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

Key Points

• Director Andrew Briggs sold 3,000 shares of Farmers & Merchants Bancorp at an average price of $29.52, a transaction worth $88,560. After the sale, he still directly owned 129,550 shares.
• The stock was trading around $29.82, near its 52-week high of $32.00, with a market cap of about $410.6 million and a P/E ratio of 11.43.
• The company recently paid a quarterly dividend of $0.23 per share, implying a 3.1% annualized yield, and its latest earnings beat estimates with $0.70 EPS versus the expected $0.68.

Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO - Get Free Report) Director Andrew Briggs sold 3,000 shares of the business's stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $29.52, for a total transaction of $88,560.00. Following the sale, the director directly owned 129,550 shares of the company's stock, valued at $3,824,316. This represents a 2.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Farmers & Merchants Bancorp Price Performance

Farmers & Merchants Bancorp stock traded down $0.12 during midday trading on Friday, reaching $29.82. The company had a trading volume of 87,035 shares, compared to its average volume of 63,639. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.98 and a quick ratio of 0.98. Farmers & Merchants Bancorp Inc. has a 12-month low of $22.77 and a 12-month high of $32.00. The company has a market capitalization of $410.62 million, a P/E ratio of 11.43 and a beta of 0.81. The firm's fifty day simple moving average is $28.40 and its 200-day simple moving average is $26.97.

Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. Farmers & Merchants Bancorp had a return on equity of 9.85% and a net margin of 18.54%.The company had revenue of $32.44 million during the quarter, compared to analyst estimates of $32.54 million. As a group, equities analysts anticipate that Farmers & Merchants Bancorp Inc. will post 2.83 EPS for the current year.

Farmers & Merchants Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Friday, July 10th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, July 10th. Farmers & Merchants Bancorp's payout ratio is presently 35.25%.

Wall Street Analyst Weigh In

FMAO has been the topic of a number of research reports. Hovde Group decreased their price objective on Farmers & Merchants Bancorp from $30.00 to $28.50 and set a "market perform" rating on the stock in a 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 report on Thursday, June 18th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $32.00 target price (up from $28.50) on shares of Farmers & Merchants Bancorp in a report on Thursday, June 25th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Farmers & Merchants Bancorp has an average rating of "Hold" and a consensus price target of $30.25.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FMAO. Goelzer Investment Management Inc. grew its position in shares of Farmers & Merchants Bancorp by 1,659.8% in the fourth quarter. Goelzer Investment Management Inc. now owns 485,064 shares of the financial services provider's stock valued at $11,991,000 after purchasing an additional 457,500 shares in the last quarter. Align Financial LLC purchased a new position in Farmers & Merchants Bancorp during the fourth quarter worth approximately $6,844,000. Rhino Investment Partners Inc purchased a new position in Farmers & Merchants Bancorp during the first quarter worth approximately $1,765,000. Segall Bryant & Hamill LLC acquired a new position in Farmers & Merchants Bancorp during the first quarter worth $1,319,000. Finally, Jane Street Group LLC boosted its stake in Farmers & Merchants Bancorp by 186.8% during the fourth quarter. Jane Street Group LLC now owns 15,762 shares of the financial services provider's stock worth $390,000 after buying an additional 33,916 shares during the last quarter. 23.96% of the stock is 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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