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F & M Bank
(OTC:FMBM)
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Rating:74Outperform
Price Target:
$45.00
â–²(12.50% Upside)
Action:Reiterated
Date:09/29/26
The score is driven primarily by improving financial performance (stronger revenue and profitability with reduced leverage, though historically volatile) and a supportive technical backdrop (uptrend with positive momentum). Attractive valuation (low P/E plus dividend) adds upside support, while corporate events are mildly positive but tempered by potential dilution from expanded equity incentive capacity.
Positive Factors
Revenue and profitability growth
The sustained increase in revenue, together with the rebound in net margin, indicates stronger operating performance and improved earnings capacity. If maintained, this combination can support reinvestment, strengthen the bank’s competitive position, and provide a more durable foundation for shareholder returns over the next several quarters.
Negative Factors
Historically volatile earnings
The sharp earnings decline in 2023 shows that profitability can vary materially across operating cycles, despite the recent recovery. Such volatility makes future earnings power less predictable, complicates capital planning, and means current margins may not remain fully sustainable if business conditions weaken.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and profitability growth
The sustained increase in revenue, together with the rebound in net margin, indicates stronger operating performance and improved earnings capacity. If maintained, this combination can support reinvestment, strengthen the bank’s competitive position, and provide a more durable foundation for shareholder returns over the next several quarters.
Read all positive factors
F & M Bank (FMBM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$145.19M
Dividend Yield2.57%
Average Volume (3M)3.33K
Price to Earnings (P/E)10.0
Beta (1Y)-0.03
Revenue Growth7.91%
EPS Growth68.62%
CountryUS
Employees173
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)4.05
Shares Outstanding3,586,733
10 Day Avg. Volume5,643
30 Day Avg. Volume3,335
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)0.98
Price to Sales (P/S)1.30
P/FCF Ratio6.48
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
F & M Bank Business Overview & Revenue Model
Company Description
F & M Bank Corp. operates as the bank holding company for Farmers & Merchants Bank that provides financial products and services to consumers and businesses in Virginia. The company offers commercial and individual demand and time deposit accounts...
How the Company Makes Money
F & M Bank primarily earns money through (1) net interest income and (2) noninterest income; other items such as securities gains/losses and miscellaneous income may also contribute, but specific breakdowns are null.
1) Net interest income (core ...
F & M Bank Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 80.82M | 78.92M | 74.91M | 66.09M | 52.94M | 46.63M |
| Gross Profit | 56.22M | 50.00M | 42.01M | 40.36M | 44.83M | 45.15M |
| EBITDA | 17.79M | 14.26M | 9.33M | 3.37M | 9.94M | 13.30M |
| Net Income | 14.40M | 11.23M | 7.29M | 2.77M | 8.32M | 10.74M |
Balance Sheet | ||||||
| Total Assets | 1.40B | 1.37B | 1.30B | 1.29B | 1.25B | 1.22B |
| Cash, Cash Equivalents and Short-Term Investments | 20.98M | 67.84M | 58.03M | 19.79M | 410.71M | 415.34M |
| Total Debt | 9.93M | 10.79M | 6.97M | 66.93M | 76.89M | 21.77M |
| Total Liabilities | 1.29B | 1.27B | 1.22B | 1.22B | 1.18B | 1.12B |
| Stockholders Equity | 112.11M | 104.79M | 86.14M | 78.32M | 70.79M | 100.46M |
Cash Flow | ||||||
| Free Cash Flow | 18.43M | 15.78M | 7.21M | -3.06M | 13.93M | 20.72M |
| Operating Cash Flow | 19.69M | 16.50M | 7.49M | 2.40M | 17.57M | 21.28M |
| Investing Cash Flow | -66.73M | -53.86M | 27.22M | -50.20M | -125.57M | -243.70M |
| Financing Cash Flow | 60.07M | 49.25M | -1.47M | 36.57M | 54.83M | 232.13M |
F & M Bank Technical Analysis
Positive
40.00
Price Trends
39.97
Positive
37.77
Positive
33.95
Positive
Market Momentum
0.19
Positive
59.84
Neutral
47.50
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FMBM, the sentiment is Positive. The current price of 40 is below the 20-day moving average (MA) of 40.21, above the 50-day MA of 39.97, and above the 200-day MA of 33.95, indicating a bullish trend. The MACD of 0.19 indicates Positive momentum. The RSI at 59.84 is Neutral, neither overbought nor oversold. The STOCH value of 47.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FMBM.
F & M Bank Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $92.37M | 10.89 | 9.10% | 4.11% | 4.58% | 26.05% | |
76 Outperform | $144.51M | 16.21 | 5.91% | 1.98% | 5.96% | 49.37% | |
74 Outperform | $145.19M | 10.00 | 13.55% | 2.57% | 7.91% | 68.62% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
58 Neutral | $109.41M | -26.68 | -1.08% | 2.37% | -7.07% | -307.72% | |
55 Neutral | $119.12M | -31.12 | -2.50% | 1.34% | -11.21% | -176.24% |
* Financial Sector Average
FMBM
F & M Bank
40.48
15.69
63.28%
AUBN
Auburn National Bancorporation
26.30
-0.05
-0.20%
LSBK
Lake Shore Bancorp
18.14
5.51
43.61%
PBHC
Pathfinder Bancorp
16.71
1.90
12.81%
RVSB
Riverview Bancorp
6.03
0.94
18.42%
F & M Bank Corporate Events
Business Operations and StrategyExecutive/Board Changes
F & M Bank Expands Equity Incentives Amid Board Transition
Positive
Sep 28, 2026
On September 24, 2026, F M Bank Corp. announced that director Michael W. Pugh retired from its board of directors, effective immediately, after reaching the mandatory retirement age stipulated in the company’s amended and restated bylaws. T...
Executive/Board Changes
F & M Bank Appoints Erica Truban to Board
Positive
Aug 26, 2026
On August 25, 2026, F M Bank Corp. appointed Erica N. Truban to its Board of Directors and to the board of its subsidiary, Farmers Merchants Bank, to serve until the next annual shareholders’ meeting. A Certified Public Accountant and Cert...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.