Farmers & Merchants Bancorp (NASDAQ:FMAO) Raised to Buy at Wall Street Zen

Farmers & Merchants Bancorp (NASDAQ:FMAO) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other research firms also recently issued reports on FMAO. Hovde Group dropped their price target on Farmers & Merchants Bancorp from $30.00 to $28.50 and set a “market perform” rating on the stock in a research note on Friday, April 24th. Zacks Research upgraded Farmers & Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Piper Sandler reissued a “neutral” rating and issued a $36.00 target price (up from $32.00) on shares of Farmers & Merchants Bancorp in a report on Wednesday. Finally, Weiss Ratings raised Farmers & Merchants Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.25.

Farmers & Merchants Bancorp Stock Performance

Shares of FMAO stock opened at $33.36 on Friday. Farmers & Merchants Bancorp has a 12-month low of $22.77 and a 12-month high of $35.94. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average is $29.77 and its 200 day moving average is $27.67. The stock has a market capitalization of $459.37 million, a P/E ratio of 11.46 and a beta of 0.80.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last posted its earnings results on Monday, July 27th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.19. The business had revenue of $34.35 million during the quarter, compared to the consensus estimate of $33.05 million. Farmers & Merchants Bancorp had a net margin of 20.27% and a return on equity of 10.72%. Research analysts expect that Farmers & Merchants Bancorp will post 2.94 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Andrew J. Briggs sold 3,000 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $34.86, for a total value of $104,580.00. Following the transaction, the director owned 87,550 shares of the company’s stock, valued at $3,051,993. This trade represents a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 75,825 shares of company stock valued at $2,196,192 in the last three months. Corporate insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Farmers & Merchants Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in 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 valued at $25,000 after purchasing an additional 341 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Farmers & Merchants Bancorp by 124.6% in the fourth quarter. Royal Bank of Canada now owns 1,159 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 643 shares in the last quarter. CANADA LIFE ASSURANCE Co purchased a new stake in shares of Farmers & Merchants Bancorp in the fourth quarter worth $34,000. BNP Paribas Financial Markets increased its stake in shares of 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 purchasing an additional 509 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Farmers & Merchants Bancorp by 948.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,436 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 4,013 shares during the period. 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.