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$22.77 - $29.83
Previous CloseN/A
Volume1.98K
Average Volume (3M)22.27K
Market Cap
$390.47M
Enterprise Value$479.16M
Total Cash (Recent Filing)$357.22M
Total Debt (Recent Filing)$268.71M
Price to Earnings (P/E)10.9
Beta0.93
Next Earnings
Jul 16, 2026EPS Estimate
0.67Next Dividend Ex-DateN/A
Dividend Yield3.18%
Share Statistics
EPS (TTM)2.61
Shares Outstanding13,768,188
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 Cap1.23
Enterprise Value/Revenue2.50
Enterprise Value/Gross Profit3.95
Enterprise Value/Ebitda9.62
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 $22.77 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 $390.47M.
When is Farmers & Merchants Bancorp Inc’s upcoming earnings report date?
Farmers & Merchants Bancorp Inc’s upcoming earnings report date is Jul 16, 2026 which is in 33 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 $0.23 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 0.67.
How many shares outstanding does Farmers & Merchants Bancorp Inc have?
Farmers & Merchants Bancorp Inc has 13,768,188 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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3
4
5
6
7
8
9
10
Analyst Consensus
Hold
Average Price Target:
$28.50 (6.42% Upside)
$28.50 (6.42% Upside)
Insider Transactions
Sold Shares
Worth $1.9M over
the Last 3 Months
the Last 3 Months
News Sentiment
Very Bullish
Bullish news 100%
Bearish news 0%
Bearish news 0%
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. functions as the holding company for The Farmers & Merchants State Bank, offering a broad spectrum of commercial banking solutions. The bank serves individual customers and small businesses throughout northwest Ohio and northeast Indiana. Its offerings include various deposit accounts such as checking, savings, and time deposits, along with custodial services for Individual Retirement Accounts (IRAs) and Health Savings Accounts (HSAs). The company's lending products are extensive, covering commercial, agricultural, and residential mortgages. Specifically, it provides financing for agricultural land, farm equipment, livestock, and operational expenses like seeds and fertilizers. Consumer loans are available for home improvements, vehicles (automobiles, trucks, recreational vehicles, and motorcycles), and credit cards. Additionally, it offers commercial real estate loans, including lines of credit and machinery purchase financing. For customer convenience, Farmers & Merchants Bancorp, Inc. provides Automated Teller Machine (ATM) and Interactive Teller Machine (ITM) access. It also supports digital banking through online and mobile platforms, remote deposit capture, and merchant credit card processing. Electronic transaction services, such as wire transfers and Automated Clearing House (ACH) file transmissions, are also available. The company 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
4.19% Insiders
9.26% Mutual Funds
5.88% Other Institutional Investors
70.41% Public Companies and
Individual Investors
Options Prices
Currently, No data available
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