Farmers & Merchants Bancorp (NASDAQ:FMAO) Director Andrew Briggs Sells 2,402 Shares of Stock

Key Points

• Director Andrew Briggs sold 2,402 FMAO shares at an average price of $35.05, generating $84,190.10 and reducing his direct stake by 4.66% to 49,148 shares.
• Farmers & Merchants Bancorp 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 per share, yielding approximately 2.6% annually.
• FMAO shares fell 0.6% to $34.83, near their 12-month high of $35.94. Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $32.25.

Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO - Get Free Report) Director Andrew Briggs sold 2,402 shares of the firm's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $35.05, for a total value of $84,190.10. Following the completion of the sale, the director directly owned 49,148 shares of the company's stock, valued at approximately $1,722,637.40. This trade represents a 4.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Farmers & Merchants Bancorp Stock Down 0.6%

Shares of FMAO stock traded down $0.20 on Tuesday, reaching $34.83. 56,845 shares of the company's stock traded hands, compared to its average volume of 67,203. The company has a market capitalization of $479.61 million, a P/E ratio of 11.97 and a beta of 0.80. Farmers & Merchants Bancorp Inc. has a 12-month low of $22.77 and a 12-month high of $35.94. 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 business's 50 day moving average price is $31.29 and its two-hundred day moving average price is $28.37.

Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.86 earnings per share (EPS) 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 firm had revenue of $34.35 million during the quarter, compared to the consensus estimate of $33.05 million. On average, equities analysts forecast that Farmers & Merchants Bancorp Inc. will post 3.05 earnings per share for the current year.

Farmers & Merchants Bancorp Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, July 10th. This represents a $0.92 dividend on an annualized basis and a yield of 2.6%. Farmers & Merchants Bancorp's dividend payout ratio (DPR) is presently 31.62%.

Institutional Investors Weigh In On Farmers & Merchants Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc raised its stake in shares of Farmers & Merchants Bancorp by 72.2% during the 2nd quarter. Versant Capital Management Inc now owns 813 shares of the financial services provider's stock worth $25,000 after purchasing an additional 341 shares in the last quarter. Royal Bank of Canada raised its holdings in Farmers & Merchants Bancorp by 124.6% in the 4th quarter. Royal Bank of Canada now owns 1,159 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 643 shares during the period. CANADA LIFE ASSURANCE Co bought a new stake in Farmers & Merchants Bancorp in the 4th quarter valued at $34,000. Legal & General Group Plc acquired a new position in shares of Farmers & Merchants Bancorp in the second quarter valued at about $40,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Farmers & Merchants Bancorp by 36.0% during the second quarter. BNP Paribas Financial Markets now owns 1,924 shares of the financial services provider's stock worth $49,000 after purchasing an additional 509 shares during the period. 23.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on FMAO shares. Zacks Research upgraded shares of Farmers & Merchants Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 29th. Piper Sandler restated a "neutral" rating and set a $36.00 price target (up from $32.00) on shares of Farmers & Merchants Bancorp in a report on Wednesday, July 29th. 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. Weiss Ratings raised shares of Farmers & Merchants Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, June 18th. Finally, Hovde Group reduced their price target on shares of Farmers & Merchants Bancorp from $30.00 to $28.50 and set a "market perform" rating on the stock in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Farmers & Merchants Bancorp presently has an average rating of "Moderate Buy" and an average price target of $32.25.

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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