Farmers & Merchants Bancorp (NASDAQ:FMAO) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Farmers & Merchants Bancorp from “Buy” to “Hold,” although the stock retains a “Moderate Buy” consensus rating and a $32.25 average price target from analysts.
• FMAO reported quarterly EPS of $0.86, exceeding the $0.67 consensus estimate, while revenue of $34.35 million also topped expectations.
• Shares opened at $35.27, near their 52-week high of $35.94; institutional investors own 23.96% of the company, while insiders have sold 76,227 shares worth approximately $2.39 million in the past quarter.

Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

FMAO has been the subject of several other reports. Weiss Ratings raised shares of Farmers & Merchants Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, June 18th. Piper Sandler reissued a "neutral" rating and set a $36.00 price target (up from $32.00) on shares of Farmers & Merchants Bancorp in a research report on Wednesday, July 29th. Finally, Zacks Research upgraded shares of Farmers & Merchants Bancorp from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $32.25.

Farmers & Merchants Bancorp Price Performance

Shares of NASDAQ:FMAO opened at $35.27 on Friday. Farmers & Merchants Bancorp has a 1-year low of $22.77 and a 1-year high of $35.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.96 and a quick ratio of 0.96. The business has a fifty day moving average price of $32.75 and a 200-day moving average price of $29.01. The company has a market capitalization of $485.77 million, a PE ratio of 12.12 and a beta of 0.80.

Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.19. Farmers & Merchants Bancorp had a net margin of 20.27% and a return on equity of 10.72%. The company had revenue of $34.35 million for the quarter, compared to analysts' expectations of $33.05 million. As a group, equities analysts expect that Farmers & Merchants Bancorp will post 3.05 EPS for the current fiscal year.

Insider Transactions at Farmers & Merchants Bancorp

In other news, Director Andrew J. Briggs sold 6,000 shares of the firm's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $28.72, for a total transaction of $172,320.00. Following the sale, the director owned 168,550 shares of the company's stock, valued at $4,840,756. This trade represents a 3.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have sold 76,227 shares of company stock worth $2,387,122. 7.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Farmers & Merchants Bancorp in the second quarter worth approximately $33,241,000. The Manufacturers Life Insurance Company purchased a new stake in Farmers & Merchants Bancorp during the 2nd quarter valued at $8,843,000. Align Financial LLC purchased a new stake in Farmers & Merchants Bancorp during the 4th quarter valued at $6,844,000. Rhino Investment Partners Inc bought a new position in shares of Farmers & Merchants Bancorp during the 1st quarter valued at $1,765,000. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Farmers & Merchants Bancorp during the 1st quarter valued at $1,319,000. Institutional investors own 23.96% of the company's stock.

About Farmers & Merchants Bancorp

Farmers & Merchants Bancorp NASDAQ: FMAO is the bank holding company for Farmers & Merchants Bank of Central California, a community-focused institution headquartered in Los Banos, California. The bank traces its roots to 1916 and has grown to serve individuals, businesses and agricultural enterprises throughout the western San Joaquin Valley. Operating with a commitment to local decision-making, the company emphasizes personalized service and close ties to the communities in which it operates.

Through its banking subsidiary, Farmers & Merchants offers a comprehensive suite of financial products and services, including checking and savings accounts, certificates of deposit, online and mobile banking platforms, and merchant services.

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