Farmers & Merchants Bancorp operates as the bank holding company for Farmers & Merchants Bank of Central California that provides a range of banking services to businesses and individuals primarily in the mid Central Valley of California. More Details
No risks detected for FMCB from our risk checks.
Flawless balance sheet, good value and pays a dividend.
Share Price & News
How has Farmers & Merchants Bancorp's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: FMCB is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: FMCB's weekly volatility (3%) has been stable over the past year.
7 Day Return
1 Year Return
Return vs Industry: FMCB exceeded the US Banks industry which returned -17% over the past year.
Return vs Market: FMCB underperformed the US Market which returned 19.7% over the past year.
Long-Term Price Volatility Vs. Market
How volatile is Farmers & Merchants Bancorp's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is Farmers & Merchants Bancorp undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: FMCB ($725) is trading below our estimate of fair value ($1104.3)
Significantly Below Fair Value: FMCB is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: FMCB is good value based on its PE Ratio (9.9x) compared to the US Banks industry average (11.5x).
PE vs Market: FMCB is good value based on its PE Ratio (9.9x) compared to the US market (19.7x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate FMCB's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: FMCB is overvalued based on its PB Ratio (1.4x) compared to the US Banks industry average (0.9x).
How is Farmers & Merchants Bancorp forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
Forecasted Banks industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Farmers & Merchants Bancorp has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
- Examine whether Farmers & Merchants Bancorp is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
- While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on theOTC Markets Website. If you are looking for more of a qualitative research into the company, you can access Farmers & Merchants Bancorp's filings and announcementshere.
- Explore growth companies in the Banks industry.
How has Farmers & Merchants Bancorp performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FMCB has high quality earnings.
Growing Profit Margin: FMCB's current net profit margins (36.7%) are higher than last year (35.4%).
Past Earnings Growth Analysis
Earnings Trend: FMCB's earnings have grown by 18.5% per year over the past 5 years.
Accelerating Growth: FMCB's earnings growth over the past year (6.3%) is below its 5-year average (18.5% per year).
Earnings vs Industry: FMCB earnings growth over the past year (6.3%) exceeded the Banks industry -4.3%.
Return on Equity
High ROE: FMCB's Return on Equity (13.9%) is considered low.
How is Farmers & Merchants Bancorp's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Financial Institutions Analysis
Asset Level: FMCB's Assets to Equity ratio (10.3x) is moderate.
Allowance for Bad Loans: FMCB has a sufficient allowance for bad loans (11405%).
Low Risk Liabilities: 98% of FMCB's liabilities are made up of primarily low risk sources of funding.
Loan Level: FMCB has an appropriate level of Loans to Assets ratio (71%).
Low Risk Deposits: FMCB's Loans to Deposits ratio (80%) is appropriate.
Level of Bad Loans: FMCB has an appropriate level of bad loans (0%).
What is Farmers & Merchants Bancorp current dividend yield, its reliability and sustainability?
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: FMCB's dividend (2.07%) is higher than the bottom 25% of dividend payers in the US market (1.47%).
High Dividend: FMCB's dividend (2.07%) is low compared to the top 25% of dividend payers in the US market (4.05%).
Stability and Growth of Payments
Stable Dividend: FMCB's dividends per share have been stable in the past 10 years.
Growing Dividend: FMCB's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (19.7%), FMCB's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Kent Steinwert (67 yo)
Mr. Kent A. Steinwert has been the Chief Executive Officer and President of Farmers & Merchants Bank of Central California, a subsidiary of Farmers & Merchants BanCorp Since August 18, 1997. Mr. Steinwert ...
CEO Compensation Analysis
Compensation vs Market: Kent's total compensation ($USD4.62M) is above average for companies of similar size in the US market ($USD1.79M).
Compensation vs Earnings: Kent's compensation has been consistent with company performance over the past year.
|Executive VP||17.58yrs||US$1.74m||0.58% |
|Executive VP & Senior Credit Officer||9.25yrs||US$1.43m||0.44% |
|Executive VP & Wholesale Banking Manager of Farmers & Merchants Bank of Central California||3.42yrs||US$829.98k||0.067% |
|Chief Administrative Officer & Executive VP of Farmers & Merchants Bank of Central California||19.92yrs||US$1.58m||0.52% |
|Executive VP & Wholesale Banking Manager of Farmers & Merchants Bank of Central California||7yrs||US$1.10m||0.60% |
|Executive VP and Retail Banking Manager of Farmers & Merchants Bank of Central California||6.5yrs||US$900.10k||0.24% |
|Senior VP & Director of Human Resources||2.25yrs||no data||no data|
Experienced Management: FMCB's management team is seasoned and experienced (8.1 years average tenure).
|Independent Director||30.83yrs||US$234.00k||0.44% |
|Independent Director||19.83yrs||US$234.60k||0.95% |
|Independent Director||17.83yrs||US$281.80k||0.25% |
|Independent Director||6.33yrs||US$230.60k||0.21% |
|Independent Director||2.67yrs||US$236.20k||0.067% |
|Independent Director||2.67yrs||US$160.60k||0.051% |
Experienced Board: FMCB's board of directors are seasoned and experienced ( 10.5 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Farmers & Merchants Bancorp's company bio, employee growth, exchange listings and data sources
- Name: Farmers & Merchants Bancorp
- Ticker: FMCB
- Exchange: OTCPK
- Founded: 1916
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$572.630m
- Shares outstanding: 793.56k
- Website: https://www.fmbonline.com
Number of Employees
- Farmers & Merchants Bancorp
- 111 West Pine Street
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|FMCB||OTCPK (Pink Sheets LLC)||Yes||Common Shares||US||USD||Mar 1994|
Farmers & Merchants Bancorp operates as the bank holding company for Farmers & Merchants Bank of Central California that provides a range of banking services to businesses and individuals primarily in the ...
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/11/27 23:15|
|End of Day Share Price||2020/11/27 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.