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 $34.54, receiving $103,620 and reducing his direct stake by 4.31% to 66,550 shares.
• Farmers & Merchants Bancorp shares rose 0.2% to $35.14 and are trading near their 12-month high of $35.94. The company recently beat quarterly earnings expectations, reporting $0.86 EPS versus the $0.67 consensus estimate.
• The company maintains a quarterly dividend of $0.23, equivalent to $0.92 annually and a 2.6% yield. Analysts’ consensus rating is “Moderate Buy”, with an average price target of $32.25.

Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO - Get Free Report) Director Andrew Briggs sold 3,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $34.54, for a total transaction of $103,620.00. Following the completion of the sale, the director directly owned 66,550 shares of the company's stock, valued at $2,298,637. This trade represents a 4.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Farmers & Merchants Bancorp Stock Up 0.2%

Shares of FMAO traded up $0.08 during mid-day trading on Wednesday, reaching $35.14. 40,720 shares of the stock traded hands, compared to its average volume of 67,388. The stock has a fifty day simple moving average of $30.70 and a 200 day simple moving average of $28.12. Farmers & Merchants Bancorp Inc. has a 12-month low of $22.77 and a 12-month high of $35.94. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.44. The firm has a market cap 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 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.19. The business had revenue of $34.35 million during the quarter, compared to the consensus estimate of $33.05 million. Farmers & Merchants Bancorp had a net margin of 20.27% and a return on equity of 10.72%. Sell-side analysts expect that Farmers & Merchants Bancorp Inc. will post 3.05 EPS for the current fiscal year.

Farmers & Merchants Bancorp Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.6%. Farmers & Merchants Bancorp's payout ratio is currently 31.62%.

Wall Street Analyst Weigh In

FMAO has been the subject of several recent analyst reports. Hovde Group lowered 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. Wall Street Zen upgraded Farmers & Merchants Bancorp from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Zacks Research upgraded Farmers & Merchants Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded 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 issued a $36.00 target price (up from $32.00) on shares of Farmers & Merchants Bancorp in a research report on Wednesday, July 29th. One 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. Based on data from MarketBeat, Farmers & Merchants Bancorp presently has a consensus rating of "Moderate Buy" and an average target price of $32.25.

Institutional Investors Weigh In On Farmers & Merchants Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in Farmers & Merchants Bancorp in the first quarter worth about $380,000. Franklin Resources Inc. bought a new position in Farmers & Merchants Bancorp during the 2nd quarter worth approximately $210,000. Bridgeway Capital Management LLC grew its position in shares of Farmers & Merchants Bancorp by 2.1% in the 2nd quarter. Bridgeway Capital Management LLC now owns 19,257 shares of the financial services provider's stock worth $487,000 after acquiring an additional 401 shares in the last quarter. BNP Paribas Financial Markets increased its holdings 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 acquiring an additional 509 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Farmers & Merchants Bancorp by 948.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,436 shares of the financial services provider's stock valued at $112,000 after acquiring an additional 4,013 shares during the last quarter. Institutional investors own 23.96% of the company's stock.

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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