Piper Sandler Begins Coverage on Farmers & Merchants Bancorp (NASDAQ:FMAO)

Research analysts at Piper Sandler began coverage on shares of Farmers & Merchants Bancorp (NASDAQ:FMAO) in a note issued to investors on Thursday, Marketbeat reports. The firm set a “neutral” rating and a $28.00 price target on the financial services provider’s stock. Piper Sandler’s price objective points to a potential upside of 8.19% from the company’s current price.

FMAO has been the topic of a number of other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Farmers & Merchants Bancorp in a report on Monday, December 29th. Zacks Research lowered Farmers & Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $28.00.

Farmers & Merchants Bancorp Price Performance

Shares of FMAO opened at $25.88 on Thursday. The business’s fifty day moving average is $26.39 and its 200 day moving average is $25.55. Farmers & Merchants Bancorp has a 12-month low of $20.88 and a 12-month high of $29.83. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71. The stock has a market cap of $376.81 million, a P/E ratio of 10.69 and a beta of 0.81.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last released its quarterly earnings data on Thursday, February 12th. The financial services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.04. Farmers & Merchants Bancorp had a net margin of 17.47% and a return on equity of 9.33%. The firm had revenue of $32.45 million for the quarter, compared to the consensus estimate of $27.30 million. Sell-side analysts anticipate that Farmers & Merchants Bancorp will post 1.82 earnings per share for the current fiscal year.

Insider Transactions at Farmers & Merchants Bancorp

In other Farmers & Merchants Bancorp news, insider Eric D. Faust sold 1,148 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $25.16, for a total value of $28,883.68. Following the completion of the sale, the insider directly owned 5,538 shares of the company’s stock, valued at approximately $139,336.08. This represents a 17.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Farmers & Merchants Bancorp

Institutional investors have recently modified their holdings of the business. Jane Street Group LLC bought a new stake in Farmers & Merchants Bancorp during the first quarter worth $380,000. Geode Capital Management LLC grew its stake in Farmers & Merchants Bancorp by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 299,470 shares of the financial services provider’s stock valued at $7,572,000 after purchasing an additional 4,527 shares during the period. Franklin Resources Inc. bought a new position in Farmers & Merchants Bancorp in the 2nd quarter valued at $210,000. Bridgeway Capital Management LLC increased its position in shares of Farmers & Merchants Bancorp by 2.1% during the 2nd quarter. Bridgeway Capital Management LLC now owns 19,257 shares of the financial services provider’s stock valued at $487,000 after purchasing an additional 401 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Farmers & Merchants Bancorp by 36.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,924 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 509 shares during the last quarter. 23.96% of the stock is owned by institutional investors.

Farmers & Merchants Bancorp Company Profile

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.