Raymond James Downgrades Farmers National Banc to Market Perform

Raymond James downgraded Farmers National Banc Corp /OH/ (Nasdaq: FMNB) to market perform from outperform before the open on Monday, Nov. 2, 2026. The firm did not publish a price target with the change.

The move was a single downgrade with no upgrades, initiations or target changes on the stock. Before the move, the stock had one firm covering it in the past year, and that firm rated it neutral with a $17.00 price target.

Stock move

The stock closed at $15.64 on Friday, Oct. 30, and had risen 2.0% over the 20 sessions to that close. On Monday it rose 1.5% to close at $15.87, while the S&P 500 ETF fell 0.5%.

Company figures

Farmers National Banc reported net income of $54.6 million for 2025, up 19% from a year earlier, on revenue of $188.6 million. Diluted earnings per share were $1.45, compared with $1.22 in 2024. For the quarter ended June 30, 2026, net income was $23.0 million, up 66% from a year earlier, and diluted earnings per share were $0.39.

The company filed an 8-K on Wednesday, Oct. 28, 2026, that included results of operations and financial condition, five days before the rating change. The filing is available on SEC EDGAR.