Key Points
- Director Andrew Briggs sold 3,000 shares of Farmers & Merchants Bancorp on June 17 at an average price of $28.63, totaling about $85,890. After the sale, he still held 177,550 shares.
- The company recently posted better-than-expected quarterly earnings of $0.70 per share, beating analyst estimates by $0.02, though revenue came in slightly below expectations.
- Farmers & Merchants Bancorp also pays a quarterly dividend of $0.23 per share, which annualizes to a 3.2% yield at the time of the article.
Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO - Get Free Report) Director Andrew Briggs sold 3,000 shares of the business's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $28.63, for a total value of $85,890.00. Following the completion of the sale, the director directly owned 177,550 shares in the company, valued at $5,083,256.50. This represents a 1.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.
Farmers & Merchants Bancorp Price Performance
FMAO opened at $28.55 on Thursday. The stock has a market cap of $393.13 million, a price-to-earnings ratio of 10.94 and a beta of 0.82. Farmers & Merchants Bancorp Inc. has a 1 year low of $22.77 and a 1 year high of $29.83. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.58. The stock has a fifty day moving average price of $27.42 and a 200 day moving average price of $26.54.
Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.02. Farmers & Merchants Bancorp had a return on equity of 9.85% and a net margin of 18.54%.The company had revenue of $32.44 million during the quarter, compared to analysts' expectations of $32.54 million. Analysts forecast that Farmers & Merchants Bancorp Inc. will post 2.83 EPS for the current fiscal year.
Farmers & Merchants Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, April 20th. Shareholders of record on Friday, April 3rd were issued a $0.23 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $0.92 annualized dividend and a yield of 3.2%. Farmers & Merchants Bancorp's dividend payout ratio is 35.25%.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on FMAO shares. Weiss Ratings lowered Farmers & Merchants Bancorp from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 2nd. Piper Sandler reaffirmed a "neutral" rating and set a $28.50 price objective (up from $28.00) on shares of Farmers & Merchants Bancorp in a research note on Monday, April 27th. Finally, Hovde Group lowered their target price on Farmers & Merchants Bancorp from $30.00 to $28.50 and set a "market perform" rating for the company in a report on Friday, April 24th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $28.50.
Check Out Our Latest Research Report on Farmers & Merchants Bancorp
Hedge Funds Weigh In On Farmers & Merchants Bancorp
A number of hedge funds and other institutional investors have recently bought and sold shares of FMAO. Jane Street Group LLC acquired a new stake in Farmers & Merchants Bancorp during the first quarter worth approximately $380,000. Franklin Resources Inc. acquired a new stake in shares of Farmers & Merchants Bancorp in the second quarter valued at approximately $210,000. Bridgeway Capital Management LLC raised its position in Farmers & Merchants Bancorp by 2.1% during the second quarter. Bridgeway Capital Management LLC now owns 19,257 shares of the financial services provider's stock valued at $487,000 after purchasing an additional 401 shares in the last quarter. BNP Paribas Financial Markets raised its position in Farmers & Merchants Bancorp by 36.0% during the second quarter. BNP Paribas Financial Markets now owns 1,924 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 509 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Farmers & Merchants Bancorp by 948.7% during 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 purchasing an additional 4,013 shares in the last quarter. Institutional investors own 23.96% of the company's stock.
About Farmers & Merchants Bancorp
(
Get Free Report)
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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