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

Key Points

• Director Andrew Briggs sold 3,000 FMAO shares for approximately $104,820, reducing his stake by 4.72% to 60,550 shares.
• Farmers & Merchants Bancorp reported quarterly EPS of $0.86, exceeding analyst expectations of $0.67, while revenue of $34.35 million also topped forecasts.
• FMAO shares rose 0.2% to $35.14, near their 52-week high, and the company maintains a quarterly dividend of $0.23 per share, representing a 2.6% yield.

Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO - Get Free Report) Director Andrew Briggs sold 3,000 shares of Farmers & Merchants Bancorp stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $34.94, for a total value of $104,820.00. Following the completion of the transaction, the director owned 60,550 shares of the company's stock, valued at approximately $2,115,617. This represents a 4.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Farmers & Merchants Bancorp Trading Up 0.2%

FMAO stock traded up $0.08 during midday trading on Wednesday, reaching $35.14. 40,720 shares of the company traded hands, compared to its average volume of 67,388. Farmers & Merchants Bancorp Inc. has a 52-week low of $22.77 and a 52-week 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 has a 50 day moving average of $30.70 and a 200-day moving average of $28.12. The firm has a market capitalization of $483.88 million, a price-to-earnings ratio of 12.08 and a beta of 0.80.

Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) last announced its earnings results on Monday, July 27th. The financial services provider reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.19. The firm had revenue of $34.35 million during the quarter, compared to analysts' expectations of $33.05 million. Farmers & Merchants Bancorp had a return on equity of 10.72% and a net margin of 20.27%. As a group, sell-side analysts expect that Farmers & Merchants Bancorp Inc. will post 3.05 earnings per share 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 paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, July 10th. Farmers & Merchants Bancorp's dividend payout ratio (DPR) is currently 31.62%.

Institutional Trading of Farmers & Merchants Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in FMAO. Ieq Capital LLC purchased a new stake in Farmers & Merchants Bancorp in the second quarter worth about $249,000. BlackRock Inc. purchased a new position in Farmers & Merchants Bancorp during the 2nd quarter valued at about $33,241,000. Deutsche Bank AG bought a new stake in shares of Farmers & Merchants Bancorp in the 2nd quarter valued at about $404,000. Bank of New York Mellon Corp bought a new stake in shares of Farmers & Merchants Bancorp in the 2nd quarter valued at about $1,524,000. Finally, Versant Capital Management Inc lifted its position in shares of Farmers & Merchants Bancorp by 72.2% in 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 during the period. 23.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on FMAO. Wall Street Zen raised Farmers & Merchants Bancorp from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Hovde Group lowered 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 note on Friday, April 24th. Zacks Research upgraded shares of Farmers & Merchants Bancorp from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 29th. 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. Finally, Piper Sandler reiterated a "neutral" rating and set a $36.00 price objective (up from $32.00) on shares of Farmers & Merchants Bancorp in a report on Wednesday, July 29th. 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 data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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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