Key Points
- Director Andrew Briggs sold 3,000 shares of Farmers & Merchants Bancorp on June 1 at an average price of $27.64, totaling $82,920. After the sale, he still owned 213,085 shares.
- The stock was down 3.2% and opened at $27.14, while trading near the middle of its 52-week range of $22.59 to $29.83. The company has a market cap of about $373.7 million and a P/E ratio of 10.4.
- Recent fundamentals and income remain solid: the company reported quarterly EPS of $0.70, beating estimates, and pays a quarterly dividend of $0.23 per share, implying a 3.4% annualized yield.
Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO - Get Free Report) Director Andrew Briggs sold 3,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $27.64, for a total value of $82,920.00. Following the completion of the sale, the director directly owned 213,085 shares in the company, valued at approximately $5,889,669.40. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Farmers & Merchants Bancorp Trading Down 3.2%
NASDAQ FMAO opened at $27.14 on Thursday. Farmers & Merchants Bancorp Inc. has a 12 month low of $22.59 and a 12 month high of $29.83. The stock has a market cap of $373.72 million, a P/E ratio of 10.40 and a beta of 0.82. The stock's fifty day moving average price is $26.84 and its 200-day moving average price is $26.25. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.58.
Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.02. The firm had revenue of $32.44 million for the quarter, compared to analysts' expectations of $32.54 million. Farmers & Merchants Bancorp had a return on equity of 9.85% and a net margin of 18.54%. As a group, equities analysts forecast that Farmers & Merchants Bancorp Inc. will post 2.83 EPS for the current fiscal year.
Farmers & Merchants Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, April 20th. Stockholders of record on Friday, April 3rd were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Thursday, April 2nd. Farmers & Merchants Bancorp's dividend payout ratio is presently 35.25%.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. Ancora Advisors LLC bought a new position in Farmers & Merchants Bancorp in the third quarter valued at about $921,000. Royal Bank of Canada lifted its holdings in Farmers & Merchants Bancorp by 124.6% in the fourth quarter. Royal Bank of Canada now owns 1,159 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 643 shares during the period. CANADA LIFE ASSURANCE Co bought a new position in Farmers & Merchants Bancorp in the fourth quarter valued at about $34,000. BNP Paribas Financial Markets lifted its holdings in Farmers & Merchants Bancorp by 36.0% in the second quarter. BNP Paribas Financial Markets now owns 1,924 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 509 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in Farmers & Merchants Bancorp by 948.7% in the second quarter. Tower Research Capital LLC TRC now owns 4,436 shares of the financial services provider's stock valued at $112,000 after acquiring an additional 4,013 shares during the period. Institutional investors own 23.96% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on FMAO. Weiss Ratings downgraded Farmers & Merchants Bancorp from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday. Piper Sandler reaffirmed a "neutral" rating and set a $28.50 price target (up from $28.00) on shares of Farmers & Merchants Bancorp in a report on Monday, April 27th. Finally, Hovde Group lowered their price target on Farmers & Merchants Bancorp from $30.00 to $28.50 and set a "market perform" rating on the stock in a report on Friday, April 24th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Farmers & Merchants Bancorp presently has an average rating of "Hold" and an average price target of $28.50.
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About Farmers & Merchants Bancorp
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Farmers & Merchants Bancorp (NASDAQ:FMAO) is the bank holding company for Farmers & Merchants Bank of Central California, a community-focused institution headquartered in Los Banos, California. The bank traces its roots to 1916 and has grown to serve individuals, businesses and agricultural enterprises throughout the western San Joaquin Valley. Operating with a commitment to local decision-making, the company emphasizes personalized service and close ties to the communities in which it operates.
Through its banking subsidiary, Farmers & Merchants offers a comprehensive suite of financial products and services, including checking and savings accounts, certificates of deposit, online and mobile banking platforms, and merchant services.
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