Key Points
- Director Andrew Briggs sold 3,000 shares of Farmers & Merchants Bancorp at an average price of $29.52, totaling $88,560. After the sale, he still owned 129,550 shares, a 2.26% reduction in his stake.
- The company recently reported solid quarterly results, posting earnings of $0.70 per share versus analyst expectations of $0.68. Revenue came in at $32.44 million, slightly below estimates.
- Farmers & Merchants Bancorp announced a quarterly dividend of $0.23 per share, payable July 20, which works out to an annualized yield of about 3.1%. The stock also carries a consensus analyst rating of “Hold” with an average target price of $30.25.
Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO - Get Free Report) Director Andrew Briggs sold 3,000 shares of the business's stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $29.52, for a total transaction of $88,560.00. Following the completion of the transaction, the director directly owned 129,550 shares of the company's stock, valued at approximately $3,824,316. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Farmers & Merchants Bancorp Price Performance
Shares of FMAO stock traded down $0.12 during trading hours on Friday, reaching $29.82. 87,035 shares of the company were exchanged, compared to its average volume of 110,302. Farmers & Merchants Bancorp Inc. has a fifty-two week low of $22.77 and a fifty-two week high of $32.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.98 and a quick ratio of 0.98. The stock's fifty day moving average is $28.47 and its two-hundred day moving average is $26.99. The company has a market cap of $410.62 million, a price-to-earnings ratio of 11.43 and a beta of 0.81.
Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.02. The business had revenue of $32.44 million during the quarter, compared to analyst estimates of $32.54 million. Farmers & Merchants Bancorp had a net margin of 18.54% and a return on equity of 9.85%. Sell-side analysts forecast that Farmers & Merchants Bancorp Inc. will post 2.83 earnings per share for the current fiscal year.
Farmers & Merchants Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Friday, July 10th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, July 10th. Farmers & Merchants Bancorp's dividend payout ratio (DPR) is presently 35.25%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the company. Piper Sandler reissued a "neutral" rating and issued a $32.00 target price (up from $28.50) on shares of Farmers & Merchants Bancorp in a research note on Thursday, June 25th. Weiss Ratings raised Farmers & Merchants Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, June 18th. Finally, Hovde Group decreased 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 research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $30.25.
View Our Latest Stock Report on FMAO
Institutional Investors Weigh In On Farmers & Merchants Bancorp
A number of institutional investors and hedge funds have recently modified their holdings of FMAO. Versant Capital Management Inc lifted its holdings in Farmers & Merchants Bancorp by 72.2% in the second quarter. Versant Capital Management Inc now owns 813 shares of the financial services provider's stock valued at $25,000 after buying an additional 341 shares during the period. Bridgeway Capital Management LLC boosted its stake in Farmers & Merchants Bancorp by 2.1% in the second quarter. Bridgeway Capital Management LLC now owns 19,257 shares of the financial services provider's stock valued at $487,000 after acquiring an additional 401 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Farmers & Merchants Bancorp by 36.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,924 shares of the financial services provider's stock worth $49,000 after acquiring an additional 509 shares during the period. Royal Bank of Canada grew its holdings in Farmers & Merchants Bancorp by 124.6% during the 4th quarter. Royal Bank of Canada now owns 1,159 shares of the financial services provider's stock worth $28,000 after acquiring an additional 643 shares during the period. Finally, Millennium Management LLC raised its position in shares of Farmers & Merchants Bancorp by 2.9% during the 3rd quarter. Millennium Management LLC now owns 25,483 shares of the financial services provider's stock valued at $637,000 after acquiring an additional 722 shares during the last quarter. 23.96% of the stock is owned by institutional investors.
Farmers & Merchants Bancorp Company Profile
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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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