Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO - Get Free Report) Director Andrew Briggs sold 2,402 shares of the business's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $35.05, for a total transaction of $84,190.10. Following the completion of the transaction, the director owned 49,148 shares in the company, valued at approximately $1,722,637.40. This trade represents a 4.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Farmers & Merchants Bancorp Stock Down 0.6%
Shares of NASDAQ FMAO opened at $34.83 on Wednesday. Farmers & Merchants Bancorp Inc. has a 12-month low of $22.77 and a 12-month high of $35.94. The firm's 50-day simple moving average is $31.42 and its 200 day simple moving average is $28.44. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.44. The company has a market cap of $479.61 million, a price-to-earnings ratio of 11.97 and a beta of 0.80.
Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) last announced its earnings results on Monday, July 27th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.19. Farmers & Merchants Bancorp had a net margin of 20.27% and a return on equity of 10.72%. The company had revenue of $34.35 million during the quarter, compared to the consensus estimate of $33.05 million. On average, research analysts expect that Farmers & Merchants Bancorp Inc. will post 3.05 earnings per share for the current fiscal year.
Farmers & Merchants Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Friday, July 10th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $0.92 annualized dividend and a yield of 2.6%. Farmers & Merchants Bancorp's dividend payout ratio is currently 31.62%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Farmers & Merchants Bancorp during the second quarter worth about $33,241,000. Vanguard Group Inc. raised its position in Farmers & Merchants Bancorp by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 682,608 shares of the financial services provider's stock valued at $17,072,000 after buying an additional 4,979 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Farmers & Merchants Bancorp by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 301,252 shares of the financial services provider's stock worth $7,448,000 after acquiring an additional 2,402 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in Farmers & Merchants Bancorp during the second quarter worth $8,843,000. Finally, Align Financial LLC bought a new position in Farmers & Merchants Bancorp in the fourth quarter valued at $6,844,000. 23.96% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on FMAO shares. Zacks Research upgraded Farmers & Merchants Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 29th. Piper Sandler reissued a "neutral" rating and set a $36.00 price objective (up from $32.00) on shares of Farmers & Merchants Bancorp in a report on Wednesday, July 29th. Hovde Group reduced their target price on shares of 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. Weiss Ratings upgraded Farmers & Merchants Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, June 18th. Finally, Wall Street Zen upgraded Farmers & Merchants Bancorp from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Farmers & Merchants Bancorp has a consensus rating of "Moderate Buy" and an average price target of $32.25.
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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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