Farmers & Merchants Bancorp (NASDAQ:FMAO) Receives New Coverage from Analysts at Hovde Group

Investment analysts at Hovde Group began coverage on shares of Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage set a "market perform" rating and a $22.00 price target on the financial services provider's stock. Hovde Group's target price points to a potential upside of 3.63% from the company's current price.

Farmers & Merchants Bancorp Trading Down 0.6 %

FMAO stock traded down $0.12 during trading on Friday, reaching $21.23. 11,495 shares of the stock were exchanged, compared to its average volume of 19,797. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.93. The business has a 50 day moving average price of $21.24 and a 200-day moving average price of $20.59. Farmers & Merchants Bancorp has a 1 year low of $16.90 and a 1 year high of $27.78. The firm has a market capitalization of $290.00 million, a price-to-earnings ratio of 12.71 and a beta of 0.61.

Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) last issued its earnings results on Tuesday, February 13th. The financial services provider reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.09. Farmers & Merchants Bancorp had a net margin of 14.62% and a return on equity of 7.46%. The company had revenue of $23.86 million for the quarter, compared to the consensus estimate of $22.90 million. On average, research analysts predict that Farmers & Merchants Bancorp will post 1.5 earnings per share for the current year.

Insider Buying and Selling at Farmers & Merchants Bancorp

In related news, Director Jo Ellen Hornish purchased 3,594 shares of the company's stock in a transaction on Friday, March 1st. The stock was acquired at an average cost of $20.56 per share, for a total transaction of $73,892.64. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at $822,400. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 7.76% 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 the stock. Lazard Asset Management LLC acquired a new position in shares of Farmers & Merchants Bancorp in the fourth quarter valued at approximately $28,000. Legal & General Group Plc acquired a new position in shares of Farmers & Merchants Bancorp in the second quarter valued at approximately $37,000. Tower Research Capital LLC TRC grew its holdings in shares of Farmers & Merchants Bancorp by 88.1% in the third quarter. Tower Research Capital LLC TRC now owns 2,135 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 1,000 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of Farmers & Merchants Bancorp by 84.3% in the second quarter. Osaic Holdings Inc. now owns 4,132 shares of the financial services provider's stock valued at $93,000 after purchasing an additional 1,890 shares in the last quarter. Finally, Citigroup Inc. acquired a new position in shares of Farmers & Merchants Bancorp in the second quarter valued at approximately $94,000. 23.96% of the stock is currently owned by institutional investors and hedge funds.

Farmers & Merchants Bancorp Company Profile

Farmers & Merchants Bancorp, Inc operates as the bank holding company for The Farmers & Merchants State Bank that provides commercial banking services to individuals and small businesses in Northwest Ohio and Northeast Indiana. The company offers checking, savings, and time deposit accounts; certificates of deposit; and custodial services for individual retirement and health savings accounts.