Zacks Investment Research upgraded shares of Farmers & Merchants Bancorp, Inc. (OH) (NASDAQ:FMAO) from a strong sell rating to a hold rating in a research note published on Tuesday morning, Zacks.com reports.

According to Zacks, “Farmers & Merchants Bancorp, Inc. is the holding company for The Farmers & Merchants State Bank which operates as a locally owned and operated community bank serving Northwest Ohio and Northeast Indiana. The bank provides commercial banking, retail banking and other financial services through its 19 offices with locations in Fulton, Defiance, Henry, Williams, and Wood counties in Northwest Ohio. In Northeast Indiana they have offices located in DeKalb and Steuben counties. Farmers & Merchants Bancorp, Inc. is based in Archbold, Ohio. “

A number of other analysts have also commented on the company. ValuEngine lowered Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Boenning Scattergood reiterated a neutral rating on shares of Farmers & Merchants Bancorp, Inc. (OH) in a research report on Monday, May 6th.

Shares of FMAO stock opened at $29.00 on Tuesday. The stock has a 50-day moving average price of $28.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $323.55 million, a price-to-earnings ratio of 17.26 and a beta of 0.20. Farmers & Merchants Bancorp, Inc. has a 12 month low of $26.68 and a 12 month high of $48.60.

Farmers & Merchants Bancorp, Inc. (OH) (NASDAQ:FMAO) last announced its quarterly earnings data on Friday, April 26th. The financial services provider reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.08). The firm had revenue of $15.47 million during the quarter, compared to analyst estimates of $15.90 million. Farmers & Merchants Bancorp, Inc. (OH) had a return on equity of 10.16% and a net margin of 23.20%. On average, analysts expect that Farmers & Merchants Bancorp, Inc. will post 1.72 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, July 20th. Shareholders of record on Monday, June 17th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, June 14th. Farmers & Merchants Bancorp, Inc. (OH)’s dividend payout ratio (DPR) is currently 35.71%.

A number of institutional investors and hedge funds have recently modified their holdings of FMAO. Rhumbline Advisers boosted its holdings in Farmers & Merchants Bancorp, Inc. (OH) by 47.9% during the fourth quarter. Rhumbline Advisers now owns 12,116 shares of the financial services provider’s stock worth $466,000 after buying an additional 3,925 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Farmers & Merchants Bancorp, Inc. (OH) by 11.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 23,490 shares of the financial services provider’s stock valued at $904,000 after purchasing an additional 2,451 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Farmers & Merchants Bancorp, Inc. (OH) by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 87,938 shares of the financial services provider’s stock valued at $3,384,000 after purchasing an additional 5,111 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Farmers & Merchants Bancorp, Inc. (OH) by 82.7% during the 4th quarter. Bank of America Corp DE now owns 5,069 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 2,295 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in shares of Farmers & Merchants Bancorp, Inc. (OH) by 259.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,255 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 2,350 shares in the last quarter. Hedge funds and other institutional investors own 15.82% of the company’s stock.

About Farmers & Merchants Bancorp, Inc. (OH)

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

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