Farmers & Merchants Bancorp (NASDAQ:FMAO) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Wall Street Zen upgraded Farmers & Merchants Bancorp to “buy” from “hold,” while Zacks Research raised its rating to “strong buy.” Analysts’ consensus rating is “Moderate Buy,” with an average price target 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 forecast.
• The stock opened at $33.36, near its 52-week high of $35.94. Insiders sold $2.20 million of shares over the past quarter, while institutional investors own 23.96% of the company.

Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

FMAO has been the subject of a number of other research reports. Zacks Research raised Farmers & Merchants Bancorp from a "hold" rating to a "strong-buy" rating in a report on Wednesday. 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 note on Wednesday. Hovde Group reduced their price target on Farmers & Merchants Bancorp from $30.00 to $28.50 and set a "market perform" rating on the stock in a report on Friday, April 24th. Finally, Weiss Ratings upgraded Farmers & Merchants Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Farmers & Merchants Bancorp presently has a consensus rating of "Moderate Buy" and an average price target of $32.25.

Farmers & Merchants Bancorp Stock Performance

NASDAQ FMAO opened at $33.36 on Friday. The firm's fifty day moving average price is $29.77 and its two-hundred day moving average price is $27.66. The stock has a market cap of $459.37 million, a PE ratio of 11.46 and a beta of 0.81. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 0.96. Farmers & Merchants Bancorp has a fifty-two week low of $22.77 and a fifty-two week high of $35.94.

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 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 during the quarter, compared to analysts' expectations of $33.05 million. On average, equities analysts expect that Farmers & Merchants Bancorp will post 2.94 EPS for the current fiscal year.

Insider Buying and Selling at Farmers & Merchants Bancorp

In related news, Director Andrew J. Briggs sold 3,000 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $34.86, for a total value of $104,580.00. Following the completion of the sale, the director directly owned 87,550 shares in the company, valued at $3,051,993. This represents a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 75,825 shares of company stock valued at $2,196,192 over the last quarter. Insiders own 7.30% of the company's stock.

Institutional Investors Weigh In On Farmers & Merchants Bancorp

A number of institutional investors have recently made changes to their positions in FMAO. Versant Capital Management Inc raised its position in shares of Farmers & Merchants Bancorp by 72.2% during the second quarter. Versant Capital Management Inc now owns 813 shares of the financial services provider's stock worth $25,000 after acquiring an additional 341 shares during the last quarter. Royal Bank of Canada boosted its holdings in Farmers & Merchants Bancorp by 124.6% in the fourth quarter. Royal Bank of Canada now owns 1,159 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 643 shares during the last quarter. CANADA LIFE ASSURANCE Co acquired a new stake in Farmers & Merchants Bancorp during the 4th quarter valued at approximately $34,000. BNP Paribas Financial Markets increased its position in Farmers & Merchants Bancorp by 36.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,924 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 509 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Farmers & Merchants Bancorp by 948.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,436 shares of the financial services provider's stock worth $112,000 after purchasing an additional 4,013 shares during the last quarter. 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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