Farmers & Merchants Bancorp (NASDAQ:FMAO) Upgraded at Zacks Investment Research

Farmers & Merchants Bancorp (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 Monday, Zacks.com reports. The firm presently has a $26.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 7.35% 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. “

Shares of Farmers & Merchants Bancorp stock traded up $0.72 on Monday, hitting $24.22. 6,497 shares of the company were exchanged, compared to its average volume of 10,195. The stock has a market capitalization of $271.17 million, a price-to-earnings ratio of 14.86 and a beta of 0.30. The company has a 50-day moving average price of $24.86 and a 200 day moving average price of $23.60. Farmers & Merchants Bancorp has a 1-year low of $18.61 and a 1-year high of $27.58. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.07.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last released its quarterly earnings data on Tuesday, April 20th. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). Farmers & Merchants Bancorp had a net margin of 21.65% and a return on equity of 7.76%. Research analysts forecast that Farmers & Merchants Bancorp will post 1.57 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its position in Farmers & Merchants Bancorp by 7.3% in the fourth quarter. BlackRock Inc. now owns 597,202 shares of the financial services provider’s stock valued at $13,736,000 after purchasing an additional 40,695 shares during the period. F3Logic LLC raised its position in Farmers & Merchants Bancorp by 1.0% in the fourth quarter. F3Logic LLC now owns 85,965 shares of the financial services provider’s stock valued at $1,980,000 after purchasing an additional 855 shares during the period. Dimensional Fund Advisors LP raised its position in Farmers & Merchants Bancorp by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 50,071 shares of the financial services provider’s stock valued at $1,152,000 after purchasing an additional 1,910 shares during the period. JPMorgan Chase & Co. increased its position in shares of Farmers & Merchants Bancorp by 207.7% during the fourth quarter. JPMorgan Chase & Co. now owns 30,463 shares of the financial services provider’s stock worth $701,000 after acquiring an additional 20,563 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of Farmers & Merchants Bancorp by 4.1% during the fourth quarter. Wells Fargo & Company MN now owns 25,289 shares of the financial services provider’s stock worth $581,000 after acquiring an additional 985 shares during the period. 18.93% of the stock is currently owned by institutional investors.

Farmers & Merchants Bancorp Company Profile

Farmers & Merchants Bancorp, Inc operates as the bank holding company for The Farmers & Merchants State Bank that provides commercial banking services to individuals and small businesses in northwest Ohio and northeast Indiana. The company offers checking account services, as well as savings and time deposit services, such as certificates of deposit; and custodial services for individual retirement and health savings accounts.

Featured Story: Relative Strength Index

Get a free copy of the Zacks research report on Farmers & Merchants Bancorp (FMAO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Farmers & Merchants Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Farmers & Merchants Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.