Farmers & Merchants Bancorp (FMAO) Rating Lowered to Hold at Zacks Investment Research

Farmers & Merchants Bancorp (NASDAQ:FMAO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

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 brokerages also recently commented on FMAO. ValuEngine upgraded Farmers & Merchants Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, September 22nd. Boenning Scattergood reiterated a “hold” rating on shares of Farmers & Merchants Bancorp in a research report on Thursday, October 19th.

Farmers & Merchants Bancorp (NASDAQ FMAO) opened at $43.66 on Tuesday. The company has a market capitalization of $403.10, a price-to-earnings ratio of 32.22 and a beta of 0.08. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.92 and a current ratio of 0.92. Farmers & Merchants Bancorp has a 52 week low of $17.36 and a 52 week high of $44.00.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.35 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.35. The firm had revenue of $11.84 million during the quarter, compared to the consensus estimate of $11.85 million. Farmers & Merchants Bancorp had a return on equity of 9.65% and a net margin of 24.46%. analysts anticipate that Farmers & Merchants Bancorp will post 1.35 earnings per share for the current year.

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

A number of hedge funds have recently made changes to their positions in the business. Northern Trust Corp acquired a new stake in shares of Farmers & Merchants Bancorp in the second quarter valued at $2,363,000. Bank of New York Mellon Corp lifted its holdings in shares of 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 buying an additional 20,580 shares during the period. Goldman Sachs Group Inc. acquired a new stake in shares of Farmers & Merchants Bancorp in the second quarter valued at $945,000. State Street Corp acquired a new stake in shares of Farmers & Merchants Bancorp in the second quarter valued at $884,000. Finally, TIAA CREF Investment Management LLC acquired a new stake in shares of Farmers & Merchants Bancorp in the second quarter valued at $743,000. Institutional investors own 13.57% of the company’s stock.

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About Farmers & Merchants Bancorp

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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