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FMAO 
Farmers & Merchants Bancorp Inc (FMAO)
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Upturn Advisory Summary
01/09/2026: FMAO (1-star) is a SELL. SELL since 5 days. Simulated Profits (-8.03%). Updated daily EoD!
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
3 Analysts rated it
Very few follow this stock; limited insights, higher-risk early investing.
1 Year Target Price $27
1 Year Target Price $27
| 0 | Strong Buy |
| 0 | Buy |
| 3 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -17.38% | Avg. Invested days 33 | Today’s Advisory SELL |
Upturn Star Rating | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 01/09/2026 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 346.22M USD | Price to earnings Ratio 10.81 | 1Y Target Price 27 |
Price to earnings Ratio 10.81 | 1Y Target Price 27 | ||
Volume (30-day avg) 3 | Beta 0.85 | 52 Weeks Range 20.34 - 28.14 | Updated Date 01/9/2026 |
52 Weeks Range 20.34 - 28.14 | Updated Date 01/9/2026 | ||
Dividends yield (FY) 3.54% | Basic EPS (TTM) 2.33 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 27.96% | Operating Margin (TTM) 40.98% |
Management Effectiveness
Return on Assets (TTM) 0.94% | Return on Equity (TTM) 9.15% |
Valuation
Trailing PE 10.81 | Forward PE 15.92 | Enterprise Value 470700704 | Price to Sales(TTM) 3.04 |
Enterprise Value 470700704 | Price to Sales(TTM) 3.04 | ||
Enterprise Value to Revenue 5.06 | Enterprise Value to EBITDA - | Shares Outstanding 13749944 | Shares Floating 12318757 |
Shares Outstanding 13749944 | Shares Floating 12318757 | ||
Percent Insiders 8.7 | Percent Institutions 27.74 |
Upturn AI SWOT
Farmers & Merchants Bancorp Inc
Company Overview
History and Background
Farmers & Merchants Bancorp Inc. (FMBM) is a bank holding company founded in 1917. It operates primarily as a community bank, serving individuals and businesses in its local markets. Over its history, FMBM has focused on steady, organic growth and maintaining strong customer relationships. Significant milestones would include its establishment, expansion into new branches within its operating regions, and its continued independence as a community-focused institution.
Core Business Areas
- Community Banking: Provides a full range of banking services including checking and savings accounts, certificates of deposit, personal and commercial loans, business lines of credit, and mortgage lending. This is their primary focus, emphasizing personalized service and local decision-making.
- Wealth Management/Trust Services: Offers services such as estate planning, investment management, and trust administration to help customers manage and grow their assets.
Leadership and Structure
Farmers & Merchants Bancorp Inc. is led by a Board of Directors and an executive management team. The organizational structure is typical of a community bank, with a focus on branch operations, loan origination, and customer service departments.
Top Products and Market Share
Key Offerings
- Checking and Savings Accounts: Standard deposit accounts offering liquidity and interest. Competitors include virtually all other financial institutions, from large national banks to other community banks and credit unions.
- Commercial and Industrial Loans: Loans provided to businesses for working capital, equipment purchases, and expansion. Competitors include other local banks, regional banks, and national financial institutions.
- Residential Mortgages: Financing for home purchases and refinancing. Competitors include mortgage companies, credit unions, and other banks.
Market Dynamics
Industry Overview
The community banking sector in the US is characterized by intense competition from larger national banks, credit unions, and an increasing number of fintech companies offering specialized financial services. Regulatory compliance is a significant factor. The industry is also influenced by interest rate environments and the demand for digital banking services.
Positioning
Farmers & Merchants Bancorp Inc. positions itself as a trusted, local financial partner. Its competitive advantages lie in its deep understanding of local markets, personalized customer service, and agility in decision-making compared to larger institutions. However, it faces challenges in competing with the broader product offerings and digital capabilities of larger banks.
Total Addressable Market (TAM)
The TAM for banking services in the United States is in the trillions of dollars. Farmers & Merchants Bancorp Inc. operates within a much smaller, localized TAM, focusing on the specific geographic regions it serves. Its positioning is that of a significant local player within its defined market, rather than a national competitor.
Upturn SWOT Analysis
Strengths
- Strong community ties and customer loyalty.
- Personalized customer service.
- Local decision-making which can lead to faster loan approvals.
- Stable and experienced management team.
- Focus on core banking services.
Weaknesses
- Limited geographic reach.
- Potentially smaller technology budgets compared to larger banks.
- Less brand recognition outside of its core markets.
- Dependence on local economic conditions.
- Slower adoption of cutting-edge digital technologies.
Opportunities
- Expansion into adjacent geographic areas.
- Leveraging technology to enhance digital offerings.
- Strategic partnerships or acquisitions of smaller institutions.
- Growth in specific business lending segments.
- Increased demand for personalized financial advice.
Threats
- Intensifying competition from national banks and credit unions.
- Disruption from fintech companies.
- Changes in interest rate policies impacting net interest margins.
- Cybersecurity risks and data breaches.
- Increasing regulatory burden.
Competitors and Market Share
Key Competitors
- First Citizens BancShares, Inc. (FCNCA)
- Synovus Financial Corp. (SNV)
- First Community Corporation (FCCO)
Competitive Landscape
Farmers & Merchants Bancorp Inc.'s advantages lie in its deep local roots and personalized service. However, it faces significant disadvantages in scale, technological investment, and brand reach compared to larger competitors like First Citizens BancShares (FCNCA) and Synovus Financial Corp. (SNV).
Growth Trajectory and Initiatives
Historical Growth: Historically, Farmers & Merchants Bancorp Inc. has likely experienced steady, albeit modest, growth driven by its core banking operations and expansion within its service areas. Growth in assets, deposits, and loan portfolios would be key indicators.
Future Projections: Future projections for FMBM would typically be based on analyst estimates, if available, or derived from the company's strategic plans. These might include targets for asset growth, loan origination volume, and profitability improvements, often tied to economic conditions and market expansion.
Recent Initiatives: Recent initiatives could include investments in digital banking platforms, new product launches, branch network optimization, or targeted marketing campaigns to attract specific customer segments.
Summary
Farmers & Merchants Bancorp Inc. is a well-established community bank with a strong local presence and loyal customer base, benefiting from personalized service and local decision-making. However, it faces significant challenges from larger competitors and the evolving digital landscape, which may limit its growth potential and necessitate greater investment in technology to remain competitive.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company filings with the U.S. Securities and Exchange Commission (SEC)
- Financial news and data providers (e.g., Yahoo Finance, Bloomberg)
- Industry analysis reports
Disclaimers:
This analysis is based on publicly available information and is intended for informational purposes only. It does not constitute financial advice. Market share data is illustrative and may vary significantly based on specific market definitions and reporting periods. Farmers & Merchants Bancorp Inc. is a relatively small-cap company, and its publicly available data may be less extensive than for larger corporations.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Farmers & Merchants Bancorp Inc
Exchange NASDAQ | Headquaters Archbold, OH, United States | ||
IPO Launch date 2004-11-23 | President, CEO & Director Mr. Lars B. Eller | ||
Sector Financial Services | Industry Banks - Regional | Full time employees 476 | Website https://www.fm.bank |
Full time employees 476 | Website https://www.fm.bank | ||
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, Northeast Indiana, and Southeast Michigan. 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 lending products; loans for farm land, 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, bill-pay, on-line statement opportunities, and remote deposit capture or electronic deposit processing. Additionally, the company 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.
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