Farmers & Merchants Bancorp (NASDAQ:FMAO) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Farmers & Merchants Bancorp (NASDAQ:FMAO) from a buy rating to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.

Several other equities research analysts have also weighed in on FMAO. Piper Sandler restated a “neutral” rating and set a $36.00 price target (up from $32.00) on shares of Farmers & Merchants Bancorp in a research report on Wednesday, July 29th. Weiss Ratings upgraded Farmers & Merchants Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Finally, Zacks Research upgraded shares of Farmers & Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Farmers & Merchants Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.25.

Farmers & Merchants Bancorp Stock Performance

Farmers & Merchants Bancorp stock opened at $35.27 on Friday. The firm has a market cap of $485.67 million, a P/E ratio of 12.12 and a beta of 0.80. Farmers & Merchants Bancorp has a 1-year low of $22.77 and a 1-year high of $35.94. The firm has a 50-day moving average of $32.85 and a 200-day moving average of $29.05. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.44.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last posted its earnings results on Monday, July 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.19. The firm had revenue of $34.35 million for the quarter, compared to analysts’ expectations of $33.05 million. Farmers & Merchants Bancorp had a return on equity of 10.72% and a net margin of 20.27%. Sell-side analysts expect that Farmers & Merchants Bancorp will post 3.05 EPS for the current year.

Farmers & Merchants Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Friday, July 10th were given a dividend of $0.23 per share. The ex-dividend date was Friday, July 10th. This represents a $0.92 annualized dividend and a yield of 2.6%. Farmers & Merchants Bancorp’s payout ratio is 31.62%.

Insider Activity

In related news, Director Andrew J. Briggs sold 6,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $28.72, for a total value of $172,320.00. Following the completion of the sale, the director directly owned 168,550 shares of the company’s stock, valued at approximately $4,840,756. This represents a 3.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 73,227 shares of company stock worth $2,303,152. Insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Farmers & Merchants Bancorp

Institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc grew its position in shares of Farmers & Merchants Bancorp by 72.2% during the second quarter. Versant Capital Management Inc now owns 813 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 341 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Farmers & Merchants Bancorp by 124.6% during the 4th quarter. Royal Bank of Canada now owns 1,159 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 643 shares during the last quarter. CANADA LIFE ASSURANCE Co purchased a new position in shares of Farmers & Merchants Bancorp in the fourth quarter valued at $34,000. Legal & General Group Plc purchased a new position in shares of Farmers & Merchants Bancorp in the 2nd quarter worth $40,000. Finally, BNP Paribas Financial Markets grew its position in Farmers & Merchants Bancorp by 36.0% in the second quarter. BNP Paribas Financial Markets now owns 1,924 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 509 shares in the last quarter. Hedge funds and other institutional investors own 23.96% of the company’s stock.

About Farmers & Merchants Bancorp

Farmers & Merchants Bancorp (NASDAQ:FMAO) is the bank holding company for Farmers & Merchants Bank of Central California, a community-focused institution headquartered in Los Banos, California. The bank traces its roots to 1916 and has grown to serve individuals, businesses and agricultural enterprises throughout the western San Joaquin Valley. Operating with a commitment to local decision-making, the company emphasizes personalized service and close ties to the communities in which it operates.

Through its banking subsidiary, Farmers & Merchants offers a comprehensive suite of financial products and services, including checking and savings accounts, certificates of deposit, online and mobile banking platforms, and merchant services.