diversified financial services holding company, engaging in banking, trust administration, retirement planning, insurance, and financial management. It provides a comprehensive range of commercial and cons...
How the Company Makes Money
FMNB primarily makes money through (1) net interest income and (2) noninterest income. Net interest income is generated by earning interest on loans and other interest-earning assets (such as investment securities) and paying interest on funding s...
Farmers National Banc Oh Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
67
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 283.13M | 271.83M | 269.45M | 255.20M | 177.91M | 154.65M |
| Gross Profit | 184.10M | 173.41M | 162.12M | 170.49M | 158.87M | 141.29M |
| EBITDA | 75.83M | 71.82M | 61.83M | 66.03M | 77.73M | 65.65M |
| Net Income | 57.27M | 54.59M | 45.95M | 49.93M | 60.60M | 51.84M |
Balance Sheet | ||||||
| Total Assets | 7.18B | 5.25B | 5.12B | 5.08B | 4.08B | 4.14B |
| Cash, Cash Equivalents and Short-Term Investments | 38.22M | 1.36B | 651.92M | 1.33B | 1.29B | 1.46B |
| Total Debt | 446.51M | 367.73M | 391.15M | 443.66M | 183.21M | 87.76M |
| Total Liabilities | 6.41B | 4.76B | 4.71B | 4.67B | 3.79B | 3.67B |
| Stockholders Equity | 766.89M | 485.73M | 406.03M | 404.42M | 292.30M | 472.43M |
Cash Flow | ||||||
| Free Cash Flow | 47.10M | 52.18M | 54.92M | 59.05M | 78.94M | 53.56M |
| Operating Cash Flow | 51.97M | 60.04M | 66.61M | 62.93M | 81.50M | 54.93M |
| Investing Cash Flow | -891.00K | -78.85M | -95.13M | 77.94M | -205.51M | -423.61M |
| Financing Cash Flow | 21.77M | 25.43M | 10.59M | -112.76M | 86.77M | 226.85M |
Farmers National Banc Oh Technical Analysis
Positive
14.17
Price Trends
14.12
Positive
13.62
Positive
13.42
Positive
Market Momentum
0.07
Positive
50.01
Neutral
21.44
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 14.17 is below the 20-day moving average (MA) of 14.42, above the 50-day MA of 14.12, and above the 200-day MA of 13.42, indicating a neutral trend. The MACD of 0.07 indicates Positive momentum. The RSI at 50.01 is Neutral, neither overbought nor oversold. The STOCH value of 21.44 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 Risk Analysis
Farmers National Banc Oh disclosed 36 risk factors in its most recent earnings report. Farmers National Banc Oh reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Farmers National Banc Oh Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $571.22M | 10.50 | 13.94% | 1.53% | 15.54% | 33.70% | |
78 Outperform | $664.53M | 11.15 | 10.59% | ― | 12.65% | 304.57% | |
76 Outperform | $764.82M | 10.00 | 12.72% | 3.89% | 41.30% | ― | |
72 Outperform | $847.37M | 9.89 | 10.62% | 4.95% | 7.00% | 12.93% | |
71 Outperform | $661.19M | 8.69 | 12.61% | ― | 12.81% | 35.69% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
FMNB
Farmers National Banc Oh
14.31
0.77
5.66%
FISI
Financial Institutions
38.85
12.35
46.58%
BCAL
California BanCorp
20.66
4.49
27.78%
CBNK
Capital Bancorp
35.07
-0.06
-0.17%
TCBX
Third Coast Bancshares
39.85
2.88
7.79%
Farmers National Banc Oh Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Farmers National Banc Reports Strong First-Quarter 2026 Results
Positive
Apr 22, 2026
Farmers National Banc Corp., a community-focused financial services provider in Ohio and Pennsylvania, expanded its scale to $7.18 billion in assets by March 31, 2026, driven largely by its acquisition of Middlefield Banc Corp. on March 2, 2026. T...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Farmers National Banc Shareholders Approve 2026 Equity Plan
Positive
Apr 16, 2026
At its April 16, 2026 annual meeting, Farmers National Banc Corp. shareholders approved a 2026 Equity Incentive Plan authorizing up to 1,000,000 shares of common stock for equity-based awards to non-employee directors, officers and other eligible ...
Business Operations and StrategyExecutive/Board Changes
Farmers National Banc Hires New Chief Banking Officer
Positive
Mar 17, 2026
On March 17, 2026, Farmers National Banc Corp. announced that it had hired Todd J. Simko as Senior Executive Vice President and Chief Banking Officer, effective March 16, 2026, bringing more than 25 years of banking leadership experience from role...
Business Operations and StrategyM&A TransactionsShareholder Meetings
Farmers National Banc Shareholders Approve Share Increase, Merger
Positive
Feb 10, 2026
On February 10, 2026, Farmers National Banc Corp. shareholders approved an amendment to increase the company’s authorized common shares from 50 million to 75 million, clearing the way for additional equity issuance. At the same special meeti...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.