Farmers & Merchants Bancorp (NASDAQ:FMAO) Price Target Raised to $26.00 at Piper Sandler

Farmers & Merchants Bancorp (NASDAQ:FMAO) had its price objective raised by Piper Sandler from $24.00 to $26.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Farmers & Merchants Bancorp Stock Performance

FMAO stock opened at $24.32 on Monday. Farmers & Merchants Bancorp has a 1-year low of $16.90 and a 1-year high of $28.75. The business has a 50-day moving average price of $23.51 and a 200 day moving average price of $22.16. The company has a market capitalization of $332.75 million, a P/E ratio of 15.30 and a beta of 0.64. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.00 and a quick ratio of 1.00.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.37 by $0.05. Farmers & Merchants Bancorp had a net margin of 12.59% and a return on equity of 6.84%. The business had revenue of $44.83 million during the quarter, compared to analyst estimates of $24.39 million. As a group, equities research analysts forecast that Farmers & Merchants Bancorp will post 1.57 EPS for the current fiscal year.

Farmers & Merchants Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, July 20th. Shareholders of record on Friday, July 5th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $0.88 annualized dividend and a yield of 3.62%. Farmers & Merchants Bancorp’s dividend payout ratio (DPR) is presently 55.35%.

Hedge Funds Weigh In On Farmers & Merchants Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in shares of Farmers & Merchants Bancorp during the 4th quarter worth approximately $172,000. Tufton Capital Management acquired a new position in shares of Farmers & Merchants Bancorp during the fourth quarter worth $242,000. Buckingham Capital Management Inc. purchased a new stake in shares of Farmers & Merchants Bancorp during the 4th quarter valued at $202,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new stake in shares of Farmers & Merchants Bancorp in the 1st quarter worth $41,525,000. Finally, Revisor Wealth Management LLC purchased a new position in Farmers & Merchants Bancorp during the 1st quarter worth $547,000. Hedge funds and other institutional investors own 23.96% of the company’s stock.

Farmers & Merchants Bancorp Company Profile

Farmers & Merchants Bancorp, Inc operates as the bank holding company for The Farmers & Merchants State Bank that provides commercial banking services to individuals and small businesses in Northwest Ohio and Northeast Indiana. The company offers checking, savings, and time deposit accounts; certificates of deposit; and custodial services for individual retirement and health savings accounts.