Carnegie Investment Counsel Reduces Stake in Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO)

Carnegie Investment Counsel trimmed its position in shares of Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) by 14.4% during the third quarter, Holdings Channel reports. The firm owned 9,679 shares of the financial services provider’s stock after selling 1,625 shares during the quarter. Carnegie Investment Counsel’s holdings in Farmers & Merchants Bancorp were worth $268,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Perritt Capital Management Inc raised its stake in shares of Farmers & Merchants Bancorp by 40.0% during the 2nd 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 during the last quarter. BNP Paribas Financial Markets grew its stake in Farmers & Merchants Bancorp by 79.7% in the 1st quarter. BNP Paribas Financial Markets now owns 6,459 shares of the financial services provider’s stock valued at $144,000 after acquiring an additional 2,864 shares during the last quarter. SG Americas Securities LLC purchased a new position in Farmers & Merchants Bancorp during the 3rd quarter valued at about $123,000. Bank of New York Mellon Corp raised its position in Farmers & Merchants Bancorp by 9.6% during the second quarter. Bank of New York Mellon Corp now owns 54,529 shares of the financial services provider’s stock worth $1,266,000 after acquiring an additional 4,765 shares during the last quarter. Finally, Trust Co. of Toledo NA OH purchased a new stake in shares of Farmers & Merchants Bancorp in the third quarter valued at about $220,000. Institutional investors and hedge funds own 23.96% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler raised their price objective on shares of Farmers & Merchants Bancorp from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th.

Farmers & Merchants Bancorp Stock Performance

NASDAQ FMAO opened at $28.01 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.82. Farmers & Merchants Bancorp, Inc. has a fifty-two week low of $16.90 and a fifty-two week high of $28.75. The business has a fifty day moving average of $26.44 and a 200-day moving average of $23.90. The stock has a market cap of $383.23 million, a price-to-earnings ratio of 17.62 and a beta of 0.63.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. The firm had revenue of $44.83 million during the quarter, compared to analysts’ expectations of $24.39 million. Farmers & Merchants Bancorp had a return on equity of 6.79% and a net margin of 12.59%. As a group, analysts predict that Farmers & Merchants Bancorp, Inc. will post 1.59 earnings per share for the current fiscal year.

Farmers & Merchants Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 20th. Stockholders of record on Friday, October 4th will be given a $0.221 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Friday, October 4th. This is a positive change from Farmers & Merchants Bancorp’s previous quarterly dividend of $0.22. Farmers & Merchants Bancorp’s payout ratio is currently 55.35%.

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.