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

Zacks Research upgraded shares of Farmers & Merchants Bancorp (NASDAQ:FMAO) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

A number of other brokerages have also recently commented on FMAO. Hovde Group dropped their price target on Farmers & Merchants Bancorp from $30.00 to $28.50 and set a “market perform” rating on the stock in a research report on Friday, April 24th. Weiss Ratings raised Farmers & Merchants Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. Finally, Piper Sandler reiterated a “neutral” rating and set a $36.00 price objective (up from $32.00) on shares of Farmers & Merchants Bancorp in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.25.

Farmers & Merchants Bancorp Trading Down 4.9%

Shares of NASDAQ FMAO opened at $33.34 on Wednesday. Farmers & Merchants Bancorp has a 1 year low of $22.77 and a 1 year high of $35.94. The stock has a market cap of $459.09 million, a P/E ratio of 11.46 and a beta of 0.81. The firm has a 50-day moving average of $29.65 and a 200 day moving average of $27.62. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.98 and a quick ratio of 0.98.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last posted its quarterly earnings data 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. The business had revenue of $34.35 million for the quarter, compared to analyst estimates of $33.05 million. Farmers & Merchants Bancorp had a net margin of 20.27% and a return on equity of 10.83%. As a group, sell-side analysts expect that Farmers & Merchants Bancorp will post 2.94 EPS for the current fiscal year.

Farmers & Merchants Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Friday, July 10th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, July 10th. Farmers & Merchants Bancorp’s dividend payout ratio is currently 31.62%.

Insider Activity at Farmers & Merchants Bancorp

In related news, Director Andrew J. Briggs sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $31.59, for a total transaction of $94,770.00. Following the completion of the sale, the director owned 93,550 shares of the company’s stock, valued at $2,955,244.50. This trade represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 72,825 shares of company stock worth $2,091,612 in the last 90 days. Corporate insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Farmers & Merchants Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new stake in Farmers & Merchants Bancorp during the 1st quarter valued at $380,000. Franklin Resources Inc. purchased a new position in shares of Farmers & Merchants Bancorp in the second quarter worth $210,000. Bridgeway Capital Management LLC lifted its holdings in shares of Farmers & Merchants Bancorp by 2.1% during the second quarter. Bridgeway Capital Management LLC now owns 19,257 shares of the financial services provider’s stock valued at $487,000 after purchasing an additional 401 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Farmers & Merchants Bancorp by 36.0% during the second 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 in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Farmers & Merchants Bancorp by 948.7% during the second quarter. Tower Research Capital LLC TRC now owns 4,436 shares of the financial services provider’s stock valued at $112,000 after buying an additional 4,013 shares during the last quarter. 23.96% of the stock is owned by 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.