Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $71.77 and last traded at $71.89, with a volume of 22,268 shares trading hands. The stock had previously closed at $68.00.

Several brokerages have recently issued reports on FMAO. Zacks Investment Research lowered shares of Farmers & Merchants Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine raised shares of Farmers & Merchants Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd.

The firm has a market cap of $368.68 million, a P/E ratio of 30.32 and a beta of 0.04. The stock’s 50-day moving average is $60.48 and its 200 day moving average is $52.01. Farmers & Merchants Bancorp shares are going to split before the market opens on Thursday, September 21st. The 2-1 split was announced on Friday, August 18th. The newly minted shares will be distributed to shareholders after the closing bell on Wednesday, September 20th.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. The firm had revenue of $11.64 million for the quarter, compared to analysts’ expectations of $11.49 million. Farmers & Merchants Bancorp had a return on equity of 9.60% and a net margin of 24.37%. On average, equities research analysts expect that Farmers & Merchants Bancorp Inc. will post $2.70 earnings per share for the current fiscal year.

In other news, Director Steven Everhart sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $54.00, for a total transaction of $54,000.00. Following the transaction, the director now directly owns 10,998 shares of the company’s stock, valued at $593,892. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.03% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of FMAO. Northern Trust Corp acquired a new position in shares of Farmers & Merchants Bancorp during the second quarter worth approximately $2,363,000. Goldman Sachs Group Inc. acquired a new position in shares of Farmers & Merchants Bancorp during the second quarter worth approximately $945,000. State Street Corp acquired a new position in shares of Farmers & Merchants Bancorp during the second quarter worth approximately $884,000. Bank of New York Mellon Corp acquired a new position in shares of Farmers & Merchants Bancorp during the second quarter worth approximately $791,000. Finally, TIAA CREF Investment Management LLC acquired a new position in shares of Farmers & Merchants Bancorp during the second quarter worth approximately $743,000. 7.77% of the stock is currently owned by institutional investors.

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About Farmers & Merchants Bancorp

Farmers & Merchants Bancorp, Inc is a bank holding company. The Company’s primary subsidiary, The Farmers & Merchants State Bank (the Bank), is a community bank operating in Northwest Ohio and Northeast Indiana. The Company’s other subsidiary, Farmers & Merchants Risk Management (Captive), is a captive insurance company.

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