Zacks Investment Research Lowers Farmers & Merchants Bancorp Inc. (FMAO) to Hold
Farmers & Merchants Bancorp Inc. (OTCBB:FMAO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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 shares of Farmers & Merchants Bancorp from an “outperform” rating to a “neutral” rating in a research report 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 stock’s 50-day moving average is $31.00 and its 200 day moving average is $29.14. Farmers & Merchants Bancorp has a 1-year low of $25.50 and a 1-year high of $32.51. The stock has a market capitalization of $139.29 million, a P/E ratio of 12.97 and a beta of 0.11.
In related news, Director Eugene N. Burkholder bought 1,000 shares of the business’s stock in a transaction dated Friday, August 19th. The shares were purchased at an average price of $32.00 per share, with a total value of $32,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 5.99% of the stock is currently owned by company insiders.
About Farmers & Merchants Bancorp
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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