Farmers & Merchants Bancorp (FMAO) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Farmers & Merchants Bancorp (NASDAQ:FMAO) from a hold rating to a buy rating in a research report sent to investors on Thursday morning. Zacks Investment Research currently has $49.00 price target 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. “

Several other brokerages have also recently commented on FMAO. ValuEngine cut shares of Farmers & Merchants Bancorp from a buy rating to a hold rating in a report on Saturday, October 21st. Boenning Scattergood reaffirmed a hold rating on shares of Farmers & Merchants Bancorp in a report on Thursday, October 19th.

Shares of Farmers & Merchants Bancorp (NASDAQ:FMAO) traded down $0.18 on Thursday, hitting $43.48. 12,100 shares of the stock traded hands, compared to its average volume of 20,692. Farmers & Merchants Bancorp has a 12 month low of $17.38 and a 12 month high of $44.00. The company has a market capitalization of $404.58, a PE ratio of 32.34 and a beta of 0.08. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.92 and a quick ratio of 0.92.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $0.35 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. Farmers & Merchants Bancorp had a net margin of 24.46% and a return on equity of 9.65%. The company had revenue of $11.84 million for the quarter, compared to analysts’ expectations of $11.85 million. sell-side analysts forecast that Farmers & Merchants Bancorp will post 1.35 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 20th. Stockholders of record on Tuesday, December 26th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, December 22nd. This represents a $0.52 annualized dividend and a dividend yield of 1.20%. Farmers & Merchants Bancorp’s dividend payout ratio is presently 38.52%.

In related news, insider Todd A. Graham sold 2,800 shares of Farmers & Merchants Bancorp stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $36.94, for a total value of $103,432.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven Everhart sold 1,256 shares of Farmers & Merchants Bancorp stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $39.00, for a total transaction of $48,984.00. The disclosure for this sale can be found here. Company insiders own 5.03% of the company’s stock.

A number of large investors have recently made changes to their positions in FMAO. Northern Trust Corp bought a new position in Farmers & Merchants Bancorp in the second quarter valued at approximately $2,363,000. Bank of New York Mellon Corp increased its stake in Farmers & Merchants Bancorp by 161.4% in the third quarter. Bank of New York Mellon Corp now owns 33,334 shares of the financial services provider’s stock valued at $1,215,000 after acquiring an additional 20,580 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in Farmers & Merchants Bancorp in the second quarter valued at approximately $945,000. State Street Corp bought a new position in Farmers & Merchants Bancorp in the second quarter valued at approximately $884,000. Finally, TIAA CREF Investment Management LLC bought a new position in Farmers & Merchants Bancorp in the second quarter valued at approximately $743,000. 13.57% of the stock is currently owned by institutional investors and hedge funds.

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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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