Farmers & Merchants Bancorp (NASDAQ:FMAO) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Farmers & Merchants Bancorp (NASDAQ:FMAO) from a hold rating to a buy rating in a report issued on Thursday, December 21st. Zacks Investment Research currently has $49.00 target price on the financial services provider’s stock.

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. “

Several other research firms have also recently weighed in on FMAO. ValuEngine upgraded shares of Farmers & Merchants Bancorp from a hold rating to a buy rating in a report on Friday, September 22nd. Boenning Scattergood restated a hold rating on shares of Farmers & Merchants Bancorp in a report on Thursday, October 19th.

Farmers & Merchants Bancorp (NASDAQ:FMAO) opened at $38.48 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.92 and a current ratio of 0.92. Farmers & Merchants Bancorp has a one year low of $17.38 and a one year high of $44.00. The company has a market cap of $356.58, a P/E ratio of 28.50 and a beta of 0.23.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last issued its earnings results on Wednesday, October 18th. The financial services provider reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $11.84 million for the quarter, compared to the consensus estimate of $11.85 million. Farmers & Merchants Bancorp had a net margin of 24.46% and a return on equity of 9.65%. sell-side analysts predict that Farmers & Merchants Bancorp will post 1.35 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 20th. Stockholders of record on Tuesday, December 26th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Friday, December 22nd. Farmers & Merchants Bancorp’s dividend payout ratio (DPR) is presently 38.52%.

In other news, insider Todd A. Graham sold 2,800 shares of Farmers & Merchants Bancorp stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $36.94, for a total value of $103,432.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.03% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Northern Trust Corp purchased a new position in Farmers & Merchants Bancorp in the 2nd quarter worth about $2,363,000. Bank of New York Mellon Corp raised its position in Farmers & Merchants Bancorp by 161.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 33,334 shares of the financial services provider’s stock worth $1,215,000 after buying an additional 20,580 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in Farmers & Merchants Bancorp in the 2nd quarter worth about $945,000. Schwab Charles Investment Management Inc. raised its position in Farmers & Merchants Bancorp by 100.0% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 15,200 shares of the financial services provider’s stock worth $555,000 after buying an additional 7,600 shares during the last quarter. Finally, Tufton Capital Management raised its position in Farmers & Merchants Bancorp by 100.0% in the 3rd quarter. Tufton Capital Management now owns 14,730 shares of the financial services provider’s stock worth $537,000 after buying an additional 7,365 shares during the last quarter. 13.57% of the stock is owned by hedge funds and other institutional investors.

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Farmers & Merchants Bancorp Company Profile

Farmers & Merchants Bancorp, Inc is a bank holding company. The Company’s primary subsidiary, The Farmers & Merchants State Bank (the Bank), is a community bank operating in Northwest Ohio and Northeast Indiana. The Company’s other subsidiary, Farmers & Merchants Risk Management (Captive), is a captive insurance company.

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