Zacks Research Downgrades Farmers & Merchants Bancorp (NASDAQ:FMAO) to Hold

Farmers & Merchants Bancorp (NASDAQ:FMAO) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

Other equities research analysts have also issued research reports about the stock. Piper Sandler restated a “neutral” rating and issued a $36.00 target price (up from $32.00) on shares of Farmers & Merchants Bancorp in a report on Wednesday, July 29th. Wall Street Zen downgraded shares of Farmers & Merchants Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, September 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Farmers & Merchants Bancorp in a research report on Monday, September 14th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $32.25.

Farmers & Merchants Bancorp Stock Down 0.3%

Shares of FMAO opened at $34.62 on Tuesday. The company has a market cap of $476.72 million, a PE ratio of 11.90 and a beta of 0.80. The business has a fifty day moving average of $34.47 and a 200 day moving average of $30.12. Farmers & Merchants Bancorp has a 52-week low of $22.77 and a 52-week high of $36.12. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.44.

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. Farmers & Merchants Bancorp had a net margin of 20.27% and a return on equity of 10.72%. The company had revenue of $34.35 million during the quarter, compared to analyst estimates of $33.05 million. On average, sell-side analysts expect that Farmers & Merchants Bancorp will post 3.05 EPS for the current year.

Insider Buying and Selling

In other Farmers & Merchants Bancorp news, Director Andrew Briggs sold 2,402 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $35.05, for a total transaction of $84,190.10. Following the transaction, the director directly owned 49,148 shares in the company, valued at $1,722,637.40. This trade represents a 4.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David R. Gerken sold 1,000 shares of Farmers & Merchants Bancorp stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $33.72, for a total value of $33,720.00. Following the sale, the executive vice president directly owned 6,509 shares of the company’s stock, valued at approximately $219,483.48. This trade represents a 13.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 42,402 shares of company stock valued at $1,407,190 in the last quarter. 7.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Farmers & Merchants Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc increased its stake in shares of Farmers & Merchants Bancorp by 72.2% during the second quarter. Versant Capital Management Inc now owns 813 shares of the financial services provider’s stock valued at $25,000 after buying an additional 341 shares during the period. Legal & General Group Plc purchased a new stake in Farmers & Merchants Bancorp in the second quarter worth about $40,000. Globeflex Capital L P purchased a new stake in Farmers & Merchants Bancorp in the first quarter worth about $152,000. Walleye Capital LLC bought a new position in Farmers & Merchants Bancorp during the 1st quarter worth about $204,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Farmers & Merchants Bancorp during the 2nd quarter worth about $230,000. Institutional investors 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. Its principal subsidiary, Farmers & Merchants Bank, is a community bank that provides financial services to individuals, families, farmers, and businesses.

The bank offers deposit accounts, residential and commercial real estate lending, consumer loans, agricultural financing, commercial loans, and other credit products. It also provides online and mobile banking, treasury management, trust and investment services, and other financial solutions designed to support personal and business banking needs.

Farmers & Merchants Bank traces its history to 1897 and serves communities primarily in northwest Ohio and southeast Michigan through its branch network and digital banking channels.