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Farmers National Banc Oh
(NASDAQ:FMNB)
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Rating:75Outperform
Price Target:
$18.00
▲(18.50% Upside)
Action:Reiterated
Date:08/07/26
FMNB scores well primarily on solid financial performance (healthy profitability and strong cash conversion with improved leverage) and supportive valuation (low P/E and high dividend yield). Technicals add a positive tailwind with price above key moving averages and positive MACD, while the main offset is execution risk from the step-up in balance sheet size and acquisition integration.
Positive Factors
Strong cash conversion
Consistently high free cash flow relative to net income (~94%) provides durable internal funding for dividends, loan growth, and technology conversion costs. Strong cash conversion enhances financial flexibility and lowers reliance on external financing across business cycles.
Negative Factors
Integration and execution risk
A rapid balance-sheet step-up from the acquisition raises operational, systems and cultural integration risk. Execution missteps or prolonged core technology conversion could increase costs, disrupt funding or loan origination, and temper expected margin gains over several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash conversion
Consistently high free cash flow relative to net income (~94%) provides durable internal funding for dividends, loan growth, and technology conversion costs. Strong cash conversion enhances financial flexibility and lowers reliance on external financing across business cycles.
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
$966.33M
Dividend Yield4.17%
Average Volume (3M)504.72K
Price to Earnings (P/E)11.3
Beta (1Y)0.71
Revenue Growth16.77%
EPS Growth9.64%
CountryUS
Employees706
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.44
Shares Outstanding59,247,574
10 Day Avg. Volume428,474
30 Day Avg. Volume504,723
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$16.00Price Target Upside5.33% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)1.53
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 (fee) income. Net interest income is generated by earning interest and fees on loans and other interest-earning assets (such as investment securities) and paying intere...
Farmers National Banc Oh Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
64
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 286.15M | 271.83M | 269.45M | 255.20M | 177.91M | 154.65M |
| Gross Profit | 189.94M | 173.41M | 162.12M | 170.49M | 158.87M | 141.29M |
| EBITDA | 79.75M | 71.82M | 61.83M | 66.03M | 77.73M | 65.65M |
| Net Income | 59.63M | 54.59M | 45.95M | 49.93M | 60.60M | 51.84M |
Balance Sheet | ||||||
| Total Assets | 7.14B | 5.25B | 5.12B | 5.08B | 4.08B | 4.14B |
| Cash, Cash Equivalents and Short-Term Investments | 164.75M | 1.36B | 651.92M | 1.33B | 1.29B | 1.46B |
| Total Debt | 455.37M | 367.73M | 391.15M | 443.66M | 183.21M | 87.76M |
| Total Liabilities | 6.36B | 4.76B | 4.71B | 4.67B | 3.79B | 3.67B |
| Stockholders Equity | 783.95M | 485.73M | 406.03M | 404.42M | 292.30M | 472.43M |
Cash Flow | ||||||
| Free Cash Flow | 60.61M | 52.18M | 54.92M | 59.05M | 78.94M | 53.56M |
| Operating Cash Flow | 64.45M | 60.04M | 66.61M | 62.93M | 81.50M | 54.93M |
| Investing Cash Flow | 77.83M | -78.85M | -95.13M | 77.94M | -205.51M | -423.61M |
| Financing Cash Flow | -68.27M | 25.43M | 10.59M | -112.76M | 86.77M | 226.85M |
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 |
|---|---|---|---|---|---|---|---|
75 Outperform | $966.33M | 11.33 | 9.53% | 4.48% | 16.77% | 9.64% | |
75 Outperform | $613.17M | 10.97 | 13.85% | 1.33% | 11.76% | 26.80% | |
74 Outperform | $697.02M | 11.66 | 10.44% | ― | -2.10% | 110.95% | |
72 Outperform | $768.29M | 9.79 | 12.56% | ― | 16.80% | 24.02% | |
69 Neutral | $822.74M | 10.21 | 13.09% | 3.10% | 46.45% | ― | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
FMNB
Farmers National Banc Oh
16.31
2.91
21.72%
FISI
Financial Institutions
41.75
16.83
67.54%
BCAL
California BanCorp
21.68
5.94
37.69%
CBNK
Capital Bancorp
37.64
5.68
17.77%
TCBX
Third Coast Bancshares
46.13
7.53
19.51%
Farmers National Banc Oh Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Farmers National Banc posts strong second-quarter 2026 results
Positive
Jul 22, 2026
Farmers National Banc Corp. reported solid second-quarter 2026 results on July 22, 2026, extending its streak to 174 consecutive profitable quarters. Net income rose to $23.0 million, or $0.39 per diluted share, from $13.9 million, or $0.37 per sh...
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.