Farmers & Merchants Bancorp (NASDAQ:FMAO) Reaches New 12-Month High – Still a Buy?

Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO) shares reached a new 52-week high on Wednesday. The company traded as high as $37.71 and last traded at $37.5220, with a volume of 64,293 shares trading hands. The stock had previously closed at $36.38.

Wall Street Analysts Forecast Growth

FMAO has been the topic of several research reports. Piper Sandler reissued a “neutral” rating and set a $39.00 target price (up from $36.00) on shares of Farmers & Merchants Bancorp in a research note on Monday, October 26th. Zacks Research raised Farmers & Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 28th. Wall Street Zen downgraded Farmers & Merchants Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, September 5th. Finally, Weiss Ratings lowered shares of Farmers & Merchants Bancorp from a “buy (b)” rating to a “hold (c)” rating in a report on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Farmers & Merchants Bancorp has an average rating of “Moderate Buy” and an average price target of $33.75.

Farmers & Merchants Bancorp Trading Up 3.0%

The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a fifty day simple moving average of $35.27 and a 200 day simple moving average of $30.13. The firm has a market cap of $515.72 million, a P/E ratio of 12.05 and a beta of 0.76.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last released its earnings results on Thursday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.80 by $0.04. The firm had revenue of $34.81 million for the quarter, compared to the consensus estimate of $34.65 million. Farmers & Merchants Bancorp had a net margin of 21.30% and a return on equity of 11.25%. On average, research analysts expect that Farmers & Merchants Bancorp Inc. will post 3.22 earnings per share for the current fiscal year.

Farmers & Merchants Bancorp Announces Dividend

The firm also recently announced a special dividend, which was paid on Tuesday, October 20th. Investors of record on Friday, October 9th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, October 9th. Farmers & Merchants Bancorp’s dividend payout ratio (DPR) is 30.87%.

Insider Activity

In related news, EVP David Gerken sold 1,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $33.72, for a total transaction of $33,720.00. Following the completion of the sale, the executive vice president directly owned 6,509 shares in the company, valued at approximately $219,483.48. This trade represents a 13.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew J. Briggs sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $35.11, for a total transaction of $105,330.00. Following the sale, the director directly owned 51,550 shares in the company, valued at approximately $1,809,920.50. The trade was a 5.50% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 18,402 shares of company stock worth $640,060. Corporate insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Farmers & Merchants Bancorp

Large investors have recently made changes to their positions in the business. Alps Advisors Inc. acquired a new position in shares of Farmers & Merchants Bancorp during the third quarter worth approximately $561,000. State of Alaska Department of Revenue boosted its stake in Farmers & Merchants Bancorp by 126.0% in the third quarter. State of Alaska Department of Revenue now owns 956 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 533 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Farmers & Merchants Bancorp by 25.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,436 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 501 shares during the period. Park National Corp OH acquired a new position in shares of Farmers & Merchants Bancorp in the 3rd quarter valued at $208,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Farmers & Merchants Bancorp in the 2nd quarter worth $249,000. 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.