Farmers & Merchants Bancorp Inc. (FMAO) Upgraded to “Buy” at Zacks Investment Research
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 on Friday. The brokerage presently has a $91.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 20.91% from the company’s previous close.
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 down 7.26% during trading on Friday, reaching $75.26. 188,978 shares of the company traded hands. The stock’s 50 day moving average price is $65.18 and its 200-day moving average price is $53.96. The stock has a market cap of $344.47 million, a P/E ratio of 28.33 and a beta of 0.04. Farmers & Merchants Bancorp has a 12 month low of $30.50 and a 12 month high of $87.79. Farmers & Merchants Bancorp’s stock is scheduled to split before the market opens on Thursday, September 21st. The 2-1 split was announced on Friday, August 18th. The newly minted shares will be payable to shareholders after the closing bell on Wednesday, September 20th.
Farmers & Merchants Bancorp (NASDAQ:FMAO) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $11.64 million for the quarter, compared to analysts’ expectations of $11.49 million. On average, equities research analysts expect that Farmers & Merchants Bancorp will post $2.70 EPS for the current fiscal year.
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In other news, Director K. Brad Stamm sold 625 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $81.00, for a total transaction of $50,625.00. Following the sale, the director now owns 80,468 shares in the company, valued at approximately $6,517,908. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven Everhart sold 1,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 10,998 shares in the company, valued at approximately $593,892. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,697 shares of company stock worth $285,096. Company insiders own 5.03% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Northern Trust Corp bought a new stake in shares of Farmers & Merchants Bancorp during the 2nd quarter worth approximately $2,363,000. Goldman Sachs Group Inc. bought a new stake in Farmers & Merchants Bancorp in the 2nd quarter valued at $945,000. State Street Corp bought a new stake in Farmers & Merchants Bancorp in the 2nd quarter valued at $884,000. Bank of New York Mellon Corp bought a new stake in Farmers & Merchants Bancorp in the 2nd quarter valued at $791,000. Finally, TIAA CREF Investment Management LLC bought a new stake in Farmers & Merchants Bancorp in the 2nd quarter valued at $743,000. Institutional investors own 7.77% of the company’s stock.
About Farmers & Merchants Bancorp
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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