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

Key Points

• Director Andrew Briggs sold 3,000 FMAO shares at an average price of $30.47, generating $91,410 and reducing his position by 2.62% to 111,550 shares.
• Farmers & Merchants Bancorp shares rose 8.8% to $33.95, near their 52-week high, while the company reported quarterly EPS of $0.86—well above the $0.67 analyst estimate—and revenue of $34.35 million.
• The company pays a quarterly dividend of $0.23, equivalent to $0.92 annually and a 2.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $30.25.

Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO - Get Free Report) Director Andrew Briggs sold 3,000 shares of the firm's stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $30.47, for a total value of $91,410.00. Following the transaction, the director owned 111,550 shares in the company, valued at approximately $3,398,928.50. This trade represents a 2.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Farmers & Merchants Bancorp Trading Up 8.8%

Shares of Farmers & Merchants Bancorp stock traded up $2.75 during trading on Tuesday, hitting $33.95. 71,379 shares of the company were exchanged, compared to its average volume of 63,752. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $467.51 million, a P/E ratio of 12.99 and a beta of 0.81. The firm's fifty day moving average price is $29.25 and its 200 day moving average price is $27.41. Farmers & Merchants Bancorp Inc. has a 1-year low of $22.77 and a 1-year high of $34.44.

Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.19. Farmers & Merchants Bancorp had a net margin of 18.54% and a return on equity of 9.85%. The business had revenue of $34.35 million for the quarter, compared to the consensus estimate of $33.05 million. As a group, sell-side analysts expect that Farmers & Merchants Bancorp Inc. will post 2.83 earnings per share for the current fiscal year.

Farmers & Merchants Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Friday, July 10th were issued a $0.23 dividend. The ex-dividend date was Friday, July 10th. This represents a $0.92 annualized dividend and a yield of 2.7%. Farmers & Merchants Bancorp's dividend payout ratio (DPR) is 35.25%.

Analyst Ratings Changes

A number of research firms recently commented on FMAO. Weiss Ratings upgraded shares of Farmers & Merchants Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, June 18th. Piper Sandler reiterated 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. Finally, Hovde Group decreased their target price on 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. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $30.25.

Institutional Investors Weigh In On Farmers & Merchants Bancorp

Large investors have recently made changes to their positions in the stock. Versant Capital Management Inc raised its holdings in shares of Farmers & Merchants Bancorp by 72.2% during the second quarter. Versant Capital Management Inc now owns 813 shares of the financial services provider's stock worth $25,000 after acquiring an additional 341 shares during the period. Royal Bank of Canada increased its holdings in Farmers & Merchants Bancorp by 124.6% during the 4th quarter. Royal Bank of Canada now owns 1,159 shares of the financial services provider's stock worth $28,000 after purchasing an additional 643 shares in the last quarter. CANADA LIFE ASSURANCE Co acquired a new stake in shares of Farmers & Merchants Bancorp in the 4th quarter valued at about $34,000. BNP Paribas Financial Markets raised its stake in shares of Farmers & Merchants Bancorp by 36.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,924 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 509 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Farmers & Merchants Bancorp by 948.7% in the second quarter. Tower Research Capital LLC TRC now owns 4,436 shares of the financial services provider's stock valued at $112,000 after purchasing an additional 4,013 shares in the last quarter. Institutional investors own 23.96% of the company's stock.

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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