Farmers National Banc

FMNB · NASDAQ

$15.47+$0.27 (+1.78%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $15.20

FMNB analyst rating

HoldConsensus of 2 analysts over the last 12 months. 0% rate it a buy.

Strong buy0
Buy0
Hold2
Underperform0
Sell0

12-month price target · 5 analysts

Average $17.34 (+12.1% upside)

Low: $16.16
Now: $15.47
High: $18.90

Upgrades and downgrades

The latest rating actions, newest first

FMNB analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Piper Sandler	Apr 23, 2026	Maintains	Neutral	$14.00 → $16.00	64%
Piper Sandler	Jan 29, 2026	Maintains	Neutral	$16.00 → $14.00	64%
Piper Sandler	Nov 21, 2025	Initiates	Neutral	$14.00	0%

The case for and against

Updated Jul 21, 2026

Bull case

Farmers National Banc is expected to see low-to-MSD organic balance sheet growth through 2026, with a 45% increase in EOP loans and stable organic loan balances. There is a focus on integrating the recently closed MBCN acquisition, supporting organic growth, and building capital. Further net interest margin expansion is anticipated, with a projected NIM of 3.21% in 2Q26 and potential upside as FMNB leverages its product set onto MBCN's customer base. There are risks to achieving the price target, including credit quality deterioration, slowing balance sheet and fee income growth, NIM performance, operating expense increases, and M&A execution.

Bear case

Farmers National Banc is expected to see a meaningful net interest margin expansion in the second quarter due to a larger asset earning base. However, the company's non-performing loans have increased due to the addition of MBCN during the quarter. While the company is adding new talent and projecting sustainable core fee growth, in part due to cross-selling opportunities in MBCN's markets, there is potential for higher net charge offs and operating expenses in the future.

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