Farmers & Merchants Bancorp (NASDAQ:FMAO) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Farmers & Merchants Bancorp from “strong buy” to “hold,” joining Wall Street Zen’s hold rating. Analysts’ consensus is now “Hold,” with a target price of $32.25.
• FMAO reported quarterly EPS of $0.86, beating estimates of $0.67, while revenue reached $34.35 million versus the $33.05 million consensus estimate.
• The stock opened at $34.62, near its 52-week high of $36.12. Insiders sold 42,402 shares worth approximately $1.41 million during the last quarter, while institutional investors own 23.96% of the company.

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

Several other research analysts have also weighed in on the stock. Wall Street Zen lowered shares of Farmers & Merchants Bancorp from a "buy" rating to a "hold" rating in a report on Saturday, September 5th. Piper Sandler restated a "neutral" rating and issued a $36.00 target price (up from $32.00) on shares of Farmers & Merchants Bancorp in a research note on Wednesday, July 29th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Farmers & Merchants Bancorp in a research report on Monday, September 14th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Farmers & Merchants Bancorp currently has an average rating of "Hold" and a consensus price target of $32.25.

Farmers & Merchants Bancorp Price Performance

Shares of NASDAQ FMAO opened at $34.62 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.44. Farmers & Merchants Bancorp has a fifty-two week low of $22.77 and a fifty-two week high of $36.12. The business has a 50 day moving average price of $34.47 and a two-hundred day moving average price of $30.12. The firm has a market cap of $476.72 million, a PE ratio of 11.90 and a beta of 0.80.

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

Insider Buying and Selling at Farmers & Merchants Bancorp

In other news, Director Andrew Briggs sold 2,402 shares of the firm's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $35.05, for a total value of $84,190.10. Following the transaction, the director directly owned 49,148 shares in the company, valued at approximately $1,722,637.40. This trade represents a 4.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David R. Gerken sold 1,000 shares of the firm's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $33.72, for a total transaction of $33,720.00. Following the completion of the transaction, the executive vice president owned 6,509 shares in the company, valued at approximately $219,483.48. The trade was a 13.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 42,402 shares of company stock valued at $1,407,190. 7.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Farmers & Merchants Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc boosted its stake in Farmers & Merchants Bancorp by 72.2% in the second quarter. Versant Capital Management Inc now owns 813 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 341 shares during the period. Legal & General Group Plc acquired a new stake in shares of Farmers & Merchants Bancorp during the 2nd quarter worth approximately $40,000. Globeflex Capital L P acquired a new stake in shares of Farmers & Merchants Bancorp during the 1st quarter worth approximately $152,000. Walleye Capital LLC bought a new stake in shares of Farmers & Merchants Bancorp in the 1st quarter worth approximately $204,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Farmers & Merchants Bancorp during the 2nd quarter valued at approximately $230,000. Institutional investors and hedge funds own 23.96% of the company's stock.

Farmers & Merchants Bancorp Company Profile

Farmers & Merchants Bancorp, Inc is a bank holding company headquartered in Archbold, Ohio. Its principal subsidiary, Farmers & Merchants Bank, is a community bank that provides financial services to individuals, families, farmers, and businesses.

The bank offers deposit accounts, residential and commercial real estate lending, consumer loans, agricultural financing, commercial loans, and other credit products. It also provides online and mobile banking, treasury management, trust and investment services, and other financial solutions designed to support personal and business banking needs.

Farmers & Merchants Bank traces its history to 1897 and serves communities primarily in northwest Ohio and southeast Michigan through its branch network and digital banking channels.

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