Empowered Funds LLC Buys New Holdings in Farmers & Merchants Bancorp Inc. $FMAO

Key Points

• Empowered Funds LLC initiated a position of 29,657 Farmers & Merchants Bancorp shares worth approximately $907,000, while institutional investors collectively owned 23.96% of the company.
• Farmers & Merchants Bancorp beat quarterly earnings expectations, reporting EPS of $0.86 versus the $0.67 consensus and revenue of $34.35 million. The company also maintains a $0.23 quarterly dividend, yielding about 2.6% annually.
• Shares recently traded at $35.27, near their 52-week high, while analysts maintained an overall “Moderate Buy” consensus with a $32.25 target price. Insiders have sold 76,227 shares worth roughly $2.39 million over the past 90 days.

Empowered Funds LLC purchased a new position in Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 29,657 shares of the financial services provider's stock, valued at approximately $907,000. Empowered Funds LLC owned approximately 0.22% of Farmers & Merchants Bancorp at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Jane Street Group LLC purchased a new position in Farmers & Merchants Bancorp during the first quarter valued at $380,000. Franklin Resources Inc. purchased a new stake in shares of Farmers & Merchants Bancorp during the 2nd quarter worth approximately $210,000. Bridgeway Capital Management LLC grew its holdings in shares of Farmers & Merchants Bancorp by 2.1% in the second quarter. Bridgeway Capital Management LLC now owns 19,257 shares of the financial services provider's stock valued at $487,000 after purchasing an additional 401 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of 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 increased its position 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 worth $112,000 after purchasing an additional 4,013 shares during the last quarter. 23.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Andrew J. Briggs sold 6,000 shares of Farmers & Merchants Bancorp stock in a transaction 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 sale, the director owned 168,550 shares of the company's stock, valued at approximately $4,840,756. This trade represents a 3.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders sold 76,227 shares of company stock worth $2,387,122. Company insiders own 7.30% of the company's stock.

Farmers & Merchants Bancorp Trading Up 0.2%

Shares of NASDAQ:FMAO opened at $35.27 on Friday. The business's 50-day moving average is $32.75 and its 200 day moving average is $29.01. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.96 and a quick ratio of 0.96. Farmers & Merchants Bancorp Inc. has a 1 year low of $22.77 and a 1 year high of $35.94. The firm has a market capitalization of $485.77 million, a P/E ratio of 12.12 and a beta of 0.80.

Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) last issued its earnings results on Monday, July 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.19. Farmers & Merchants Bancorp had a return on equity of 10.72% and a net margin of 20.27%.The company had revenue of $34.35 million during the quarter, compared to analyst estimates of $33.05 million. On average, research analysts predict that Farmers & Merchants Bancorp Inc. will post 3.05 earnings per share for the current fiscal year.

Farmers & Merchants Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Friday, July 10th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend 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 is presently 31.62%.

Analyst Upgrades and Downgrades

FMAO has been the subject of a number of recent research reports. 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. Piper Sandler reaffirmed a "neutral" rating and issued a $36.00 price target (up from $32.00) on shares of Farmers & Merchants Bancorp in a report on Wednesday, July 29th. Wall Street Zen lowered Farmers & Merchants Bancorp from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Zacks Research raised Farmers & Merchants Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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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