Representative Robert E. Latta (Republican-Ohio) recently bought shares of Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO). In a filing disclosed on November 3rd, the Representative disclosed that they had bought between $1,001 and $15,000 in Farmers & Merchants Bancorp stock on October 20th.
Farmers & Merchants Bancorp Stock Performance
Shares of FMAO opened at $37.48 on Thursday. The firm has a market capitalization of $515.76 million, a P/E ratio of 12.05 and a beta of 0.76. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.96 and a quick ratio of 0.96. Farmers & Merchants Bancorp Inc. has a one year low of $22.91 and a one year high of $37.71. The business has a fifty day moving average of $35.34 and a 200 day moving average of $30.20.
Farmers & Merchants Bancorp (NASDAQ:FMAO – Get Free Report) last posted its earnings results on Thursday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.04. The company had revenue of $34.81 million for the quarter, compared to the consensus estimate of $34.65 million. Farmers & Merchants Bancorp had a return on equity of 11.25% and a net margin of 21.30%. As a group, sell-side analysts anticipate that Farmers & Merchants Bancorp Inc. will post 3.22 EPS for the current year.
Farmers & Merchants Bancorp Announces Dividend
The company also recently disclosed a special dividend, which was paid on Tuesday, October 20th. Investors of record on Friday, October 9th were issued a $0.01 dividend. The ex-dividend date of this dividend was Friday, October 9th. Farmers & Merchants Bancorp’s payout ratio is presently 30.87%.
Institutional Investors Weigh In On Farmers & Merchants Bancorp
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company bought a new stake in shares of Farmers & Merchants Bancorp during the 2nd quarter valued at $8,843,000. BlackRock Inc. purchased a new position in shares of Farmers & Merchants Bancorp during the 2nd quarter valued at $33,241,000. Bank of New York Mellon Corp bought a new position in Farmers & Merchants Bancorp in the 2nd quarter worth $1,524,000. Empowered Funds LLC bought a new position in Farmers & Merchants Bancorp in the 2nd quarter worth $907,000. Finally, Bank of America Corp DE purchased a new stake in Farmers & Merchants Bancorp in the 2nd quarter worth $439,000. Institutional investors own 23.96% of the company’s stock.
Insider Buying and Selling at Farmers & Merchants Bancorp
In related news, Director Andrew J. Briggs sold 3,000 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $35.11, for a total transaction of $105,330.00. Following the completion of the sale, the director owned 51,550 shares in the company, valued at approximately $1,809,920.50. This trade represents a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 17,402 shares of company stock valued at $606,340 over the last three months. Corporate insiders own 7.30% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently issued reports on FMAO. Wall Street Zen lowered shares of Farmers & Merchants Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, September 5th. Piper Sandler reaffirmed a “neutral” rating and issued a $39.00 target price (up from $36.00) on shares of Farmers & Merchants Bancorp in a report on Monday, October 26th. Zacks Research upgraded Farmers & Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 28th. Finally, Weiss Ratings lowered Farmers & Merchants Bancorp from a “buy (b)” rating to a “hold (c)” rating in a report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Farmers & Merchants Bancorp has a consensus rating of “Moderate Buy” and an average target price of $33.75.
View Our Latest Report on Farmers & Merchants Bancorp
About Representative Latta
Bob Latta (Republican Party) is a member of the U.S. House, representing Ohio’s 5th Congressional District. He assumed office on January 3, 2007. His current term ends on January 3, 2027.
Latta (Republican Party) ran for re-election to the U.S. House to represent Ohio’s 5th Congressional District. He won in the general election on November 5, 2024.
About Farmers & Merchants Bancorp
Farmers & Merchants Bancorp, Inc is a bank holding company headquartered in Archbold, Ohio. Founded in 1897, the company operates through its principal subsidiary, The Farmers & Merchants State Bank, a community bank serving individuals, families, farmers and businesses.
The bank offers a range of traditional financial services, including checking and savings accounts, certificates of deposit, consumer and residential mortgage loans, commercial lending, agricultural loans and other business banking products.
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