Carnegie Investment Counsel Sells 6,089 Shares of Farmers & Merchants Bancorp Inc. $FMAO

Carnegie Investment Counsel decreased its holdings in Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO) by 39.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,541 shares of the financial services provider’s stock after selling 6,089 shares during the period. Carnegie Investment Counsel owned 0.07% of Farmers & Merchants Bancorp worth $241,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Inspire Investing LLC lifted its holdings in shares of Farmers & Merchants Bancorp by 6.2% in the 2nd quarter. Inspire Investing LLC now owns 15,229 shares of the financial services provider’s stock valued at $385,000 after acquiring an additional 885 shares during the last quarter. Revisor Wealth Management LLC bought a new position in shares of Farmers & Merchants Bancorp in the 1st quarter valued at about $278,000. Trust Co. of Toledo NA OH bought a new position in shares of Farmers & Merchants Bancorp in the 2nd quarter valued at about $201,000. Nuveen LLC bought a new stake in Farmers & Merchants Bancorp in the first quarter worth about $817,000. Finally, Ancora Advisors LLC bought a new stake in Farmers & Merchants Bancorp in the first quarter worth about $909,000. Institutional investors own 23.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Farmers & Merchants Bancorp in a research note on Wednesday, October 8th. Zacks Research downgraded shares of Farmers & Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Farmers & Merchants Bancorp Stock Performance

Farmers & Merchants Bancorp stock opened at $24.57 on Monday. The company has a 50 day moving average price of $25.46 and a 200-day moving average price of $24.94. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 0.96. Farmers & Merchants Bancorp Inc. has a fifty-two week low of $20.88 and a fifty-two week high of $34.15. The company has a market capitalization of $337.10 million, a PE ratio of 11.38 and a beta of 0.88.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last posted its quarterly earnings results on Monday, July 28th. The financial services provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.05. Farmers & Merchants Bancorp had a net margin of 16.04% and a return on equity of 8.66%. The firm had revenue of $29.65 million during the quarter, compared to the consensus estimate of $28.67 million. As a group, equities analysts forecast that Farmers & Merchants Bancorp Inc. will post 1.82 earnings per share for the current year.

Farmers & Merchants Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 10th were paid a dividend of $0.2275 per share. This is a boost from Farmers & Merchants Bancorp’s previous quarterly dividend of $0.22. This represents a $0.91 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, October 10th. Farmers & Merchants Bancorp’s payout ratio is presently 42.13%.

Farmers & Merchants Bancorp Profile

Farmers & Merchants Bancorp, Inc is a bank holding company, which engages in the provision of commercial banking, retail banking, and financial services. It includes commercial, agricultural, and residential mortgages as well as consumer and credit card lending activities. The firm also offers checking account services, and savings and time deposit services.