Farmers & Merchants Bancorp (NASDAQ:FMAO) Announces Earnings Results

Key Points

• Farmers & Merchants Bancorp beat quarterly expectations: Earnings per share came in at $0.84 versus the $0.80 consensus estimate, while revenue totaled $34.81 million, slightly above expectations.
• Shares rose to $35.89 and traded near the 12-month high of $36.31. Analysts maintain a consensus “Hold” rating with an average price target of $32.25.
• The company paid a $0.01 special dividend, while insiders have sold approximately $1.04 million worth of shares over the past 90 days.

Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) issued its quarterly earnings data on Thursday. The financial services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.04, FiscalAI reports. The company had revenue of $34.81 million for the quarter, compared to analysts' expectations of $34.65 million. Farmers & Merchants Bancorp had a return on equity of 10.72% and a net margin of 20.27%.

Farmers & Merchants Bancorp Stock Performance

NASDAQ:FMAO traded up $0.69 during mid-day trading on Thursday, hitting $35.89. 139,813 shares of the company's stock traded hands, compared to its average volume of 63,003. The firm has a 50 day moving average of $34.90 and a two-hundred day moving average of $31.18. The firm has a market capitalization of $494.21 million, a price-to-earnings ratio of 12.33 and a beta of 0.81. 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 has a 12 month low of $22.91 and a 12 month high of $36.31.

Farmers & Merchants Bancorp Dividend Announcement

The company also recently announced a special dividend, which was paid on Tuesday, October 20th. Investors of record on Friday, October 9th were paid a $0.01 dividend. The ex-dividend date was Friday, October 9th. Farmers & Merchants Bancorp's dividend payout ratio (DPR) is presently 32.99%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Farmers & Merchants Bancorp from a "buy" rating to a "hold" rating in a research report on Saturday, September 5th. Piper Sandler reissued a "neutral" rating and issued a $36.00 target price (up from $32.00) on shares of Farmers & Merchants Bancorp in a report on Wednesday, July 29th. Weiss Ratings reiterated a "buy (b)" rating on shares of Farmers & Merchants Bancorp in a report on Monday, September 14th. Finally, Zacks Research lowered shares of Farmers & Merchants Bancorp from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 29th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Farmers & Merchants Bancorp presently has a consensus rating of "Hold" and a consensus price target of $32.25.

Insider Activity at Farmers & Merchants Bancorp

In other Farmers & Merchants Bancorp news, Director Andrew J. Briggs sold 3,000 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $34.76, for a total transaction of $104,280.00. Following the completion of the transaction, the director directly owned 72,550 shares in the company, valued at $2,521,838. This represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 30,402 shares of company stock worth $1,044,760. 7.30% of the stock is currently owned by company insiders.

About Farmers & Merchants Bancorp

Farmers & Merchants Bancorp, Inc is a bank holding company headquartered in Archbold, Ohio. Founded in 1897, the company operates through its principal subsidiary, The Farmers & Merchants State Bank, a community bank serving individuals, families, farmers and businesses.

The bank offers a range of traditional financial services, including checking and savings accounts, certificates of deposit, consumer and residential mortgage loans, commercial lending, agricultural loans and other business banking products.

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