Farmers National Banc Corp. (FMNB) Stock

Farmers National Banc Corp. (FMNB) is a Financials stock trading at $15.69 (as of 2026-08-21), with a market capitalization of $929.59M and a trailing P/E of 13.7. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Farmers National Banc Corp. is a financial holding company that provides commercial and retail banking products, personal and corporate trust services, retirement services, and insurance and financial management offerings. It serves customers through locations in northeastern Ohio and one in southwestern Pennsylvania.

Understand Farmers National Banc Corp.: how it makes money

Farmers National Banc Corp. provides commercial and retail banking, lending, and related services (including checking and deposits, loans, trust and retirement consulting, insurance, credit cards, and brokerage), and it makes money primarily through interest and fee-based income from these customer financial services.

Because it is a bank, results depend on how its loan book performs and how lending is funded, with key operating signals coming from loan credit quality (Non-Performing Loans, Annualized Net Charge-offs as a Percentage of Average Loans) and balance-sheet funding intensity (Loan to Deposit Ratio).

Business quality (Solid): For the quarter ended 2026-03-31, the company reported an operating margin of 24.7%, but no reportable segment revenue breakdown was provided, and gross margin is not available in the provided data.

Valuation: At 10× earnings, FMNB trades 23% below the Banking average (13×). Note: one-time items can distort reported P/E.

Bull case

Diversification into wealth management: Wealth Management Assets Under Management are 4.2 USD_B, indicating meaningful activity in non-lending customer services.
Deposit-funded lending level: Loan to Deposit Ratio is 75.9%, which is a key measure of how much of the loan book is supported by deposits.

Bear case

Credit quality risk is always a swing factor: Non-Performing Loans are 0.06 USD_B and Annualized Net Charge-offs as a Percentage of Average Loans are 0.07%, both pointing to the ongoing importance of loan performance.
Some deposits may be more exposed: Uninsured Deposits Ratio is 15.0%, meaning a portion of deposits is outside deposit insurance coverage (as measured by this ratio).
Early stress can build before it hits loss metrics: Early Stage Delinquencies (30-89 Days Delinquent) are 0.01 USD_B, which can precede worse credit outcomes if it deteriorates.

Valuation — source: SEC EDGAR (first-party)
Price	$15.69
Market Cap	$929.59M
P/E Ratio	13.7
EV / EBITDA	14.5
Price / Book	1.19
Price / Sales	2.79
FCF Yield	8.7%
DCF Value (model)	$22.81
DCF Upside vs Price	45.4%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$279.92M
Net Margin	19.5%
Revenue Growth (YoY)	3.9%
EPS Growth (YoY)	18.7%
FCF Growth (YoY)	-5.0%

Valuation vs Sector & Industry
Stock P/E	13.7
Sector P/E (Financials)	15.1
Industry P/E (Banking)	13.0
vs Sector	-9.5%
vs Industry	5.4%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($55.65M)
Institutional Holders Tracked	10

Company
Sector	Financials
Industry	Banking
CEO	Kevin J. Helmick
Employees	682
Country	US
IPO Date	1999-01-04

Related Companies (Business model: Universal / Commercial Bank; 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.