Farmers & Merchants Bancorp Inc. FMAO
- Market cap
- $482.5M
- P/E
- 12.0×
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Target Price Range
Analyst price targets
Free account| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12.94 | 17.38 | 34.62 | 24.30 | 17.40 | 21.06 | 25.17 | 16.90 | 18.99 | 20.88 |
Analyst estimates 2026–2028 Powerpack |
Low Price
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| 25.00 | 44.00 | 49.99 | 39.45 | 30.85 | 32.97 | 42.14 | 30.45 | 34.15 | 29.86 |
High Price
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| 273 | 275 | 288 | 357 | 367 | 385 | 431 | 456 | 473 | 474 |
Employees
|
|||
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Revenue/Emp
|
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| 49 | 52 | 57 | 80 | 87 | 94 | 117 | 156 | 179 | 191 |
Revenue
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| 91.40% | 90.14% | 88.53% | 81.58% | 88.05% | 92.23% | 87.72% | 62.49% | 56.66% | 63.68% |
Gross Margin
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| 16 | 18 | 18 | 23 | 25 | 29 | 40 | 28 | 33 | 43 |
EBT
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| 33.24% | 34.44% | 31.85% | 28.41% | 28.99% | 31.23% | 34.61% | 18.21% | 18.18% | 22.30% |
EBT Margin
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| 12 | 13 | 15 | 18 | 20 | 23 | 33 | 23 | 26 | 33 |
Net Income
|
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| 3 | 3 | 3 | 3 | 6 | 6 | 2 | 4 | 5 | 5 |
Depreciation
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| 5.37 | 5.67 | 6.24 | 7.26 | 7.86 | 8.16 | 8.93 | 11.54 | 13.35 | 14.06 |
Revenue/Sh
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| 1.27 | 1.38 | 1.61 | 1.66 | 1.80 | 2.01 | 2.46 | 1.67 | 1.90 | 2.43 |
Earnings/Sh
|
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| 1.36 | 1.93 | 1.17 | 2.17 | 2.48 | 3.00 | 3.11 | 1.64 | 2.42 | 2.71 |
Cash Flow/Sh
|
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| (0.26) | (0.19) | (0.27) | (0.27) | (0.27) | (0.13) | (0.16) | (0.79) | (0.13) | (0.12) |
Capex/Sh
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| 1.10 | 1.74 | 0.90 | 1.90 | 2.20 | 2.87 | 2.94 | 0.85 | 2.29 | 2.59 |
Free CF/Sh
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| 13.73 | 14.64 | 15.61 | 20.87 | 22.53 | 25.68 | 22.77 | 23.46 | 24.98 | 27.35 |
Book Value/Sh
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| 9 | 9 | 9 | 11 | 11 | 12 | 13 | 13 | 13 | 14 |
Shares
|
|||
| 13.83 | 29.04 | 23.91 | 18.16 | 12.78 | 16.42 | 10.63 | 14.28 | 15.50 | 10.21 |
PE Ratio
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| 3.26 | 7.04 | 6.17 | 4.15 | 2.93 | 4.02 | 2.93 | 2.07 | 2.21 | 1.76 |
PS Ratio
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| 1.27 | 2.73 | 2.47 | 1.44 | 1.02 | 1.28 | 1.15 | 1.02 | 1.18 | 0.90 |
PB Ratio
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| 2.85 | 7.15 | 5.99 | 4.37 | 1.40 | 2.98 | 3.81 | 3.02 | 2.73 | 2.43 |
EV/Sales
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| 13.89 | 23.39 | 41.70 | 16.67 | 5.01 | 8.47 | 11.56 | 41.16 | 15.95 | 13.19 |
EV/FCF
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| 12 | 18 | 11 | 24 | 27 | 35 | 41 | 22 | 32 | 37 |
Op' Cash Flow
|
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| (2) | (2) | (3) | (3) | (3) | (2) | (2) | (11) | (2) | (2) |
Capex
|
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| 10 | 16 | 8 | 21 | 24 | 33 | 39 | 11 | 31 | 35 |
FCF
|
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| (136) | (71) | (57) | (31) | (133) | (205) | (97) | 33 | (35) | (6) |
Working Cap'
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| 10 | 44 | 32 | 73 | 48 | 93 | 192 | 294 | 273 | 265 |
Total Debt
|
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| (20) | 6 | (10) | 17 | (132) | (98) | 103 | 149 | 94 | 166 |
Net Debt
|
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| 126 | 134 | 143 | 230 | 249 | 297 | 298 | 317 | 335 | 371 |
Sh' Equity
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| 1.13% | 1.16% | 1.33% | 1.34% | 1.13% | 1.02% | 1.14% | 0.72% | 0.77% | 0.97% |
ROA
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| 9.68% | 7.98% | 8.57% | 5.75% | 13.48% | 9.28% | 6.31% | 3.81% | 4.74% | 4.95% |
ROIC
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| 9.41% | 9.70% | 10.67% | 9.78% | 8.32% | 8.53% | 10.83% | 7.33% | 7.80% | 9.32% |
ROE
|
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Farmers & Merchants Bancorp Inc. peers in Banks Regional
| Company | Market cap | P/E | Compare |
|---|---|---|---|
| PDLB Ponce Financial Group, Inc. | $490.3M | 14.3× | Compare |
| COFS ChoiceOne Financial Services, Inc. | $491.6M | 9.1× | Compare |
| WTBA West Bancorporation, Inc. | $494.8M | 12.9× | Compare |
| OBT Orange County Bancorp, Inc. | $501.2M | 10.7× | Compare |
| Company | Market cap | P/E | Compare |
|---|---|---|---|
| CZNC Citizens & Northern Corp | $457.0M | 17.4× | Compare |
| BSRR Sierra Bancorp | $514.0M | 11.6× | Compare |
| BMRC Bank of Marin Bancorp | $449.9M | 0.0× | Compare |
| RBB RBB Bancorp | $447.4M | 10.8× | Compare |
Farmers & Merchants Bancorp Inc. (FMAO) key facts
- Farmers & Merchants Bancorp Inc. (FMAO) is a Banks Regional company in the Financial sector, listed on Nasdaq.
- Farmers & Merchants Bancorp Inc.’s revenue for fiscal 2025 (year ended December 2025) was $190.7 million, up 6.41% from fiscal 2024.
- Net income was $33.3 million, or $2.43 per share (basic), a net margin of 17.3%.
- As of September 25, 2026, FMAO traded at $34.93, a market capitalization of $482.5 million.
- At that price the stock trades at 12.0× trailing-twelve-month earnings and 2.4× sales.
- Farmers & Merchants Bancorp Inc. pays an annual dividend of $0.84 per share, a yield of 4.06%, with a payout ratio of 39.4%.
- Return on equity was 9.32% and debt-to-equity 0.44.
Farmers & Merchants Bancorp Inc. (FMAO) Latest News
27 Jul
Farmers & Merchants Bancorp Inc. (FMAO) released second-quarter and year-to-date 2026 financial results. Quarterly earnings releases typically move bank stock prices and near-term sentiment.
25 Apr
Farmers & Merchants Bancorp Inc. (FMAO) achieved a record 2025 profit. Shareholders approved the board of directors and say-on-pay proposal. Record 2025 profit signals strong financial performance, enhancing investor sentiment and market position.
22 Apr
Farmers & Merchants Bancorp, Inc. (FMAO) reported first-quarter 2026 financial results. Quarterly earnings reports directly shape financial performance assessments and stock market reactions.
12 Feb
Farmers & Merchants Bancorp, Inc. reported its financial results for the fourth quarter and full year of 2025, highlighting key metrics such as net income, earnings per share, and asset growth. The bank experienced an increase in total loans and deposits, reflecting strong operational performance. Management provided insights into strategic initiatives and market conditions that influenced the results, indicating a positive outlook for future growth. Significant growth in loans and deposits suggests a strong operational performance that could positively influence future market positioning.
17 Dec
Mike Schnitkey has been promoted to Market President for Northwest Ohio at Farmers & Merchants Bank. In his new role, Schnitkey will oversee the bank's operations and strategic initiatives in the region, focusing on enhancing customer relationships and driving growth. His extensive experience in the banking sector positions him well to lead the bank's efforts in this key market. The promotion of a new market president may influence the bank's regional operations and customer engagement, but its overall impact on the company's trajectory is expected to be limited.
16 Dec
Farmers & Merchants Bancorp, Inc. has declared a cash dividend for the fourth quarter of 2025, reflecting its ongoing commitment to returning value to shareholders. The dividend is set at a specified amount per share and will be payable to shareholders on record as of a designated date. This announcement underscores the company's financial stability and growth trajectory. The dividend declaration indicates financial health but does not significantly alter the company's overall trajectory.
21 Nov
Farmers & Merchants Bancorp Inc. (FMAO) has been highlighted as one of the best income stocks to buy as of November 21st. The company is recognized for its strong dividend yield and consistent financial performance, making it an attractive option for income-focused investors. Analysts suggest that FMAO's solid fundamentals and growth potential position it well in the current market environment. FMAO's recognition as a strong income stock indicates a moderately noticeable influence on its market performance and investor sentiment.
14 Nov
Farmers & Merchants Bancorp Inc. (FMAO) has been highlighted as one of the best value stocks to buy as of November 14. The company is recognized for its strong financial performance and attractive valuation metrics, making it a compelling investment opportunity in the current market environment. Analysts suggest that FMAO's fundamentals position it well for potential growth, appealing to value-focused investors. FMAO's recognition as a value stock indicates a moderately noticeable influence on its market performance and investor sentiment.
13 Nov
Farmers & Merchants Bancorp Inc. (FMAO) has announced a special stock buyback program aimed at repurchasing up to $5 million of its common stock. This initiative is part of the company's strategy to enhance shareholder value and reflects its strong financial position. The buyback program is expected to be executed over the next 12 months, depending on market conditions and other factors. The board of directors believes that this move will benefit shareholders by reducing the number of outstanding shares and potentially increasing earnings per share. The stock buyback program is a significant strategic move that is likely to enhance shareholder value and positively influence market sentiment.
12 Nov
Farmers & Merchants Bancorp Inc. (FMAO) has announced a record quarterly dividend, reflecting strong financial performance and commitment to returning value to shareholders. The dividend increase underscores the company's robust earnings and positive outlook, positioning it favorably in the market. The record quarterly dividend indicates significant financial strength and a strategic focus on shareholder returns, likely influencing investor sentiment positively.
Farmers & Merchants Bancorp Inc. (FMAO) is highlighted as one of the best income stocks to buy for November 12, indicating strong potential for income generation. The company is recognized for its solid financial performance and attractive dividend yield, making it a favorable option for income-focused investors. Analysts suggest that FMAO's consistent earnings and strategic positioning in the banking sector contribute to its appeal as a reliable investment choice. FMAO's recognition as a top income stock suggests a moderately noticeable influence on its market performance and investor sentiment.
31 Oct
Farmers & Merchants Bancorp Inc. has appointed Amy Cover as the new Chief Marketing & Experience Officer of F&M Bank. Cover brings over 20 years of experience in marketing and customer experience, having previously held leadership roles at various financial institutions. Her appointment is expected to enhance the bank's marketing strategies and customer engagement initiatives. The appointment of a new Chief Marketing & Experience Officer may moderately influence the bank's marketing effectiveness and customer relations.
29 Oct
Farmers & Merchants Bancorp Inc. (FMAO) reported a robust 37.5% growth in earnings, reinforcing positive investor sentiment and bullish narratives surrounding the company. This significant increase in earnings highlights the bank's strong financial performance and potential for future growth, attracting attention from investors and analysts alike. The substantial earnings growth is likely to significantly influence investor sentiment and the company's future performance.
27 Oct
Farmers & Merchants Bancorp, Inc. reported its financial results for the third quarter and year-to-date of 2025, highlighting key metrics such as net income, asset growth, and loan performance. The bank experienced an increase in total assets and deposits, alongside a rise in net interest income. The management emphasized their strategic initiatives aimed at enhancing operational efficiency and customer service. Overall, the results reflect a positive trajectory in the bank's financial health and market position. The reported financial results indicate significant growth and strategic initiatives that could positively influence the company's future performance.
20 Oct
F&M Bank has appointed Mike Benson as Senior Vice President and Senior Small Business Banking Manager. Benson brings over 20 years of experience in banking and small business lending, having previously held leadership roles at various financial institutions. His expertise is expected to enhance F&M Bank's commitment to supporting small businesses and driving growth in the community. Benson's appointment may positively influence small business banking operations, but its overall impact on the company's trajectory is expected to be limited.
16 Oct
Farmers & Merchants Bancorp Inc. (FMAO) reported record earnings for the third quarter of 2025, showcasing significant growth in net income and improved financial metrics. The bank attributed this success to increased loan demand and effective cost management strategies. Additionally, the company highlighted its commitment to community engagement and sustainable practices, which have contributed to its positive performance. Overall, the results reflect a strong operational foundation and a favorable market position. Record earnings and growth in net income indicate a significant positive shift in financial performance and market positioning.
Farmers & Merchants Bancorp Inc. (FMAO) is facing challenges as its profit margins have dipped, raising concerns about its previously bullish profitability narrative. The decline in margins could signal potential difficulties in maintaining growth and profitability, prompting scrutiny from investors and analysts. This situation may impact the bank's competitive positioning and overall market sentiment. The margin dip indicates a moderately noticeable influence on financial performance and market sentiment.
3 Oct
Farmers & Merchants Bancorp Inc. (FMAO) has been identified as a top value stock to consider for investment on October 3rd. The company's strong fundamentals, including solid earnings growth and a favorable valuation, make it an attractive option for investors seeking value opportunities in the current market. Analysts highlight its potential for continued performance improvement, driven by strategic initiatives and a robust financial position. The identification of FMAO as a top value stock suggests significant potential for future performance improvements and investor interest.
Farmers & Merchants Bancorp Inc. (FMAO) has been identified as a top value stock to consider for investment on October 2nd. The company's strong fundamentals, including solid earnings growth and a favorable valuation, position it well in the current market. Analysts highlight its potential for continued performance improvement, making it an attractive option for investors seeking value opportunities. Strong fundamentals and favorable valuation indicate significant potential for future performance improvement.
Farmers & Merchants Bancorp Inc. (FMAO) is highlighted as one of the best income stocks to buy for October 3rd, indicating strong potential for dividend income and stability in the current market environment. The bank's solid financial performance and commitment to returning value to shareholders through dividends make it an attractive option for income-focused investors. Strong potential for dividend income and stability suggests significant impact on future performance.
30 Sep
Farmers & Merchants Bancorp, Inc. has announced its 31st consecutive annual increase in dividend, reflecting the company's commitment to returning value to shareholders. The increase demonstrates the bank's strong financial performance and stability, reinforcing investor confidence in its operations and future growth potential. A consecutive annual increase in dividends indicates strong financial health and can significantly enhance investor sentiment and market performance.
12 Sep
Farmers & Merchants Bancorp Inc. (FMAO) has been highlighted as one of the best income stocks to buy as of September 12th. The company is recognized for its strong dividend yield and solid financial performance, making it an attractive option for income-focused investors. Analysts suggest that FMAO's consistent earnings growth and commitment to returning value to shareholders through dividends position it well in the current market environment. Strong dividend yield and consistent earnings growth indicate significant potential for future performance.
11 Sep
Curtis Metz has been promoted to Market President for Northern Indiana at F&M Bank, a subsidiary of Farmers & Merchants Bancorp Inc. (FMAO). Metz, who has over 20 years of banking experience, will oversee the bank's operations and growth strategies in the region. His previous roles include serving as the Senior Vice President and Commercial Banking Manager at F&M Bank. The promotion is part of the bank's strategy to enhance its leadership team and expand its market presence in Northern Indiana. The promotion of a seasoned banking professional to a key leadership position may positively influence the bank's operations and market positioning.
14 Aug
Farmers & Merchants Bancorp Inc. has authorized a $45 million increase to its existing share repurchase program, reflecting the company's commitment to enhancing shareholder value. This decision comes as part of the bank's ongoing strategy to manage its capital effectively and return excess capital to shareholders. The repurchase program is expected to be executed in accordance with market conditions and regulatory requirements. The increase in the share repurchase program may positively influence investor sentiment and financial performance, but its overall impact is expected to be limited.
7 Aug
Farmers & Merchants Bancorp, Inc. has announced the opening of its second full-service office in Michigan, expanding its presence in the state. This new location aims to enhance customer service and provide a wider range of banking products to local residents and businesses. The bank's strategic growth plan includes increasing its footprint in key markets, and this office is part of that initiative. The opening of a new office may moderately influence the bank's market presence and customer base in Michigan.
28 Jul
Farmers & Merchants Bancorp, Inc. reported its financial results for the second quarter and year-to-date of 2025, highlighting key metrics such as net income, total assets, and loan growth. The bank experienced an increase in deposits and maintained a strong capital position, reflecting its ongoing commitment to serving its community and stakeholders. Management expressed optimism about future growth opportunities and strategic initiatives aimed at enhancing operational efficiency. The financial results indicate moderate growth and stability, which may influence investor sentiment and operational aspects but are not expected to drastically change the company's trajectory.
17 Jul
Farmers & Merchants Bancorp reported record second quarter 2025 earnings with net income of $23.1 million, a 5.9% increase from the previous year. Diluted earnings per share rose 12.1% to $32.94. The bank's net interest income increased by 6.1% to $53.9 million, and the efficiency ratio improved to 44.88%. The company declared a mid-year cash dividend of $9.30 per share, marking 90 consecutive years of dividends and 60 years of increases. Capital ratios strengthened, with a total risk-based capital ratio of 15.35%. Credit quality remained solid with no non-accrual loans. CEO Kent Steinwert highlighted strong liquidity and a conservative approach to lending amid economic challenges. Record earnings and strong capital ratios indicate significant positive momentum for future performance.
25 Jun
F&M Bank has appointed Ahmed Alomari to its Board of Directors, enhancing its leadership team. Alomari brings extensive experience in banking and finance, having held various senior roles in the industry. His appointment is expected to contribute positively to the bank's strategic direction and governance. The addition of a seasoned professional to the board may moderately influence the bank's strategic decisions and overall performance.
21 May
F&M Bank has promoted Eric D. Faust to Executive Vice President, recognizing his contributions and leadership within the organization. Faust has been with the bank for over 20 years, holding various positions that have significantly impacted its growth and operations. His promotion is expected to enhance the bank's strategic direction and operational efficiency. The promotion of a long-serving executive may positively influence operational performance and strategic initiatives.
28 Apr
Farmers & Merchants Bancorp, Inc. reported its financial results for the first quarter of 2025, highlighting key metrics such as net income, total assets, and loan growth. The bank experienced an increase in deposits and improved net interest margin, contributing to overall positive performance. Management expressed optimism about future growth and strategic initiatives aimed at enhancing shareholder value. The reported financial results indicate moderate growth and positive trends that may influence the company's performance but are not expected to drastically change its trajectory.