Farmers & Merchants Bancorp Inc. (FMAO) Upgraded 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 released on Tuesday morning. Zacks Investment Research currently has $65.00 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 raised Farmers & Merchants Bancorp from a hold rating to a buy rating in a research note on Friday, June 2nd.
Farmers & Merchants Bancorp (NASDAQ FMAO) traded up 0.48% during midday trading on Tuesday, hitting $58.90. 1,659 shares of the stock traded hands. The firm has a market cap of $269.59 million, a PE ratio of 22.17 and a beta of 0.06. The company’s 50 day moving average price is $57.99 and its 200 day moving average price is $47.18. Farmers & Merchants Bancorp has a 12 month low of $29.51 and a 12 month high of $64.73.
Farmers & Merchants Bancorp (NASDAQ:FMAO) last announced its earnings results on Wednesday, July 19th. The financial services provider reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.06. The business had revenue of $11.64 million during the quarter, compared to the consensus estimate of $11.49 million. Farmers & Merchants Bancorp had a return on equity of 9.60% and a net margin of 24.37%. Equities research analysts predict that Farmers & Merchants Bancorp will post $2.70 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Stockholders of record on Monday, June 26th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.70%. This is an increase from Farmers & Merchants Bancorp’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, June 22nd. Farmers & Merchants Bancorp’s dividend payout ratio is presently 37.74%.
In other Farmers & Merchants Bancorp news, Director K. Brad Stamm bought 500 shares of Farmers & Merchants Bancorp stock in a transaction dated Wednesday, May 17th. The stock was acquired at an average cost of $60.00 per share, with a total value of $30,000.00. Following the purchase, the director now directly owns 81,593 shares in the company, valued at approximately $4,895,580. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven Everhart sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $54.00, for a total value of $54,000.00. Following the transaction, 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. Over the last ninety days, insiders have sold 4,871 shares of company stock valued at $268,983. Corporate insiders own 5.03% of the company’s stock.
An institutional investor recently bought a new position in Farmers & Merchants Bancorp stock. Tufton Capital Management acquired a new stake in shares of Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,365 shares of the financial services provider’s stock, valued at approximately $457,000. Tufton Capital Management owned approximately 0.16% of Farmers & Merchants Bancorp at the end of the most recent reporting period. 0.02% of the stock is owned by institutional investors and hedge funds.
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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