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

Key Points

• Director Andrew Briggs sold 3,000 Farmers & Merchants Bancorp shares at an average price of $35.11, generating $105,330 and reducing his direct ownership by 5.5% to 51,550 shares.
• FMAO recently reported quarterly EPS of $0.86, exceeding the $0.67 consensus estimate, while revenue of $34.35 million also topped expectations. The company pays a quarterly dividend of $0.23, equivalent to a 2.6% annualized yield.
• Analyst sentiment is currently “Moderate Buy”, with an average price target of $32.25, while the stock was trading at $34.83 and near its 52-week high of $35.94.

Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO - Get Free Report) Director Andrew Briggs sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $35.11, for a total value of $105,330.00. Following the completion of the transaction, the director directly owned 51,550 shares of the company's stock, valued at $1,809,920.50. The trade was a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Farmers & Merchants Bancorp Price Performance

FMAO stock traded down $0.20 during midday trading on Tuesday, hitting $34.83. 56,845 shares of the stock were exchanged, compared to its average volume of 67,203. The stock's 50-day moving average price is $31.29 and its 200-day moving average price is $28.37. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.96 and a current ratio of 0.96. The stock 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 Inc. has a fifty-two week low of $22.77 and a fifty-two week high of $35.94.

Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) last posted its earnings results on Monday, July 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $33.05 million. Research analysts predict that Farmers & Merchants Bancorp Inc. will post 3.05 earnings per share for the current year.

Farmers & Merchants Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Friday, July 10th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, July 10th. Farmers & Merchants Bancorp's dividend payout ratio is presently 31.62%.

Analyst Ratings Changes

A number of brokerages have issued reports on FMAO. Hovde Group cut their target price on shares of Farmers & Merchants Bancorp from $30.00 to $28.50 and set a "market perform" rating for the company in a research report on Friday, April 24th. Weiss Ratings raised shares of Farmers & Merchants Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, June 18th. 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 research note on Wednesday, July 29th. Zacks Research upgraded Farmers & Merchants Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen raised Farmers & Merchants Bancorp from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Farmers & Merchants Bancorp presently has a consensus rating of "Moderate Buy" and an average target price of $32.25.

Institutional Investors Weigh In On Farmers & Merchants Bancorp

Hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Farmers & Merchants Bancorp in the second quarter valued at approximately $33,241,000. Vanguard Group Inc. boosted its position in Farmers & Merchants Bancorp by 0.7% during the third quarter. Vanguard Group Inc. now owns 682,608 shares of the financial services provider's stock worth $17,072,000 after acquiring an additional 4,979 shares during the last quarter. Geode Capital Management LLC grew its stake in Farmers & Merchants Bancorp by 0.8% in 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 during the period. The Manufacturers Life Insurance Company purchased a new stake in Farmers & Merchants Bancorp in the 2nd quarter worth approximately $8,843,000. Finally, Align Financial LLC purchased a new stake in Farmers & Merchants Bancorp in the 4th quarter worth approximately $6,844,000. 23.96% of the stock is owned by institutional investors and hedge funds.

Farmers & Merchants Bancorp Company Profile

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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