Zacks Investment Research Lowers Farmers & Merchants Bancorp (FMAO) to Hold
Zacks Investment Research cut shares of Farmers & Merchants Bancorp (NASDAQ:FMAO) 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 analysts have also recently issued reports on FMAO. Boenning Scattergood reiterated a hold rating on shares of Farmers & Merchants Bancorp in a research note on Thursday, October 19th. ValuEngine cut shares of Farmers & Merchants Bancorp from a buy rating to a hold rating in a research note on Saturday, October 21st.
Farmers & Merchants Bancorp (NASDAQ:FMAO) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.35. The firm had revenue of $11.84 million during the quarter, compared to analysts’ expectations of $11.85 million. Farmers & Merchants Bancorp had a net margin of 24.46% and a return on equity of 9.65%. equities research analysts forecast that Farmers & Merchants Bancorp will post 1.35 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 20th. Shareholders of record on Tuesday, December 26th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Friday, December 22nd. Farmers & Merchants Bancorp’s dividend payout ratio (DPR) is presently 38.52%.
In other news, insider Todd A. Graham sold 2,800 shares of the business’s stock in a transaction 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 Securities & Exchange Commission, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. 5.03% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of FMAO. Schwab Charles Investment Management Inc. acquired a new stake in shares of Farmers & Merchants Bancorp in the second quarter worth $472,000. Rhumbline Advisers acquired a new stake in shares of Farmers & Merchants Bancorp in the second quarter worth $296,000. Bank of New York Mellon Corp acquired a new stake in shares of Farmers & Merchants Bancorp in the second quarter worth $791,000. Teachers Advisors LLC acquired a new stake in shares of Farmers & Merchants Bancorp in the second quarter worth $498,000. Finally, TIAA CREF Investment Management LLC acquired a new stake in shares of Farmers & Merchants Bancorp in the second quarter worth $743,000. Institutional investors and hedge funds 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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