Farmers & Merchants Bancorp (NASDAQ:FMAO) Upgraded by Zacks Research to Strong-Buy Rating

Key Points

• Zacks Research upgraded Farmers & Merchants Bancorp from “hold” to “strong buy.” The stock’s broader analyst consensus is “Moderate Buy,” with an average price target of $32.25.
• FMAO shares opened at $33.34 after reportedly falling 4.9%, while the company’s latest quarterly results exceeded expectations: EPS was $0.86 versus a $0.67 consensus estimate, and revenue reached $34.35 million.
• Insiders sold 72,825 shares worth approximately $2.09 million over the past three months, while hedge funds and other institutional investors collectively own 23.96% of the company.

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

A number of other equities analysts also recently commented on FMAO. Hovde Group cut their price objective on shares of Farmers & Merchants Bancorp from $30.00 to $28.50 and set a "market perform" rating for the company in a research report on Friday, April 24th. Piper Sandler reaffirmed a "neutral" rating and issued a $36.00 target price (up from $32.00) on shares of Farmers & Merchants Bancorp in a report on Wednesday. Finally, Weiss Ratings upgraded shares of Farmers & Merchants Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, June 18th. One 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 stock. According to MarketBeat.com, Farmers & Merchants Bancorp currently has an average rating of "Moderate Buy" and a consensus target price of $32.25.

Farmers & Merchants Bancorp Trading Down 4.9%

Shares of FMAO stock opened at $33.34 on Wednesday. The company has a market capitalization of $459.09 million, a P/E ratio of 11.46 and a beta of 0.81. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.58. The business's 50 day moving average is $29.65 and its two-hundred day moving average is $27.62. Farmers & Merchants Bancorp has a twelve month low of $22.77 and a twelve month high of $35.94.

Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.67 by $0.19. Farmers & Merchants Bancorp had a return on equity of 10.83% and a net margin of 20.27%.The business had revenue of $34.35 million during the quarter, compared to analysts' expectations of $33.05 million. Equities analysts forecast that Farmers & Merchants Bancorp will post 2.94 EPS for the current year.

Insider Transactions at Farmers & Merchants Bancorp

In other news, Director Andrew J. Briggs sold 6,000 shares of Farmers & Merchants Bancorp stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $28.72, for a total transaction of $172,320.00. Following the completion of the sale, the director directly owned 168,550 shares in the company, valued at approximately $4,840,756. This trade represents a 3.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 72,825 shares of company stock valued at $2,091,612 over the last three months. Company insiders own 7.30% of the company's stock.

Hedge Funds Weigh In On Farmers & Merchants Bancorp

Several hedge funds have recently bought and sold shares of FMAO. Versant Capital Management Inc boosted its position in 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 purchasing an additional 341 shares in the last quarter. Royal Bank of Canada increased its position in shares of 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 buying an additional 643 shares in the last quarter. CANADA LIFE ASSURANCE Co acquired a new position in shares of Farmers & Merchants Bancorp during the 4th quarter worth $34,000. BNP Paribas Financial Markets raised its stake in shares of 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 worth $49,000 after buying an additional 509 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Farmers & Merchants Bancorp by 948.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,436 shares of the financial services provider's stock worth $112,000 after buying an additional 4,013 shares in the last quarter. 23.96% of the stock is owned by hedge funds and other institutional investors.

Farmers & Merchants Bancorp Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source