Farmers & Merchants Bancorp Inc. (OTCBB:FMAO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

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. “

Separately, Boenning Scattergood cut Farmers & Merchants Bancorp from an “outperform” rating to a “neutral” rating in a research note on Thursday, July 21st.

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Shares of Farmers & Merchants Bancorp (OTCBB:FMAO) remained flat at $30.50 during mid-day trading on Tuesday. The firm’s 50 day moving average is $31.00 and its 200 day moving average is $29.14. The company has a market cap of $139.29 million, a price-to-earnings ratio of 12.97 and a beta of 0.11. Farmers & Merchants Bancorp has a 1-year low of $25.50 and a 1-year high of $32.51.

In related news, Director Eugene N. Burkholder bought 1,000 shares of the stock in a transaction on Friday, August 19th. The stock was bought at an average price of $32.00 per share, for a total transaction of $32,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.99% of the stock is owned by corporate insiders.

Farmers & Merchants Bancorp Company Profile

Farmers & Merchants Bancorp, Inc is a bank holding company, which through its bank subsidiary, The Farmers & Merchants State Bank (the Bank), provides a range of financial services to individuals and small businesses through its offices in Northwest Ohio and Northeast Indiana. The Bank engages in general commercial banking business, which include commercial, agricultural and residential mortgage, consumer and credit card lending activities.

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