In a report released today, Scott Beury from Boenning & Scattergood maintained a Hold rating on Farmers & Merchants Bancorp, Inc. (FMAO). The company’s shares opened today at $31.09, close to its 52-week low of $29.61.
Beury commented:
“We believe Farmers & Merchants is poised to consistently generate high-quality earnings. Management has worked diligently to reposition the balance sheet for accelerated loan growth through a combination of securities sales and accelerated core deposit growth. In the near-term, we expect loan growth to accelerate to a high single-digit pace, which should aid the net interest margin as asset yields improve. Longer-term, we believe the company’s well-managed expenses and disciplined credit standards will provide stability and consistency at the bottom line. The shares currently trade at a premium to peers on both P/E and on tangible book, which we believe is warranted based on the company’s superior return profile. Therefore, we maintain our Neutral rating on shares of FMAO.”
According to TipRanks.com, Beury is a 3-star analyst with an average return of 2.0% and a 48.7% success rate. Beury covers the Financial sector, focusing on stocks such as Farmers National Banc Corp Oh, Old National Bancorp Capital, and Independent Bank Corporation.
The the analyst consensus on Farmers & Merchants Bancorp, Inc. is currently a Hold rating.
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The company has a one-year high of $49.99 and a one-year low of $29.61. Currently, Farmers & Merchants Bancorp, Inc. has an average volume of 10.21K.
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Farmers & Merchants Bancorp, Inc. operates as a bank holding company, which engages in the provision of commercial banking, retail banking, and financial services. It includes commercial, agricultural, and residential mortgage as well as consumer and credit card lending activities.
