Farmers & Merchants Bancorp (NASDAQ:FMAO – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.
FMAO has been the subject of a number of other research reports. Weiss Ratings upgraded shares of Farmers & Merchants Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. 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. Finally, Zacks Research raised 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 company’s stock. According to MarketBeat.com, Farmers & Merchants Bancorp currently has an average rating of “Moderate Buy” and an average target price of $32.25.
Check Out Our Latest Analysis on FMAO
Farmers & Merchants Bancorp Price Performance
Farmers & Merchants Bancorp (NASDAQ:FMAO – Get Free Report) last announced its quarterly 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 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%. Equities research analysts anticipate that Farmers & Merchants Bancorp will post 3.05 EPS for the current fiscal year.
Insider Buying and Selling
In other Farmers & Merchants Bancorp news, Director Andrew Briggs sold 2,402 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $35.05, for a total value of $84,190.10. Following the transaction, the director directly owned 49,148 shares in the company, valued at approximately $1,722,637.40. This trade represents a 4.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David R. Gerken sold 1,000 shares of Farmers & Merchants Bancorp stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $33.72, for a total value of $33,720.00. Following the completion of the sale, the executive vice president directly owned 6,509 shares of the company’s stock, valued at $219,483.48. This trade represents a 13.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 73,227 shares of company stock valued at $2,303,152. 7.30% of the stock is currently owned by company insiders.
Institutional Trading of Farmers & Merchants Bancorp
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its holdings in Farmers & Merchants Bancorp by 692.3% during the 2nd quarter. California State Teachers Retirement System now owns 5,443 shares of the financial services provider’s stock worth $178,000 after purchasing an additional 4,756 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Farmers & Merchants Bancorp in the 2nd quarter valued at about $230,000. Empowered Funds LLC bought a new position in shares of Farmers & Merchants Bancorp in the 2nd quarter valued at about $907,000. Bank of America Corp DE acquired a new stake in shares of Farmers & Merchants Bancorp during the 2nd quarter worth approximately $439,000. Finally, Man Group plc acquired a new stake in shares of Farmers & Merchants Bancorp during the 2nd quarter worth approximately $535,000. 23.96% of the stock is owned by institutional investors.
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.
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