Farmers & Merchants Bancorp (FMAO) vs West Bancorporation (WTBA)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
West Bancorporation (WTBA) has outperformed Farmers & Merchants Bancorp (FMAO) over the past year, gaining 44.0% versus a gain of 40.2%. Over five years, FMAO leads with a +48.3% price change compared with -4.4% for WTBA. West Bancorporation is the larger company by market cap ($490.5 million vs $486.3 million), about 1.0 times the size.
On valuation, West Bancorporation trades at a lower forward P/E (10.2x vs 10.8x for Farmers & Merchants Bancorp). West Bancorporation offers the higher dividend yield (3.47% vs 2.60%).
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | FMAO | WTBA |
|---|---|---|
| Share price | $35.31 | $28.78 |
| Market cap | $486.33M | $490.52M |
| 1-day change | +1.17% | -0.42% |
| YTD return | +42.84% | +29.70% |
| 1-year return | +40.23% | +44.04% |
| 5-year return | +48.30% | -4.37% |
| P/E ratio (TTM) | 12.13 | 12.79 |
| Forward P/E | 10.80 | 10.22 |
| EPS (TTM) | $2.91 | $2.25 |
| Dividend yield | 2.60% | 3.47% |
| Annual dividend | $0.918 | $1.00 |
| 52-week high | $36.12 | $30.50 |
| 52-week low | $22.77 | $19.03 |
| Distance from 52-week high | -2.24% | -5.64% |
| Analyst consensus | none | none |
| Avg. price target upside | +1.95% | +0.76% |
| Average volume | 63.82K | 61.01K |
| Shares outstanding | 13.77M | 17.04M |
| Employees | 477 | — |
| Sector | Finance | Finance |
| Industry | Savings Institutions | Major Banks |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
About Farmers & Merchants Bancorp
FMAO stock →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.
Finance · Savings Institutions · 477 employees
About West Bancorporation
WTBA stock →West Bancorporation, Inc. operates as the bank holding company for West Bank that provides community banking and trust services to individuals and small- to medium-sized businesses in the United States.
Finance · Major Banks
FMAO vs WTBA FAQ
Which is bigger, Farmers & Merchants Bancorp or West Bancorporation?
West Bancorporation (WTBA) is larger, with a market capitalization of $490.52M compared with $486.33M for Farmers & Merchants Bancorp (FMAO).
Which stock has performed better over the past year, FMAO or WTBA?
WTBA returned +44.04% over the past 12 months, compared with +40.23% for FMAO (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, FMAO or WTBA?
FMAO has the lower trailing P/E at 12.1, versus 12.8 for WTBA. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Farmers & Merchants Bancorp or West Bancorporation?
West Bancorporation has the higher yield at 3.47%, compared with 2.60% for Farmers & Merchants Bancorp.
Are Farmers & Merchants Bancorp and West Bancorporation in the same industry?
Both are in the Finance sector, but in different industries: Savings Institutions for Farmers & Merchants Bancorp and Major Banks for West Bancorporation.