Representative Robert E. Latta (R-Ohio) recently bought shares of Farmers & Merchants Bancorp, Inc. NASDAQ: FMAO. In a filing disclosed on November 07th, the Representative disclosed that they had bought between $1,001 and $15,000 in Farmers & Merchants Bancorp stock on October 20th.
Farmers & Merchants Bancorp Trading Up 4.2 %
Shares of NASDAQ:FMAO traded up $1.28 during midday trading on Friday, reaching $32.09. 27,796 shares of the company's stock were exchanged, compared to its average volume of 24,279. The stock has a market cap of $439.60 million, a price-to-earnings ratio of 18.88 and a beta of 0.63. Farmers & Merchants Bancorp, Inc. has a fifty-two week low of $17.29 and a fifty-two week high of $32.84. The firm's 50 day simple moving average is $27.36 and its two-hundred day simple moving average is $24.80. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.00 and a quick ratio of 1.00.
Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.08. The business had revenue of $45.86 million for the quarter, compared to the consensus estimate of $24.93 million. Farmers & Merchants Bancorp had a net margin of 13.16% and a return on equity of 7.25%. As a group, sell-side analysts forecast that Farmers & Merchants Bancorp, Inc. will post 1.7 EPS for the current fiscal year.
Farmers & Merchants Bancorp Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Sunday, October 20th. Stockholders of record on Friday, October 4th were paid a $0.221 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Friday, October 4th. This is a positive change from Farmers & Merchants Bancorp's previous quarterly dividend of $0.22. Farmers & Merchants Bancorp's dividend payout ratio is 51.76%.
Wall Street Analysts Forecast Growth
Separately, Piper Sandler raised their price target on Farmers & Merchants Bancorp from $24.00 to $26.00 and gave the stock a "neutral" rating in a research report on Monday, August 5th.
Read Our Latest Stock Analysis on FMAO
Institutional Trading of Farmers & Merchants Bancorp
Hedge funds have recently made changes to their positions in the business. Buckingham Capital Management Inc. acquired a new stake in shares of Farmers & Merchants Bancorp in the third quarter valued at $245,000. SG Americas Securities LLC purchased a new stake in Farmers & Merchants Bancorp during the 3rd quarter worth about $123,000. Trust Co. of Toledo NA OH acquired a new stake in Farmers & Merchants Bancorp in the 3rd quarter valued at about $220,000. Dimensional Fund Advisors LP boosted its stake in shares of Farmers & Merchants Bancorp by 11.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 118,170 shares of the financial services provider's stock valued at $2,744,000 after buying an additional 12,223 shares during the period. Finally, Perritt Capital Management Inc grew its position in shares of Farmers & Merchants Bancorp by 40.0% during the second quarter. Perritt Capital Management Inc now owns 7,000 shares of the financial services provider's stock worth $163,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 23.96% of the company's stock.
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, 2025. Latta (Republican Party) is running for re-election to the U.S. House to represent Ohio's 5th Congressional District. He declared candidacy for the general election scheduled on November 5, 2024. Latta was named Republican ranking member for the House Energy and Commerce Subcommittee on Communication and Technology during the 116th Congress. Previously, Latta served in the Ohio House of Representatives from 2001 to 2007 and the Ohio State Senate from 1997 to 2000.
About Farmers & Merchants Bancorp
(
Get Free Report)
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.
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