Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm currently has a $90.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 9.69% from the company’s current price.

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, ValuEngine upgraded Farmers & Merchants Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd.

Shares of Farmers & Merchants Bancorp (FMAO) traded up 1.86% during mid-day trading on Thursday, reaching $82.05. The company had a trading volume of 37,531 shares. The firm’s 50 day moving average is $60.48 and its 200-day moving average is $52.01. The stock has a market capitalization of $375.54 million, a P/E ratio of 30.88 and a beta of 0.04. Farmers & Merchants Bancorp has a 12-month low of $29.51 and a 12-month high of $83.43. Farmers & Merchants Bancorp’s stock is scheduled to split on Thursday, September 21st. The 2-1 split was announced on Friday, August 18th. The newly issued shares will be payable to shareholders after the closing bell on Wednesday, September 20th.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.06. Farmers & Merchants Bancorp had a return on equity of 9.60% and a net margin of 24.37%. The firm had revenue of $11.64 million for the quarter, compared to analyst estimates of $11.49 million. On average, analysts expect that Farmers & Merchants Bancorp will post $2.70 earnings per share for the current fiscal year.

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In other news, Director Steven Everhart sold 1,000 shares of Farmers & Merchants Bancorp stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $54.00, for a total value of $54,000.00. Following the transaction, the director now owns 10,998 shares in the company, valued at approximately $593,892. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 5.03% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of FMAO. Tufton Capital Management bought a new position in shares of Farmers & Merchants Bancorp in the 2nd quarter valued at $457,000. Schwab Charles Investment Management Inc. bought a new position in shares of Farmers & Merchants Bancorp in the 2nd quarter valued at $472,000. Rhumbline Advisers bought a new position in shares of Farmers & Merchants Bancorp in the 2nd quarter valued at $296,000. Bank of New York Mellon Corp bought a new position in shares of Farmers & Merchants Bancorp in the 2nd quarter valued at $791,000. Finally, Teachers Advisors LLC bought a new position in shares of Farmers & Merchants Bancorp in the 2nd quarter valued at $498,000. Institutional investors own 7.77% of the company’s stock.

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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