Farmers & Merchants Bancorp (NASDAQ:FMAO) Rating Lowered to Hold at Zacks Investment Research


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Zacks Investment Research cut shares of Farmers & Merchants Bancorp (NASDAQ:FMAO) from a buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “Farmers & Merchants Bancorp, Inc. is the holding company for The Farmers & Merchants State Bank which operates as a locally owned and operated community bank serving Northwest Ohio and Northeast Indiana. The bank provides commercial banking, retail banking and other financial services through its 19 offices with locations in Fulton, Defiance, Henry, Williams, and Wood counties in Northwest Ohio. In Northeast Indiana they have offices located in DeKalb and Steuben counties. Farmers & Merchants Bancorp, Inc. is based in Archbold, Ohio. “

A number of other research analysts have also issued reports on FMAO. Piper Sandler lowered their target price on shares of Farmers & Merchants Bancorp from $23.50 to $21.50 and set a neutral rating on the stock in a research note on Tuesday, September 29th. Boenning Scattergood assumed coverage on Farmers & Merchants Bancorp in a research report on Thursday, September 24th. They issued a neutral rating on the stock. Stephens assumed coverage on Farmers & Merchants Bancorp in a research report on Friday, October 9th. They set an equal weight rating and a $22.50 price objective for the company. Finally, ValuEngine raised Farmers & Merchants Bancorp from a strong sell rating to a sell rating in a report on Tuesday, December 1st. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The company currently has an average rating of Hold and an average price target of $24.00.

Shares of NASDAQ FMAO opened at $25.00 on Wednesday. The business’s 50-day simple moving average is $23.40 and its 200-day simple moving average is $21.77. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.92 and a current ratio of 0.93. Farmers & Merchants Bancorp has a 52 week low of $17.40 and a 52 week high of $30.85. The firm has a market cap of $278.98 million, a price-to-earnings ratio of 15.34 and a beta of 0.30.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last announced its earnings results on Wednesday, October 21st. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). Farmers & Merchants Bancorp had a return on equity of 7.69% and a net margin of 21.65%. The company had revenue of $19.74 million for the quarter, compared to the consensus estimate of $18.10 million. As a group, equities research analysts forecast that Farmers & Merchants Bancorp will post 1.57 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 20th. Shareholders of record on Tuesday, December 29th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Monday, December 28th. Farmers & Merchants Bancorp’s dividend payout ratio (DPR) is presently 40.00%.

Several large investors have recently bought and sold shares of the company. California Public Employees Retirement System raised its position in shares of Farmers & Merchants Bancorp by 123.4% during the second quarter. California Public Employees Retirement System now owns 22,452 shares of the financial services provider’s stock valued at $477,000 after buying an additional 12,400 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Farmers & Merchants Bancorp by 332.3% during the third quarter. BNP Paribas Arbitrage SA now owns 2,434 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 1,871 shares during the period. Private Advisor Group LLC acquired a new position in Farmers & Merchants Bancorp in the 2nd quarter valued at approximately $37,000. Bank of America Corp DE raised its holdings in Farmers & Merchants Bancorp by 27.9% in the 2nd quarter. Bank of America Corp DE now owns 7,124 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 1,555 shares in the last quarter. Finally, Advisor Group Holdings Inc. lifted its position in shares of Farmers & Merchants Bancorp by 47.9% in the 2nd quarter. Advisor Group Holdings Inc. now owns 3,046 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 987 shares during the period. Institutional investors own 17.93% of the company’s stock.

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, retail banking, and other financial products and services to individuals and small businesses in northwest Ohio and northeast Indiana. The company offers checking account services, as well as savings and time deposit services, such as certificates of deposits; and custodial services for individual retirement and health savings accounts.

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