Farmers & Merchants Bancorp Inc (FMAO)
NASDAQ:FMAO
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FMAO Stock Chart & Stats
$26.78
-$0.16(-0.60%)
At close: 4:00 PM EST
$26.78
-$0.16(-0.60%)
Day’s Range― - ―
52-Week Range$22.59 - $29.83
Previous CloseN/A
Volume1.98K
Average Volume (3M)22.27K
Market Cap
$366.66M
Enterprise Value$462.53M
Total Cash (Recent Filing)$602.47M
Total Debt (Recent Filing)$268.71M
Price to Earnings (P/E)9.2
Beta0.93
Next Earnings
Jul 23, 2026EPS Estimate
0.68Next Dividend Ex-DateN/A
Dividend Yield3.18%
Share Statistics
EPS (TTM)0.70
Shares Outstanding13,748,074
10 Day Avg. Volume19,130
30 Day Avg. Volume22,273
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)0.92
Price to Sales (P/S)1.79
P/FCF Ratio9.80
Enterprise Value/Market Cap1.26
Enterprise Value/Revenue2.42
Enterprise Value/Gross Profit3.81
Enterprise Value/Ebitda9.28
Forecast
1Y Price Target
$28.50Price Target Upside6.42% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)2.82
Revenue Forecast (FY)$133.95M
Bulls Say, Bears Say
Bulls Say
Strong Revenue And Earnings GrowthVery strong TTM top-line expansion (+177%) with net income rising to ~$35.9M and improving ROE indicates durable franchise momentum. Sustained revenue growth increases scale, supports reinvestment, and provides a multi-quarter runway for margin recovery and earnings stability.
Improving Capital And Leverage MetricsA falling debt-to-equity ratio (from ~1.04 to ~0.71 TTM) alongside steady equity growth strengthens solvency and regulatory buffers. Lower leverage reduces interest burden and financial risk, increasing strategic flexibility for lending, capital returns, or absorption of loan losses over the medium term.
Solid Cash Generation And ConversionConsistent positive operating cash flow (~$34M TTM) and high FCF-to-earnings conversion (~96%) show strong earnings quality and internal funding capacity. Reliable cash generation supports dividends, organic growth and balance sheet strengthening without heavy external financing needs.
Bears Say
Margin Compression Vs Prior PeaksProfitability remains meaningfully below earlier cycle highs; net margin compression versus 2021–2022 reduces earnings power per dollar of revenue. If margins do not recover structurally, the bank’s ability to translate revenue growth into proportional profit and returns will be constrained long term.
Choppy Free-cash-flow HistoryVolatility in free cash flow—including an 8.3% TTM decline and prior weak periods—creates uncertainty in funding for dividends, buybacks, and loan growth. Variable cash conversion can force reliance on capital markets or constrain strategic investments during stress periods.
Absolute Debt Level Remains SizableAlthough leverage ratios improved, total debt (~$269M) is material in absolute terms and ROE has not returned to prior peak. Elevated absolute debt could limit flexibility for rate cycles or credit stress and slow the recovery of return-on-equity to historical levels.
Farmers & Merchants Bancorp News
FMAO FAQ
What was Farmers & Merchants Bancorp Inc’s price range in the past 12 months?
Farmers & Merchants Bancorp Inc lowest stock price was $22.59 and its highest was $29.83 in the past 12 months.
What is Farmers & Merchants Bancorp Inc’s market cap?
Farmers & Merchants Bancorp Inc’s market cap is $366.66M.
When is Farmers & Merchants Bancorp Inc’s upcoming earnings report date?
Farmers & Merchants Bancorp Inc’s upcoming earnings report date is Jul 23, 2026 which is in 84 days.
How were Farmers & Merchants Bancorp Inc’s earnings last quarter?
Farmers & Merchants Bancorp Inc released its earnings results on Apr 22, 2026. The company reported $0.7 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02.
Is Farmers & Merchants Bancorp Inc overvalued?
According to Wall Street analysts Farmers & Merchants Bancorp Inc’s price is currently Undervalued.
Does Farmers & Merchants Bancorp Inc pay dividends?
Farmers & Merchants Bancorp Inc pays a Quarterly dividend of $0.228 which represents an annual dividend yield of 3.18%. See more information on Farmers & Merchants Bancorp Inc dividends here
What is Farmers & Merchants Bancorp Inc’s EPS estimate?
Farmers & Merchants Bancorp Inc’s EPS estimate is 0.68.
How many shares outstanding does Farmers & Merchants Bancorp Inc have?
Farmers & Merchants Bancorp Inc has 13,748,074 shares outstanding.
What happened to Farmers & Merchants Bancorp Inc’s price movement after its last earnings report?
Farmers & Merchants Bancorp Inc reported an EPS of $0.7 in its last earnings report, beating expectations of $0.68. Following the earnings report the stock price went down -0.86%.
Which hedge fund is a major shareholder of Farmers & Merchants Bancorp Inc?
Currently, no hedge funds are holding shares in FMAO
What is the TipRanks Smart Score and how is it calculated?
Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology
Farmers & Merchants Bancorp Stock Smart Score
Neutral
1
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8
9
10
Analyst Consensus
Hold
Average Price Target:
$28.50 (6.42% Upside)
$28.50 (6.42% Upside)
Insider Transactions
Sold Shares
Worth $36.0K over
the Last 3 Months
the Last 3 Months
Technicals
SMA
Positive
20 days / 200 days
Momentum
-13.94%
12-Months-Change
Fundamentals
Return on Equity
9.85%
Trailing 12-Months
Asset Growth
2.86%
Trailing 12-Months
Company Description
Farmers & Merchants Bancorp Inc
Farmers & Merchants Bancorp, Inc. operates as the bank holding company for The Farmers & Merchants State Bank that provides commercial banking services to individuals and small businesses in northwest Ohio and northeast Indiana. The company offers checking, savings, and time deposit accounts; certificates of deposit; and custodial services for individual retirement and health savings accounts. It also provides commercial, agricultural, and residential mortgage, as well as consumer and credit card lending products; loans for farmland, farm equipment, and livestock; operating loans for seeds, fertilizers, and feeds; home improvement loans; and loans for autos, trucks, recreational vehicles, and motorcycles. In addition, the company offers commercial real estate loans, such as lines of credit and machinery purchase loans. Further, it provides automated teller machine or interactive teller machine services; and online and mobile banking, remote deposit capture or electronic deposit processing, and merchant credit card services. It also offers electronic transaction origination, such as wire and automated clearing house file transmittal services. Farmers & Merchants Bancorp, Inc. was founded in 1897 and is headquartered in Archbold, Ohio.
FMAO Stock 12 Month Forecast
Average Price Target
$28.50
▲(6.42% Upside)
Technical Analysis
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Ownership Overview
13.74% Insiders
9.14% Mutual Funds
2.98% Other Institutional Investors
64.70% Public Companies and
Individual Investors
Options Prices
Currently, No data available
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