Farmers & Merchants Bancorp (NASDAQ:FMAO) Stock Lifted to "Strong-Buy" by Zacks Research

Key Points

• Zacks Research upgraded Farmers & Merchants Bancorp to “Strong Buy” from “Hold.” Other analysts remain more cautious, resulting in a consensus “Moderate Buy” rating and a $33.75 target price.
• FMAO shares rose 1.5% to open at $37.11, near their 52-week high of $37.60. The company recently reported quarterly EPS of $0.84, beating estimates of $0.80, while revenue slightly exceeded expectations.
• Insiders sold 24,402 shares worth approximately $845,410 over the past 90 days, while institutional ownership stands at 23.96% after several firms, including BlackRock, initiated positions.

Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Wednesday, Zacks reports.

A number of other research firms have also commented on FMAO. Wall Street Zen lowered Farmers & Merchants Bancorp from a "buy" rating to a "hold" rating in a research report on Saturday, September 5th. Weiss Ratings cut Farmers & Merchants Bancorp from a "buy (b)" rating to a "hold (c)" rating in a report on Wednesday. Finally, Piper Sandler reiterated a "neutral" rating and issued a $39.00 price objective (up from $36.00) on shares of Farmers & Merchants Bancorp in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $33.75.

Farmers & Merchants Bancorp Trading Up 1.5%

Shares of Farmers & Merchants Bancorp stock opened at $37.11 on Wednesday. The company's fifty day simple moving average is $35.11 and its 200-day simple moving average is $29.96. The company has a market cap of $511.12 million, a price-to-earnings ratio of 11.93 and a beta of 0.81. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.43. Farmers & Merchants Bancorp has a 1 year low of $22.91 and a 1 year high of $37.60.

Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.04. The company had revenue of $34.81 million during the quarter, compared to analysts' expectations of $34.65 million. Farmers & Merchants Bancorp had a net margin of 21.30% and a return on equity of 11.25%. As a group, sell-side analysts expect that Farmers & Merchants Bancorp will post 3.20 EPS for the current year.

Insider Transactions at Farmers & Merchants Bancorp

In other Farmers & Merchants Bancorp news, Director Andrew Briggs sold 2,402 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $35.05, for a total value of $84,190.10. Following the completion of the transaction, the director directly owned 49,148 shares of the company's stock, valued at approximately $1,722,637.40. The trade was a 4.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David R. Gerken sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $33.72, for a total value of $33,720.00. Following the completion of the transaction, the executive vice president owned 6,509 shares of the company's stock, valued at $219,483.48. This represents a 13.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 24,402 shares of company stock valued at $845,410. 7.30% of the stock is currently owned by company insiders.

Institutional Trading of Farmers & Merchants Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of FMAO. BlackRock Inc. acquired a new position in Farmers & Merchants Bancorp during the 2nd quarter worth approximately $33,241,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Farmers & Merchants Bancorp in the second quarter valued at approximately $8,843,000. Rhino Investment Partners Inc bought a new stake in shares of Farmers & Merchants Bancorp in the first quarter worth $1,765,000. Segall Bryant & Hamill LLC bought a new stake in shares of Farmers & Merchants Bancorp in the first quarter worth $1,319,000. Finally, Bank of New York Mellon Corp acquired a new position in Farmers & Merchants Bancorp during the second quarter worth $1,524,000. Institutional investors and hedge funds own 23.96% of the company's stock.

About Farmers & Merchants Bancorp

Farmers & Merchants Bancorp, Inc is a bank holding company headquartered in Archbold, Ohio. Founded in 1897, the company operates through its principal subsidiary, The Farmers & Merchants State Bank, a community bank serving individuals, families, farmers and businesses.

The bank offers a range of traditional financial services, including checking and savings accounts, certificates of deposit, consumer and residential mortgage loans, commercial lending, agricultural loans and other business banking products.

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