Andrew Briggs Sells 3,000 Shares of Farmers & Merchants Bancorp (NASDAQ:FMAO) Stock

Key Points

• Director Andrew Briggs sold 3,000 FMAO shares at an average price of $31.59, generating $94,770 and reducing his ownership by 3.11% to 93,550 shares.
• Farmers & Merchants Bancorp exceeded quarterly expectations, reporting $0.86 in EPS versus the $0.67 consensus estimate and $34.35 million in revenue versus $33.05 million expected.
• The company maintains a quarterly dividend of $0.23 per share, equal to an annualized $0.92 and a 2.7% yield, while analysts collectively rate the stock “Hold” with an average price target of $30.25.

Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO - Get Free Report) Director Andrew Briggs sold 3,000 shares of the firm's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $31.59, for a total value of $94,770.00. Following the transaction, the director owned 93,550 shares in the company, valued at approximately $2,955,244.50. This trade represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Farmers & Merchants Bancorp Stock Performance

Shares of FMAO stock opened at $34.44 on Wednesday. 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 firm has a 50-day moving average of $29.39 and a 200-day moving average of $27.49. Farmers & Merchants Bancorp Inc. has a one year low of $22.77 and a one year high of $34.74. The company has a market cap of $474.24 million, a P/E ratio of 11.84 and a beta of 0.81.

Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) last released its quarterly 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. The business had revenue of $34.35 million for the quarter, compared to analysts' expectations of $33.05 million. Farmers & Merchants Bancorp had a net margin of 20.27% and a return on equity of 10.83%. Equities research analysts forecast that Farmers & Merchants Bancorp Inc. will post 2.83 EPS for the current fiscal year.

Farmers & Merchants Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Friday, July 10th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, July 10th. Farmers & Merchants Bancorp's dividend payout ratio (DPR) is presently 35.25%.

Analysts Set New Price Targets

FMAO has been the topic of a number of recent analyst reports. Hovde Group lowered their target price 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. Piper Sandler restated a "neutral" rating on shares of Farmers & Merchants Bancorp in a report on Wednesday. Finally, Weiss Ratings upgraded shares of Farmers & Merchants Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, June 18th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $30.25.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FMAO. Versant Capital Management Inc boosted its holdings in shares of 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 worth $25,000 after acquiring an additional 341 shares during the period. Segall Bryant & Hamill LLC purchased a new position in Farmers & Merchants Bancorp during the 1st quarter valued at about $1,319,000. Bank of America Corp DE lifted its holdings in shares of Farmers & Merchants Bancorp by 15.6% in the first quarter. Bank of America Corp DE now owns 17,246 shares of the financial services provider's stock worth $443,000 after buying an additional 2,326 shares in the last quarter. Rhino Investment Partners Inc bought a new position in shares of Farmers & Merchants Bancorp in the first quarter valued at approximately $1,765,000. Finally, Quantinno Capital Management LP grew its stake in Farmers & Merchants Bancorp by 37.0% during the first quarter. Quantinno Capital Management LP now owns 38,041 shares of the financial services provider's stock valued at $977,000 after acquiring an additional 10,279 shares in the last quarter. 23.96% of the stock is currently owned by hedge funds and other institutional investors.

About Farmers & Merchants Bancorp

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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