Key Points
- Director Andrew Briggs sold 3,000 FMAO shares at an average price of $34.54, generating $103,620 and reducing his stake by 4.31% to 66,550 shares.
- Farmers & Merchants Bancorp reported quarterly EPS of $0.86, beating estimates of $0.67, while revenue reached $34.35 million versus the $33.05 million consensus.
- The company pays a quarterly dividend of $0.23, or $0.92 annually, yielding approximately 2.6%; analysts collectively maintain a “Moderate Buy” rating with an average price target of $32.25.
Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO - Get Free Report) Director Andrew Briggs sold 3,000 shares of Farmers & Merchants Bancorp stock in a transaction on Monday, August 10th. The shares were sold at an average price of $34.54, for a total transaction of $103,620.00. Following the transaction, the director owned 66,550 shares in the company, valued at $2,298,637. The trade was a 4.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Farmers & Merchants Bancorp Stock Up 0.2%
Shares of NASDAQ FMAO opened at $35.14 on Thursday. The stock has a fifty day moving average price of $30.86 and a 200 day moving average price of $28.18. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.44. Farmers & Merchants Bancorp Inc. has a 12-month low of $22.77 and a 12-month high of $35.94. The company has a market cap of $483.88 million, a P/E ratio of 12.08 and a beta of 0.80.
Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) last issued its earnings results on Monday, July 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.19. Farmers & Merchants Bancorp had a return on equity of 10.72% and a net margin of 20.27%.The company had revenue of $34.35 million during the quarter, compared to the consensus estimate of $33.05 million. Research analysts anticipate that Farmers & Merchants Bancorp Inc. will post 3.05 EPS for the current fiscal year.
Farmers & Merchants Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Friday, July 10th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Friday, July 10th. Farmers & Merchants Bancorp's dividend payout ratio is currently 31.62%.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in FMAO. BlackRock Inc. acquired a new stake in shares of Farmers & Merchants Bancorp during the 2nd quarter valued at approximately $33,241,000. Align Financial LLC bought a new stake in Farmers & Merchants Bancorp during the fourth quarter valued at $6,844,000. Rhino Investment Partners Inc acquired a new stake in shares of Farmers & Merchants Bancorp during the first quarter worth $1,765,000. Segall Bryant & Hamill LLC bought a new position in shares of Farmers & Merchants Bancorp in the 1st quarter worth about $1,319,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Farmers & Merchants Bancorp in the 2nd quarter valued at about $1,524,000. Institutional investors and hedge funds own 23.96% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have recently commented on the stock. Piper Sandler reissued a "neutral" rating and set a $36.00 target price (up from $32.00) on shares of Farmers & Merchants Bancorp in a research report on Wednesday, July 29th. Weiss Ratings upgraded shares of Farmers & Merchants Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, June 18th. Wall Street Zen raised shares of Farmers & Merchants Bancorp from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Zacks Research raised Farmers & Merchants Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 29th. Finally, Hovde Group cut their price target on Farmers & Merchants Bancorp from $30.00 to $28.50 and set a "market perform" rating on the stock in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $32.25.
Get Our Latest Analysis on Farmers & Merchants Bancorp
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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