Farmers & Merchants Bancorp (NASDAQ:FMAO) Shares Pass Below 200 Day Moving Average of $28.76

Shares of Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO – Get Rating) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $28.76 and traded as low as $27.89. Farmers & Merchants Bancorp shares last traded at $28.09, with a volume of 20,857 shares.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FMAO. Janney Montgomery Scott began coverage on shares of Farmers & Merchants Bancorp in a research report on Wednesday, December 21st. They set a “neutral” rating and a $30.00 target price on the stock. Stephens lowered their price target on shares of Farmers & Merchants Bancorp from $32.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, October 24th. Finally, Piper Sandler raised shares of Farmers & Merchants Bancorp from an “underweight” rating to a “neutral” rating and set a $27.00 price target on the stock in a report on Friday, October 21st.

Farmers & Merchants Bancorp Price Performance

The stock has a market cap of $382.22 million, a P/E ratio of 11.15 and a beta of 0.38. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60. The company’s fifty day simple moving average is $27.95 and its 200-day simple moving average is $28.76.

Farmers & Merchants Bancorp (NASDAQ:FMAO – Get Rating) last announced its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.68. Farmers & Merchants Bancorp had a net margin of 30.01% and a return on equity of 11.87%. The firm had revenue of $26.32 million for the quarter, compared to analyst estimates of $26.50 million. As a group, sell-side analysts forecast that Farmers & Merchants Bancorp, Inc. will post 2.62 EPS for the current year.

Farmers & Merchants Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 20th. Stockholders of record on Friday, December 30th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend was Thursday, December 29th. Farmers & Merchants Bancorp’s payout ratio is 33.33%.

Institutional Investors Weigh In On Farmers & Merchants Bancorp

Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in shares of Farmers & Merchants Bancorp by 11.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 61,809 shares of the financial services provider’s stock worth $1,662,000 after purchasing an additional 6,161 shares during the last quarter. State Street Corp grew its holdings in shares of Farmers & Merchants Bancorp by 28.2% in the 3rd quarter. State Street Corp now owns 178,584 shares of the financial services provider’s stock worth $4,836,000 after purchasing an additional 39,277 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Farmers & Merchants Bancorp in the 3rd quarter worth about $240,000. Vanguard Group Inc. lifted its position in Farmers & Merchants Bancorp by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 566,349 shares of the financial services provider’s stock worth $15,218,000 after buying an additional 10,105 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Farmers & Merchants Bancorp during the 3rd quarter worth about $410,000. Institutional investors own 22.38% of the company’s stock.

About Farmers & Merchants Bancorp

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