Zacks Research Upgrades Farmers & Merchants Bancorp (NASDAQ:FMAO) to Strong-Buy

Farmers & Merchants Bancorp (NASDAQ:FMAO) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks reports.

Other equities analysts have also issued research reports about the company. Piper Sandler restated a “neutral” rating and issued a $39.00 target price (up from $36.00) on shares of Farmers & Merchants Bancorp in a research note on Monday. Weiss Ratings downgraded Farmers & Merchants Bancorp from a “buy (b)” rating to a “hold (c)” rating in a research note on Wednesday. Finally, Wall Street Zen lowered Farmers & Merchants Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $33.75.

Farmers & Merchants Bancorp Stock Up 1.5%

Shares of NASDAQ FMAO opened at $37.11 on Wednesday. Farmers & Merchants Bancorp has a 12-month low of $22.91 and a 12-month high of $37.60. The stock’s fifty day simple moving average is $35.11 and its two-hundred day simple moving average is $29.96. The stock has a market capitalization of $511.12 million, a PE ratio of 11.93 and a beta of 0.81. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.43.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last posted its earnings results on Thursday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.04. The company had revenue of $34.81 million during the quarter, compared to analysts’ expectations of $34.65 million. Farmers & Merchants Bancorp had a net margin of 21.30% and a return on equity of 11.25%. As a group, analysts expect that Farmers & Merchants Bancorp will post 3.20 EPS for the current fiscal year.

Insider Activity at Farmers & Merchants Bancorp

In related news, EVP David Gerken sold 1,000 shares of Farmers & Merchants Bancorp stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $33.72, for a total value of $33,720.00. Following the sale, the executive vice president owned 6,509 shares of the company’s stock, valued at approximately $219,483.48. This trade represents a 13.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew J. Briggs sold 3,000 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $35.11, for a total transaction of $105,330.00. Following the transaction, the director directly owned 51,550 shares in the company, valued at approximately $1,809,920.50. The trade was a 5.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 24,402 shares of company stock valued at $845,410. Corporate insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Farmers & Merchants Bancorp

Several large investors have recently bought and sold shares of the company. Versant Capital Management Inc boosted its position in Farmers & Merchants Bancorp by 72.2% during the second quarter. Versant Capital Management Inc now owns 813 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 341 shares during the last quarter. GAMMA Investing LLC raised its holdings in Farmers & Merchants Bancorp by 25.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,436 shares of the financial services provider’s stock valued at $84,000 after acquiring an additional 501 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Farmers & Merchants Bancorp by 126.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 956 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 533 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Farmers & Merchants Bancorp by 11.5% in the 1st quarter. Hsbc Holdings PLC now owns 10,582 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 1,089 shares in the last quarter. Finally, Legal & General Group Plc purchased a new position in Farmers & Merchants Bancorp in the 2nd quarter worth approximately $40,000. 23.96% of the stock is currently owned by hedge funds and other institutional investors.

About Farmers & Merchants Bancorp

Farmers & Merchants Bancorp, Inc is a bank holding company headquartered in Archbold, Ohio. Founded in 1897, the company operates through its principal subsidiary, The Farmers & Merchants State Bank, a community bank serving individuals, families, farmers and businesses.

The bank offers a range of traditional financial services, including checking and savings accounts, certificates of deposit, consumer and residential mortgage loans, commercial lending, agricultural loans and other business banking products.