Hornish Jo Ellen purchased ~$79K in Farmers & Merchants Bancorp, Inc. stock
Farmers & Merchants Bancorp, Inc. (FMAO) · Data via SEC EDGAR Form 4
Price Performance · 10 days before → 90 days after trade
▲ = insider buy date
90-day return
+7.5%vs SPY +2.2%
Trade Details · Public SEC Filing
Insider
Hornish Jo Ellen
Role
—
Transaction
Open-Market Purchase
Approx. Value
~$79K
Trade Date
Mar 1, 2024
Company
Farmers & Merchants Bancorp, Inc.
Ticker
FMAOSource
SEC EDGAR Form 4
Why This Trade Stands Out
Strong conviction signal
Scored above average across multiple factors. Roughly 15% of insider trades qualify as Strong.
~$79K purchase
A personal investment by a corporate insider. Even smaller trades can be meaningful when combined with other factors like timing and role.
2 insiders traded in the same window
When multiple insiders independently buy within 30 days, it's called a cluster. Studies show clustered insider purchases outperform solo trades significantly, because several people with inside knowledge are reaching the same conclusion.
+7.5% in 90 days (S&P 500: +2.2%)
This trade beat the S&P 500 by 5.3 percentage points over 90 days. We track performance on every insider trade so you can see who consistently outperforms.
How good is Hornish Jo Ellen at picking stocks?
Full track record: win rate, average return, and performance vs S&P 500
Hornish Jo Ellen wasn't the only one buying.
2 insiders at Farmers & Merchants Bancorp, Inc. traded within the same 30-day window.
See who else bought · FreeOn March 1, 2024, Hornish Jo Ellen — a corporate insider at Farmers & Merchants Bancorp, Inc. — filed a Form 4 with the SEC disclosing an open-market purchase of approximately ~$79K in Farmers & Merchants Bancorp, Inc. (FMAO) stock.
This transaction was part of a cluster — 2 insiders at Farmers & Merchants Bancorp, Inc. made open-market purchases within the same 30-day window. Cluster activity from multiple independent insiders is one of the most studied patterns in insider trading research.
Under Section 16(a) of the Securities Exchange Act of 1934, corporate insiders must report all open-market stock transactions to the SEC within two business days. These filings — known as Form 4s — are publicly available on the SEC's EDGAR database. VeritySignals filters and scores the full Form 4 stream to surface high-conviction signals like this one.
In the 90 days following this trade, FMAO returned +7.5% versus +2.2% for the S&P 500 over the same period.
VeritySignals Conviction Analysis
Full Conviction Analysis
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All data sourced from publicly available SEC Form 4 filings via EDGAR · Not financial advice · Past performance does not guarantee future results.
At a Glance
More FMAO Insider Activity
Planson Steven J
Oct 31, 2025
~$230K
STRONG
Burkholder Eugene N
Aug 29, 2022
~$43K
STRONG
Hornish Jo Ellen
Jun 24, 2022
~$102K
STRONG
Hornish Jo Ellen
Feb 17, 2022
~$100K
VS
How to Read Insider Trades
What is this?
When company executives buy or sell their own stock, they must report it to the SEC within 2 days. These public filings reveal what the people who know the company best are doing with their own money.
Why does it matter?
Insiders can sell for many reasons (taxes, diversification, expenses), but they generally only buy for one: they think the stock is going up. That's why insider purchases are more predictive than sales.
What makes a trade "strong"?
We score trades on 15+ factors: the insider's role (CEO > director), trade size relative to their salary, whether other insiders also bought (clusters), and historical accuracy of the insider.
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