Farmers & Merchants Bancorp Inc. (FMAO) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO) from a hold rating to a buy rating in a research report sent to investors on Thursday morning. The firm currently has $90.00 target price on the financial services provider’s stock.

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 shares of Farmers & Merchants Bancorp from a hold rating to a buy rating in a report on Friday, June 2nd.

Farmers & Merchants Bancorp (NASDAQ:FMAO) traded down 0.09% during trading on Thursday, reaching $81.98. The company’s stock had a trading volume of 34,801 shares. The stock’s 50-day moving average is $61.78 and its 200 day moving average is $52.43. Farmers & Merchants Bancorp has a 12 month low of $30.00 and a 12 month high of $83.43. The company has a market cap of $375.22 million, a P/E ratio of 30.85 and a beta of 0.04. Farmers & Merchants Bancorp’s stock is going to split on the morning of Thursday, September 21st. The 2-1 split was announced on Friday, August 18th. The newly created shares will be payable to shareholders after the market closes 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 for the quarter, beating the consensus estimate of $0.64 by $0.06. Farmers & Merchants Bancorp had a net margin of 24.37% and a return on equity of 9.60%. The firm had revenue of $11.64 million for the quarter, compared to analyst estimates of $11.49 million. On average, equities analysts forecast 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 business’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $81.00, for a total transaction of $50,625.00. Following the completion of the sale, the director now directly owns 80,468 shares of the company’s stock, valued at $6,517,908. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven Everhart sold 1,000 shares of the business’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $54.00, for a total transaction of $54,000.00. Following the sale, the director now directly owns 10,998 shares of the company’s stock, valued at $593,892. The disclosure for this sale can be found here. 5.03% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of FMAO. Northern Trust Corp bought a new stake in shares of Farmers & Merchants Bancorp during the second quarter worth about $2,363,000. Goldman Sachs Group Inc. bought a new stake in shares of Farmers & Merchants Bancorp during the second quarter worth about $945,000. State Street Corp bought a new stake in shares of Farmers & Merchants Bancorp during the second quarter worth about $884,000. Bank of New York Mellon Corp bought a new stake in shares of Farmers & Merchants Bancorp during the second quarter worth about $791,000. Finally, TIAA CREF Investment Management LLC bought a new stake in shares of Farmers & Merchants Bancorp during the second quarter worth about $743,000. 7.77% of the stock is owned by institutional investors.

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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