BlackRock Inc. Purchases Shares of 1,087,009 Farmers & Merchants Bancorp Inc. $FMAO

BlackRock Inc. purchased a new position in shares of Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,087,009 shares of the financial services provider's stock, valued at approximately $33,241,000. BlackRock Inc. owned approximately 7.89% of Farmers & Merchants Bancorp at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Versant Capital Management Inc grew its holdings 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 valued at $25,000 after acquiring an additional 341 shares in the last quarter. Royal Bank of Canada raised its holdings in Farmers & Merchants Bancorp by 124.6% during the fourth quarter. Royal Bank of Canada now owns 1,159 shares of the financial services provider's stock worth $28,000 after acquiring an additional 643 shares in the last quarter. CANADA LIFE ASSURANCE Co acquired a new position in Farmers & Merchants Bancorp during the fourth quarter valued at approximately $34,000. BNP Paribas Financial Markets grew its stake in Farmers & Merchants Bancorp by 36.0% in the second 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 in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in 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. 23.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. 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. Zacks Research raised shares of Farmers & Merchants Bancorp from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of Farmers & Merchants Bancorp from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Finally, Piper Sandler reissued a "neutral" rating and set a $36.00 price target (up from $32.00) on shares of Farmers & Merchants Bancorp in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $32.25.

Farmers & Merchants Bancorp Trading Down 0.2%

Shares of NASDAQ:FMAO opened at $33.89 on Wednesday. Farmers & Merchants Bancorp Inc. has a 12-month low of $22.77 and a 12-month high of $35.94. The stock has a market cap of $466.77 million, a PE ratio of 11.65 and a beta of 0.80. The business has a 50 day moving average of $32.45 and a 200-day moving average of $28.88. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.44.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.19. Farmers & Merchants Bancorp had a net margin of 20.27% and a return on equity of 10.72%. The company had revenue of $34.35 million during the quarter, compared to analysts' expectations of $33.05 million. As a group, equities research analysts forecast that Farmers & Merchants Bancorp Inc. will post 3.05 earnings per share for the current year.

Farmers & Merchants Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Friday, July 10th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, July 10th. Farmers & Merchants Bancorp's dividend payout ratio is presently 31.62%.

Insider Activity at Farmers & Merchants Bancorp

In other news, Director Andrew J. Briggs sold 6,000 shares of Farmers & Merchants Bancorp stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $28.72, for a total value of $172,320.00. Following the completion of the sale, the director directly owned 168,550 shares in the company, valued at approximately $4,840,756. The trade was a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 79,227 shares of company stock worth $2,470,552 over the last quarter. 7.30% of the stock is currently owned by company insiders.

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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