FMAO Farmers & Merchants Bancorp, Inc. - Common Stock
$34.80
Price · Aug 19, 2026
Fundamentals as of Jul 29, 2026
52W Range
$23–$36
91% of range
Analyst Rating
HOLD
8 analysts
Price Target
$36
+3% upside
P/E (TTM)
14.3
ROE
9.2%
Net Profit Margin
27.4%
FMAO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$34.80
Market Cap
$478M
P/E (TTM)
14.3
EPS (TTM)
$2.43
Revenue (TTM)
—
Div Yield
2.5%
ROE
9.2%
Debt/Equity
—
52W Range
$23 – $36
FMAO Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
—
EPS
$2.43
2020-12-31
→
2025-12-31
Free Cash Flow
$35M
2016-12-31
→
2025-12-31
Margins
27.4%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
FMAO
Peer Median
P/E (TTM)
14.3
12.9
P/S (TTM)
3.9
2.5
P/B
1.3
1.0
Price / FCF
13.7
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
FMAO
Peer Median
Net Profit Margin
27.4%
25.3%
ROA
0.98%
0.96%
ROE
9.2%
8.7%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
FMAO
Peer Median
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
FMAO
Peer Median
Revenue YoY
19.6%
—
Revenue CAGR 3Y
5.8%
—
Revenue CAGR 5Y
9.7%
—
EPS YoY
27.9%
—
Net Income YoY
28.4%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
FMAO
Peer Median
Payout Ratio
36.3%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
2.5%
Payout Ratio
36.3%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| July 10, 2026 | $0.2300 |
| April 2, 2026 | $0.2300 |
| Dec. 29, 2025 | $0.2300 |
| Oct. 10, 2025 | $0.2280 |
| July 7, 2025 | $0.2210 |
| April 4, 2025 | $0.2210 |
| Dec. 27, 2024 | $0.2210 |
| Oct. 4, 2024 | $0.2210 |
| July 5, 2024 | $0.2200 |
| March 27, 2024 | $0.2200 |
| Dec. 28, 2023 | $0.2200 |
| Oct. 5, 2023 | $0.2100 |
| July 6, 2023 | $0.2100 |
| March 30, 2023 | $0.2100 |
| Dec. 29, 2022 | $0.2100 |
| Sept. 23, 2022 | $0.2100 |
| July 7, 2022 | $0.2030 |
| March 31, 2022 | $0.1900 |
| Dec. 27, 2021 | $0.1900 |
| Sept. 27, 2021 | $0.1800 |
FMAO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
SELL
8 analysts
- Strong Buy 0 0.0%
- Buy 0 0.0%
- Hold 5 62.5%
- Sell 1 12.5%
- Strong Sell 2 25.0%
12-Month Price Target
3 analysts · 2026-08-16
Low
$36.00
High
$36.00
Median target
$36.00
+3.4%
Mean target
$36.00
+3.4%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.07%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.86 | $0.69 | 0.17% |
| March 31, 2026 | $0.72 | $0.69 | 0.03% |
| Dec. 31, 2025 | $0.71 | $0.67 | 0.04% |
| Sept. 30, 2025 | $0.64 | $0.61 | 0.03% |
| June 30, 2025 | $0.56 | $0.51 | 0.05% |
| March 31, 2025 | $0.51 | $0.43 | 0.08% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| FMAO | $340M | 10.2 | 19.6% | 27.4% | 9.2% | — |
| PDLB | $395M | 13.6 | 30.5% | 26.3% | 5.4% | — |
| BSVN | $388M | 9.1 | -1.1% | 44.7% | 18.6% | — |
| WTBA | $376M | 11.6 | 19.4% | 34.2% | 12.8% | — |
| CBK | $336M | 8.3 | 2.1% | 41.2% | 14.7% | — |
| CZNC | $359M | 12.3 | 13.3% | 19.1% | 7.5% | — |
| CBAN | $379M | 11.2 | 14.5% | 21.4% | 8.4% | — |
| RBB | $352M | 11.3 | -2.4% | 618.3% | 6.1% | — |
| TFC | $62.13B | 12.9 | 53.0% | 26.1% | 8.2% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SG&A Expense | $6M | $5M | $6M | $6M | $8M | $6M | $6M | $4M | $4M | $4M | $6M | $6M | |
| Interest Expense | · | · | $58M | $14M | $7M | $10M | $15M | $7M | $5M | $4M | $4M | $4M | |
| Interest Income | $174M | $164M | $140M | $101M | $77M | $70M | $68M | $46M | $41M | $38M | $34M | $33M | |
| Pretax Income | $43M | $33M | $28M | $40M | $29M | $25M | $23M | $18M | $18M | $16M | $14M | $14M | |
| Income Tax | $9M | $7M | $6M | $8M | $6M | $5M | $4M | $3M | $5M | $5M | $4M | $4M | |
| Net Income | $33M | $26M | $23M | $33M | $23M | $20M | $18M | $15M | $13M | $12M | $10M | $10M | |
| EPS (Basic) | $2.43 | $1.90 | $1.67 | $2.46 | $2.01 | $1.80 | · | · | · | · | · | $2.08 | |
| EPS (Diluted) | $2.43 | $1.90 | $1.67 | $2.46 | $2.01 | $1.80 | · | · | · | · | · | · | |
| Shares (Basic) | 13,559,873 | 13,418,729 | 13,492,903 | 13,091,422 | 11,570,218 | 11,061,391 | 11,030,441 | 9,179,964 | 9,162,161 | 9,144,266 | 9,164,116 | 4,595,900 |
Balance Sheet 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | · | · | · | · | · | · | · | · | · | · | · | $24M | |
| PP&E (Net) | $32M | $34M | $36M | $28M | $27M | $27M | $26M | $23M | $22M | $21M | $21M | $20M | |
| PP&E (Gross) | $80M | $79M | $78M | $68M | $61M | $58M | $58M | $46M | $43M | $42M | $40M | $38M | |
| Accum. Depreciation | $48M | $46M | $42M | $39M | $34M | $31M | $32M | $23M | $22M | $20M | $19M | $18M | |
| Goodwill | $86M | $86M | $86M | $86M | $80M | $47M | $47M | $4M | $4M | $4M | $4M | $4M | |
| Intangibles | · | · | · | · | · | · | $4M | · | · | $740.0K | $1M | $1M | |
| Total Assets | $3.43B | $3.36B | $3.28B | $3.02B | $2.64B | $1.91B | $1.61B | $1.12B | $1.11B | $1.06B | $989M | $941M | |
| Total Liabilities | $3.06B | $3.03B | $2.97B | $2.72B | $2.34B | $1.66B | $1.38B | $973M | $973M | $930M | $869M | $827M | |
| Common Stock | $136M | $136M | $136M | $135M | $123M | $82M | $82M | $11M | $12M | $12M | $12M | $12M | |
| Retained Earnings | $258M | $236M | $221M | $212M | $189M | $174M | $160M | $148M | $137M | $128M | $120M | $114M | |
| Treasury Stock | $11M | $11M | $11M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | |
| AOCI | $-12M | $-25M | $-29M | $-38M | $-3M | $6M | $1M | $-3M | $-2M | $-2M | $212.0K | $444.0K | |
| Stockholders' Equity | $371M | $335M | $317M | $298M | $297M | $249M | $230M | $143M | $134M | $126M | $120M | $114M | |
| Liabilities + Equity | $3.43B | $3.36B | $3.28B | $3.02B | $2.64B | $1.91B | $1.61B | $1.12B | $1.11B | $1.06B | $989M | $941M | |
| Shares Outstanding | 13,748,074 | 13,699,536 | 13,664,641 | 14,564,425 | 14,063,999 | 12,230,000 | 12,230,000 | 10,400,000 | 10,400,000 | 10,400,000 | 5,200,000 | 5,200,000 |
Cash Flow 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $1M | $1M | $1M | $899.0K | $822.0K | $1M | $1M | $745.0K | $507.0K | $402.0K | $314.0K | $232.0K | |
| Deferred Tax | $-126.0K | $307.0K | $2M | $171.0K | $-2M | $-2M | $292.0K | $471.0K | $21.0K | $55.0K | · | · | |
| Amort. of Intangibles | $2M | $2M | $2M | $1M | $677.0K | $720.0K | $727.0K | $167.0K | $245.0K | $323.0K | $323.0K | $480.0K | |
| Operating Cash Flow | $37M | $32M | $22M | $41M | $35M | $27M | $24M | $11M | $18M | $12M | $15M | $19M | |
| CapEx | $2M | $2M | $11M | $3M | $2M | $3M | $4M | $3M | $2M | $2M | $2M | $3M | |
| Investing Cash Flow | $-139M | $-44M | $-194M | $-390M | $-266M | $-178M | $-149M | $1M | $-48M | $-64M | · | · | |
| Stock Repurchased | $362.0K | $664.0K | $218.0K | $308.0K | $338.0K | $383.0K | $381.0K | $490.0K | $196.0K | $194.0K | $803.0K | $576.0K | |
| Net Stock Activity | $-362.0K | $-664.0K | · | $-308.0K | $-338.0K | $-383.0K | $-381.0K | $-490.0K | $-196.0K | $-194.0K | $-803.0K | $-576.0K | |
| Dividends Paid | $12M | $12M | $11M | $10M | $8M | $7M | $6M | $5M | $4M | $4M | $4M | $4M | |
| Financing Cash Flow | $23M | $46M | $230M | $253M | $236M | $275M | $138M | $-8M | $37M | $58M | · | · | |
| Net Change in Cash | $-79M | $34M | $58M | $-96M | $5M | $124M | $13M | $4M | $6M | $6M | $-2M | $5M | |
| Free Cash Flow | $35M | $31M | · | $38M | $33M | $24M | $20M | $10M | $17M | $10M | $13M | $16M | |
| Levered FCF | · | · | · | $27M | $27M | $16M | $8M | $4M | $14M | $7M | $10M | $14M |
Profitability 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 27.4% | 25.6% | · | 31.8% | 27.0% | 26.2% | 28.1% | 29.5% | 27.2% | 26.0% | 25.3% | 24.2% | |
| Pretax Margin | 35.0% | 32.1% | · | 39.6% | 33.9% | 32.9% | 34.6% | 35.8% | 38.2% | 36.4% | 34.7% | 33.9% | |
| ROA | 0.98% | 0.78% | · | 1.1% | 1.0% | 1.1% | 1.4% | 1.3% | 1.2% | 1.1% | 1.1% | 1.0% | |
| ROE | 9.2% | 7.7% | · | 11.2% | 8.5% | 8.2% | 8.0% | 10.6% | 9.8% | 9.5% | 8.8% | 8.6% |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 19.6% | 4.3% | -5.1% | 17.8% | 13.8% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 5.8% | 5.2% | 8.3% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 9.7% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 27.9% | 13.8% | -32.1% | 22.4% | 11.7% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | -0.41% | -1.9% | -2.5% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 6.2% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 28.4% | 13.8% | -29.9% | 38.4% | 16.9% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 0.81% | 3.4% | 4.3% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 10.6% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 11.0% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $121M | $102M | $97M | $103M | $87M | $77M | $65M | $51M | $47M | $45M | $41M | $40M | |
| Net Income TTM | $33M | $26M | $23M | $33M | $23M | $20M | $18M | $15M | $13M | $12M | $10M | $10M | |
| Market Cap | $340M | $403M | · | $396M | $462M | $281M | $369M | $400M | $424M | $91M | $70M | $70M | |
| P/E | 10.2 | 15.5 | 14.9 | 11.0 | 16.3 | 12.8 | · | · | · | · | · | · | |
| P/S | 2.8 | 4.0 | · | 3.9 | 5.3 | 3.7 | 5.6 | 7.9 | 9.1 | 2.0 | 1.7 | 1.7 | |
| P/B | 0.9 | 1.2 | · | 1.3 | 1.6 | 1.1 | 1.6 | 2.8 | 3.2 | 0.7 | 0.6 | 0.6 | |
| P / Tangible Book | 1.2 | 1.6 | 1.6 | 1.9 | 2.1 | 1.4 | · | · | · | · | · | · | |
| P / Cash Flow | 9.3 | 12.4 | · | 9.7 | 13.3 | 10.3 | 15.4 | 33.0 | 22.0 | 7.3 | 4.7 | 3.6 | |
| P / FCF | 9.7 | 13.2 | · | 10.4 | 14.1 | 11.6 | 18.1 | 42.0 | 24.3 | 9.1 | 5.3 | 4.3 | |
| Dividend Yield | 3.6% | 3.0% | · | 2.6% | 1.7% | 2.5% | 1.7% | 1.2% | 1.1% | 4.5% | 5.6% | 5.6% | |
| Earnings Yield | 9.8% | 6.5% | 6.7% | 9.0% | 6.1% | 7.8% | · | · | · | · | · | · | |
| Payout Ratio | 36.3% | 46.0% | · | 31.6% | 32.6% | 35.8% | 34.5% | 33.1% | 34.9% | 35.3% | 38.1% | 40.1% | |
| Annual Payout | $12M | $12M | $11M | $10M | $8M | $7M | $6M | $5M | $4M | $4M | $4M | $4M |
Income Statement 9
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SG&A Expense | $2M | $2M | $1M | $1M | $2M | $1M | $1M | $1M | $1M | $1M | $336.0K | $1M | $2M | $3M | $-732.0K | $2M | |
| Interest Expense | · | · | · | · | · | · | · | · | $20M | $19M | $18M | $17M | $13M | $10M | $7M | $3M | |
| Interest Income | $46M | $43M | $45M | $44M | $43M | $41M | $42M | $42M | $41M | $39M | $38M | $36M | $33M | $32M | $29M | $26M | |
| Pretax Income | $15M | $12M | $13M | $11M | $10M | $9M | $11M | $8M | $7M | $7M | $7M | $6M | $8M | $8M | $9M | $11M | |
| Income Tax | $3M | $3M | $3M | $2M | $2M | $2M | $2M | $2M | $1M | $1M | $1M | $1M | $2M | $2M | $2M | $2M | |
| Net Income | $12M | $10M | $10M | $9M | $8M | $7M | $8M | $7M | $6M | $5M | $6M | $5M | $6M | $6M | $7M | $9M | |
| EPS (Basic) | $0.86 | $0.70 | $0.71 | $0.64 | $0.56 | $0.51 | $0.61 | $0.48 | $0.42 | $0.39 | $0.41 | $0.35 | $0.44 | $0.47 | $0.53 | $0.68 | |
| EPS (Diluted) | $0.86 | $0.70 | $0.71 | $0.64 | $0.56 | $0.51 | $0.61 | $0.48 | $0.42 | $0.39 | $0.41 | $0.35 | $0.44 | $0.47 | $0.53 | $0.68 | |
| Shares (Basic) | 13,600,380 | 13,588,669 | 13,749,420 | 13,733,858 | 13,547,445 | 13,541,847 | 13,699,869 | 13,687,119 | 13,681,501 | 13,671,166 | -26,967,638 | 13,650,823 | 13,632,440 | 13,615,655 | -25,804,118 | 12,983,307 |
Balance Sheet 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PP&E (Net) | $30M | $32M | $32M | $32M | $33M | $33M | $34M | $34M | $35M | $35M | · | $32M | $30M | $29M | · | $26M | |
| PP&E (Gross) | · | · | $80M | · | · | · | $79M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $48M | · | · | · | $46M | · | · | · | · | · | · | · | · | · | |
| Goodwill | $86M | $86M | $86M | $86M | $86M | $86M | $86M | $86M | $86M | $86M | · | $86M | $86M | $86M | · | $80M | |
| Total Assets | $3.50B | $3.49B | $3.43B | $3.39B | $3.35B | $3.39B | $3.36B | $3.39B | $3.32B | $3.29B | · | $3.23B | $3.15B | $3.07B | · | $2.78B | |
| Total Liabilities | $3.12B | $3.11B | $3.06B | $3.03B | $2.99B | $3.04B | $3.03B | $3.05B | $3.00B | $2.97B | · | $2.93B | $2.84B | $2.76B | · | $2.50B | |
| Common Stock | $136M | $135M | $136M | $135M | $136M | $135M | $136M | $135M | $136M | $135M | · | $135M | $136M | $135M | · | $122M | |
| Retained Earnings | $273M | $265M | $258M | $251M | $245M | $240M | $236M | $230M | $226M | $224M | · | $219M | $216M | $213M | · | $208M | |
| Treasury Stock | $10M | $10M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | · | $11M | $11M | $11M | · | $12M | |
| AOCI | $-14M | $-14M | $-12M | $-14M | $-19M | $-20M | $-25M | $-19M | $-29M | $-31M | · | $-39M | $-36M | $-31M | · | $-38M | |
| Stockholders' Equity | $385M | $376M | $371M | $362M | $351M | $345M | $335M | $335M | $323M | $318M | $317M | $303M | $305M | $306M | $298M | $281M | |
| Liabilities + Equity | $3.50B | $3.49B | $3.43B | $3.39B | $3.35B | $3.39B | $3.36B | $3.39B | $3.32B | $3.29B | · | $3.23B | $3.15B | $3.07B | · | $2.78B | |
| Shares Outstanding | 13,779,385 | 13,768,667 | 13,748,074 | 13,749,827 | 13,725,998 | 13,718,336 | 13,699,536 | 13,702,593 | 14,564,425 | 14,564,425 | · | 14,564,425 | 14,564,425 | 14,564,425 | · | 14,063,999 |
Cash Flow 12
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $385.0K | $331.0K | $317.0K | $333.0K | $392.0K | $352.0K | $293.0K | $314.0K | $320.0K | $434.0K | $332.0K | $343.0K | $300.0K | $306.0K | $259.0K | $208.0K | |
| Amort. of Intangibles | $274.0K | $274.0K | $415.0K | $414.0K | $414.0K | $414.0K | $415.0K | $414.0K | $414.0K | $414.0K | $415.0K | $414.0K | $414.0K | $414.0K | $414.0K | $199.0K | |
| Operating Cash Flow | $11M | $8M | $13M | $11M | $1M | $11M | $3M | $19M | $10M | $1M | $11M | $5M | $4M | $3M | $19M | $-466.0K | |
| CapEx | $209.0K | $663.0K | $187.0K | $475.0K | $719.0K | $386.0K | $729.0K | $357.0K | $566.0K | $219.0K | $2M | $3M | $3M | $2M | $894.0K | $722.0K | |
| Investing Cash Flow | $-34M | $24M | $-63M | $-15M | $-36M | $-24M | $-54M | $-4M | $-29M | $42M | $-48M | $-5M | $-73M | $-68M | $-100M | $-110M | |
| Stock Repurchased | $42.0K | $57.0K | $1.0K | $338.0K | $0 | $23.0K | $0 | $331.0K | $239.0K | $94.0K | $19.0K | $194.0K | · | · | $0 | $254.0K | |
| Net Stock Activity | · | $-57.0K | · | · | · | $-23.0K | · | · | · | $-94.0K | · | · | · | · | · | · | |
| Dividends Paid | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | |
| Financing Cash Flow | $6M | $44M | $30M | $33M | $-50M | $10M | $-18M | $37M | $25M | $2M | $26M | $82M | $76M | $45M | $95M | $110M | |
| Net Change in Cash | $-17M | $76M | $-19M | $29M | $-85M | $-3M | $-69M | $52M | $5M | $46M | $-11M | $82M | $7M | $-20M | $14M | $-769.0K | |
| Free Cash Flow | · | $7M | · | · | · | $11M | · | · | · | $1M | · | · | · | $644.0K | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-13M | · | · | · | $-7M | · | · |
Profitability 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 34.3% | 29.5% | · | 28.3% | 26.0% | 24.8% | · | 25.5% | 22.7% | 22.3% | · | 20.5% | 24.6% | 25.0% | · | 34.0% | |
| Pretax Margin | 43.0% | 38.0% | · | 35.9% | 32.7% | 31.2% | · | 31.7% | 28.6% | 28.2% | · | 25.3% | 30.9% | 31.1% | · | 42.6% | |
| ROA | 0.34% | 0.28% | · | 0.26% | 0.23% | 0.21% | · | 0.20% | 0.18% | 0.17% | · | 0.16% | 0.21% | 0.22% | · | 0.36% | |
| ROE | 3.2% | 2.7% | · | 2.5% | 2.3% | 2.1% | · | 2.0% | 1.8% | 1.7% | · | 1.6% | 2.1% | 2.2% | · | 3.4% |
Efficiency 1
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 |
Valuation (TTM) 11
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $126M | $121M | · | $112M | $106M | $102M | · | $95M | $92M | $92M | · | $96M | $99M | $100M | · | $96M | |
| Net Income TTM | $40M | $36M | · | $32M | $30M | $28M | · | $23M | $21M | $22M | · | $24M | $29M | $31M | · | $33M | |
| Market Cap | $421M | $353M | · | $344M | $347M | $328M | · | $379M | $338M | $325M | · | $255M | $328M | $354M | · | $378M | |
| P/E | 10.5 | 9.8 | · | 10.8 | 11.7 | 11.8 | · | 16.3 | 14.8 | 14.0 | · | 9.8 | 10.6 | 10.5 | · | 10.7 | |
| P/S | 3.3 | 2.9 | · | 3.1 | 3.3 | 3.2 | · | 4.0 | 3.7 | 3.5 | · | 2.7 | 3.3 | 3.5 | · | 4.0 | |
| P/B | 1.1 | 0.9 | · | 1.0 | 1.0 | 1.0 | · | 1.1 | 1.0 | 1.0 | · | 0.8 | 1.1 | 1.2 | · | 1.3 | |
| P / Tangible Book | 1.4 | 1.2 | · | 1.2 | 1.3 | 1.3 | · | 1.5 | 1.4 | 1.4 | · | 1.2 | 1.5 | 1.6 | · | 1.9 | |
| P / Cash Flow | · | 46.2 | · | · | · | 29.8 | · | · | · | 218.9 | · | · | · | 115.2 | · | · | |
| P / FCF | · | 50.6 | · | · | · | 30.9 | · | · | · | 256.8 | · | · | · | 550.0 | · | · | |
| Earnings Yield | 9.5% | 10.2% | · | 9.3% | 8.5% | 8.5% | · | 6.2% | 6.8% | 7.1% | · | 10.2% | 9.4% | 9.5% | · | 9.4% | |
| Payout Ratio | · | 32.6% | · | · | · | 43.1% | · | · | · | 55.5% | · | · | · | 43.8% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Net Income | $33M | $26M | $23M | $33M | $23M |
| Diluted EPS | $2.43 | $1.90 | $1.67 | $2.46 | $2.01 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $35M | $31M | — | $38M | $33M |
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Institutional owners (13F) 119 filers · $106.7M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 26 (+11 vs prior Q) | 9 (+7 vs prior Q) | 48 (+11 vs prior Q) | 17 (-10 vs prior Q) | +995K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | $17,653,895 | 577,302 | 16.55% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $8,843,063 | 289,178 | 8.29% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $8,718,392 | 285,002 | 8.17% | Shares |
| STATE STREET CORP | $8,196,510 | 268,035 | 7.68% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $7,492,436 | 245,011 | 7.02% | Shares |
| Goelzer Investment Management, Inc. | $6,837,811 | 223,604 | 6.41% | Shares |
| AMERICAN CENTURY COMPANIES INC | $5,717,206 | 186,959 | 5.36% | Shares |
| Mendel Money Management | $3,543,491 | 115,877 | 3.32% | Shares |
| Gryphon Financial Partners LLC | $3,063,658 | 100,185 | 2.87% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $2,782,413 | 90,988 | 2.61% | Shares |
| Quantinno Capital Management LP | $2,609,514 | 85,334 | 2.45% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $2,596,334 | 84,903 | 2.43% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $2,240,292 | 73,260 | 2.10% | Shares |
| SEGALL BRYANT & HAMILL, LLC | $2,084,547 | 68,167 | 1.95% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $1,739,421 | 56,881 | 1.63% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $1,201,519 | 39,291 | 1.13% | Shares |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ | $1,046,845 | 34,233 | 0.98% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $1,045,438 | 34,187 | 0.98% | Shares |
| Trexquant Investment LP | $1,011,036 | 33,062 | 0.95% | Shares |
| Venture Visionary Partners LLC | $948,254 | 31,008 | 0.89% | Shares |
| Empowered Funds, LLC | $906,911 | 29,657 | 0.85% | Shares |
| Bank of New York Mellon Corp | $831,287 | 27,184 | 0.78% | Shares |
| CITADEL ADVISORS LLC | $797,955 | 26,094 | 0.75% | Shares |
| XTX Topco Ltd | $772,145 | 25,250 | 0.72% | Shares |
| MILLENNIUM MANAGEMENT LLC | $743,889 | 24,326 | 0.70% | Shares |
| Integrated Quantitative Investments LLC | $734,440 | 24,017 | 0.69% | Shares |
| Man Group plc | $534,538 | 17,480 | 0.50% | Shares |
| RHUMBLINE ADVISERS | $514,990 | 16,841 | 0.48% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $513,777 | 16,801 | 0.48% | Shares |
| GOLDMAN SACHS GROUP INC | $472,155 | 15,440 | 0.44% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $446,866 | 14,613 | 0.42% | Shares |
| HICKS CAPITAL MANAGEMENT LLC | $443,808 | 14,513 | 0.42% | Shares |
| BlackRock, Inc. | $439,006 | 14,356 | 0.41% | Shares |
| BANK OF AMERICA CORP /DE/ | $438,701 | 14,346 | 0.41% | Shares |
| DEUTSCHE BANK AG\ | $404,145 | 13,216 | 0.38% | Shares |
| AMERIPRISE FINANCIAL INC | $381,118 | 12,463 | 0.36% | Shares |
| MARSHALL WACE, LLP | $379,620 | 12,414 | 0.36% | Shares |
| Waverly Advisors, LLC | $369,070 | 12,069 | 0.35% | Shares |
| Revisor Wealth Management LLC | $354,942 | 11,607 | 0.33% | Shares |
| WELLS FARGO & COMPANY/MN | $347,022 | 11,348 | 0.33% | Shares |
| Align Financial, LLC | $342,496 | 11,200 | 0.32% | Shares |
| PRUDENTIAL FINANCIAL INC | $325,524 | 10,645 | 0.31% | Shares |
| FIRST MANHATTAN CO. LLC. | $293,721 | 9,605 | 0.28% | Shares |
| ALLIANCEBERNSTEIN L.P. | $285,194 | 11,110 | 0.27% | Shares |
| Hendershot Investments Inc. | $269,700 | 30 | 0.25% | Shares |
| Buckingham Capital Management, Inc. | $261,310 | 8,873 | 0.24% | Shares |
| Semanteon Capital Management, LP | $252,346 | 8,252 | 0.24% | Shares |
| IEQ CAPITAL, LLC | $249,074 | 8,145 | 0.23% | Shares |
| Sequoia Financial Advisors, LLC | $249,013 | 8,143 | 0.23% | Shares |
| MetLife Investment Management, LLC | $230,420 | 7,535 | 0.22% | Shares |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC | $229,809 | 7,515 | 0.22% | Shares |
| STIFEL FINANCIAL CORP | $216,995 | 7,096 | 0.20% | Shares |
| OCCUDO QUANTITATIVE STRATEGIES LP | $211,858 | 6,928 | 0.20% | Shares |
| Russell Investments Group, Ltd. | $211,216 | 6,907 | 0.20% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $190,819 | 6,240 | 0.18% | Shares |
| GLOBEFLEX CAPITAL L P | $181,370 | 5,931 | 0.17% | Shares |
| STRS OHIO | $174,306 | 5,700 | 0.16% | Shares |
| JPMORGAN CHASE & CO | $171,686 | 5,618 | 0.16% | Shares |
| Invesco Ltd. | $164,520 | 5,380 | 0.15% | Shares |
| Police & Firemen's Retirement System of New Jersey | $143,176 | 4,682 | 0.13% | Shares |
| Vanguard Global Advisers, LLC | $136,050 | 4,449 | 0.13% | Shares |
| State of Tennessee, Department of Treasury | $135,225 | 4,422 | 0.13% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $128,650 | 4,207 | 0.12% | Shares |
| Farther Finance Advisors, LLC | $120,733 | 3,948 | 0.11% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $114,033 | 3,729 | 0.11% | Shares |
| TRUST CO OF TOLEDO NA /OH/ | $111,311 | 3,640 | 0.10% | Shares |
| OSAIC HOLDINGS, INC. | $110,667 | 3,619 | 0.10% | Shares |
| VANGUARD GROUP INC | $109,979 | 4,449 | 0.10% | Shares |
| Clearstead Advisors, LLC | $80,887 | 2,645 | 0.08% | Shares |
| CoreCap Advisors, LLC | $69,201 | 2,263 | 0.06% | Shares |
| NORTHERN TRUST CORP | $65,105 | 2,129 | 0.06% | Shares |
| UBS Group AG | $62,444 | 2,042 | 0.06% | Shares |
| Larson Financial Group LLC | $62,230 | 2,035 | 0.06% | Shares |
| GAMMA Investing LLC | $59,172 | 1,935 | 0.06% | Shares |
| BARCLAYS PLC | $47,430 | 1,551 | 0.04% | Shares |
| Ameritas Investment Partners, Inc. | $40,977 | 1,340 | 0.04% | Shares |
| Legal & General Group Plc | $40,427 | 1,322 | 0.04% | Shares |
| Nuveen, LLC | $38,806 | 1,269 | 0.04% | Shares |
| Nuveen Asset Management, LLC | $37,372 | 1,269 | 0.04% | Shares |
| Arax Advisory Partners | $37,064 | 1,212 | 0.03% | Shares |
| MORGAN STANLEY | $35,656 | 1,166 | 0.03% | Shares |
| CITIGROUP INC | $31,436 | 1,028 | 0.03% | Shares |
| Tower Research Capital LLC (TRC) | $30,305 | 991 | 0.03% | Shares |
| Versant Capital Management, Inc | $24,862 | 813 | 0.02% | Shares |
| CWM, LLC | $20,562 | 801 | 0.02% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $17,635 | 687 | 0.02% | Shares |
| FMR LLC | $15,107 | 494 | 0.01% | Shares |
| ROYAL BANK OF CANADA | $13,000 | 427 | 0.01% | Shares |
| NISA INVESTMENT ADVISORS, LLC | $8,562 | 280 | 0.01% | Shares |
| Sterling Capital Management LLC | $8,348 | 273 | 0.01% | Shares |
| Allworth Financial LP | $5,321 | 174 | 0.00% | Shares |
| Integrated Wealth Concepts LLC | $5,320 | 174 | 0.00% | Shares |
| IFP Advisors, Inc | $2,844 | 93 | 0.00% | Shares |
| SBI Securities Co., Ltd. | $2,385 | 78 | 0.00% | Shares |
| Essential Partners LLC | $2,232 | 73 | 0.00% | Shares |
| Creative Planning | $1,927 | 63 | 0.00% | Shares |
| ACADIAN ASSET MANAGEMENT LLC | $1,879 | 61,586 | 0.00% | Shares |
| JPL Wealth Management, LLC | $1,621 | 53 | 0.00% | Shares |
| ROTHSCHILD INVESTMENT LLC | $1,498 | 49 | 0.00% | Shares |
| US BANCORP \DE\ | $1,162 | 38 | 0.00% | Shares |
Company insiders 41 insiders · 17 officers · 28 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Lars B Eller | President & CEO | June 4, 2026 A | 33,874 | 0 | 0 | $0 |
| Marcia Sloan Latta | Vice Chairman of the Board | June 4, 2026 A | 9,152 | 0 | 0 | $0 |
| Kevin J Sauder | Chairman of the Board | June 4, 2026 A | 8,448 | 0 | 0 | $0 |
| Eric D Faust | Chief Risk Officer | March 23, 2026 S | 5,538 | 0 | 2 | $-36,012 |
| Andrew S Baker | SVP/Chief Strategy Officer | March 2, 2026 A | 7,819 | 0 | 0 | $0 |
| Shalini Singhal | SVP/Chief Information Officer | March 2, 2026 A | 8,949 | 0 | 0 | $0 |
| Barbara J Britenriker | Exec. Vice President | March 2, 2026 A | 33,930 | 0 | 0 | $0 |
| Benet S Rupp | Exec. Vice President | March 2, 2023 A | 6,055 | 0 | 0 | $0 |
| Rex D Rice | Exec. Vice President | March 2, 2023 A | 24,045 | 0 | 0 | $0 |
| Edward A Leininger | Executive Vice President | May 27, 2022 F | 22,347 | 0 | 0 | $0 |
| Todd A Graham | Executive Vice Pres | Jan. 31, 2020 F | 1,404 | 0 | 0 | $0 |
| Katrina L Degroff | Sr. Vice President | Dec. 19, 2019 F | 1,921 | 0 | 0 | $0 |
| Allen Lantz | Executive Vice President | Jan. 4, 2019 F | 11,287 | 0 | 0 | $0 |
| David P Rupp JR | VICE PRESIDENT | Aug. 19, 2010 J | 30,000 | 0 | 0 | $0 |
| Richard J Lis | Exec. Vice President | Sept. 5, 2007 A | 920 | 0 | 0 | $0 |
| James C Burkhart | Senior VIce President | Sept. 6, 2005 A | 40 | 0 | 0 | $0 |
| Eugene Bernath | Chairman of the Board | Nov. 14, 2003 J | 4,608 | 0 | 0 | $0 |
| Andrew J Briggs | Director | Aug. 18, 2026 S | 49,148 | 0 | 68 | $-6,216,640 |
| Gregory R Allen | Director | Aug. 3, 2026 P | 300 | 1 | 0 | $10,341 |
| Ahmed Alomari | Director | June 4, 2026 A | 933 | 0 | 0 | $0 |
| Kevin G Frey | Director | June 4, 2026 A | 81,636 | 0 | 0 | $0 |
| Ian D Boyce | Director | June 4, 2026 A | 3,242 | 2 | 0 | $13,469 |
| David P Vernon | Director | June 4, 2026 A | 50,471 | 0 | 0 | $0 |
| Simon R. Frank | Director | June 4, 2026 A | 3,265 | 0 | 0 | $0 |
| Lori Ann Johnston | Director | June 4, 2026 A | 3,417 | 0 | 0 | $0 |
| Steven J Planson | Director | June 4, 2026 A | 29,431 | 1 | 0 | $54,545 |
| Jo Ellen Hornish | Director | June 5, 2025 A | 41,008 | 0 | 0 | $0 |
| Brad K. Stamm | Director | June 6, 2024 A | 143,910 | 0 | 0 | $0 |
| Eugene N Burkholder | Director | June 6, 2024 A | 25,667 | 0 | 0 | $0 |
| Jack Cornelius Jackson | Director | June 6, 2024 A | 5,422 | 0 | 0 | $0 |
| Anthony Rupp | Director | June 3, 2021 A | 19,313 | 0 | 0 | $0 |
| Steven Everhart | Director | June 3, 2021 A | 19,834 | 0 | 0 | $0 |
| Paul S Siebenmorgen | Director | June 3, 2021 A | 31,753 | 0 | 0 | $0 |
| Steven Wyse | Director | Sept. 12, 2016 P | 143,836 | 0 | 0 | $0 |
| Darryl L Faye | Director | Dec. 7, 2012 P | 1,200 | 0 | 0 | $0 |
| James Saneholtz | Director | March 1, 2012 P | 6,900 | 0 | 0 | $0 |
| Robert G Frey | Director | Dec. 15, 2011 P | 73,759 | 0 | 0 | $0 |
| Dean Miller | Director | June 10, 2008 J | 24,253 | 0 | 0 | $0 |
| Betty Young | Director | Jan. 5, 2007 J | 900 | 0 | 0 | $0 |
| Dexter Benecke | Director | Nov. 18, 2005 J | 1,423 | 0 | 0 | $0 |
| David R Gerken | — | Aug. 6, 2026 S | 6,509 | 0 | 2 | $-56,952 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 31 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| IWC · iShares Trust | 0.11% | 46,730 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.03% | 140,038 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.03% | 11,812 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.02% | 17,809 NS | May 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.02% | 379,270 SH | Aug. 8, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.01% | 1,196 SH | Aug. 8, 2026 | Daily |
| AVUV · AMERICAN CENTURY ETF TRUST | 0.01% | 115,324 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.01% | 5,615 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 78,219 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.01% | 598 NS | May 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.01% | 4,391 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.01% | 467 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.01% | 27,380 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 474 NS | May 31, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.00% | 19,514 NS | April 30, 2026 | N-PORT |
| DFSV · Dimensional ETF Trust | 0.00% | 9,712 NS | April 30, 2026 | N-PORT |
| AVSU · AMERICAN CENTURY ETF TRUST | 0.00% | 476 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 497 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 12 NS | May 31, 2026 | N-PORT |
| EBI · RBB Fund Trust | 0.00% | 345 NS | May 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 4,426 SH | Aug. 8, 2026 | Daily |
| DFSU · Dimensional ETF Trust | 0.00% | 569 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 6,363 NS | April 30, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 1,430 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 1,955 NS | April 30, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 1,027 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 148,532 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 416,556 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 957 SH | Aug. 8, 2026 | Daily |
| DCOR · Dimensional ETF Trust | 0.00% | 4 NS | April 30, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.00% | 4 NS | April 30, 2026 | N-PORT |