Farmers & Merchants Bancorp (NASDAQ:FMAO) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Farmers & Merchants Bancorp (NASDAQ:FMAO) from a buy rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

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. “

A number of other analysts have also recently weighed in on the stock. Boenning Scattergood initiated coverage on shares of Farmers & Merchants Bancorp in a report on Thursday, September 24th. They set a neutral rating on the stock. ValuEngine upgraded Farmers & Merchants Bancorp from a strong sell rating to a sell rating in a research report on Tuesday, December 1st. Stephens initiated coverage on Farmers & Merchants Bancorp in a research report on Friday, October 9th. They issued an equal weight rating and a $22.50 target price on the stock. Finally, Piper Sandler cut their target price on Farmers & Merchants Bancorp from $23.50 to $21.50 and set a neutral rating on the stock in a research note on Tuesday, September 29th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Farmers & Merchants Bancorp has a consensus rating of Hold and a consensus target price of $24.00.

NASDAQ:FMAO opened at $25.00 on Wednesday. The firm’s fifty day simple moving average is $23.40 and its 200 day simple moving average is $21.77. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.07. Farmers & Merchants Bancorp has a twelve month low of $17.40 and a twelve month high of $30.85. The firm has a market capitalization of $278.98 million, a price-to-earnings ratio of 15.34 and a beta of 0.30.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last issued its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.02). Farmers & Merchants Bancorp had a return on equity of 7.69% and a net margin of 21.65%. The company had revenue of $19.74 million for the quarter, compared to analyst estimates of $18.10 million. On average, analysts predict that Farmers & Merchants Bancorp will post 1.57 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 20th. Stockholders of record on Tuesday, December 29th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, December 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.72%. Farmers & Merchants Bancorp’s dividend payout ratio (DPR) is presently 40.00%.

Hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC bought a new stake in Farmers & Merchants Bancorp during the 2nd quarter valued at $37,000. BNP Paribas Arbitrage SA increased its holdings in shares of Farmers & Merchants Bancorp by 332.3% during the third quarter. BNP Paribas Arbitrage SA now owns 2,434 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 1,871 shares during the period. Advisor Group Holdings Inc. raised its stake in shares of Farmers & Merchants Bancorp by 47.9% during the second quarter. Advisor Group Holdings Inc. now owns 3,046 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 987 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Farmers & Merchants Bancorp by 27.9% during the second quarter. Bank of America Corp DE now owns 7,124 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 1,555 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Farmers & Merchants Bancorp by 4.9% in the third quarter. JPMorgan Chase & Co. now owns 9,900 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 459 shares during the period. 17.93% of the stock is owned by institutional investors and hedge funds.

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, retail banking, and other financial products and 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 deposits; and custodial services for individual retirement and health savings accounts.

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