Segall Bryant & Hamill LLC Makes New $1.32 Million Investment in Farmers & Merchants Bancorp Inc. $FMAO

Key Points

• Segall Bryant & Hamill LLC acquired a new $1.32 million stake in Farmers & Merchants Bancorp, purchasing 51,374 shares and holding approximately 0.37% of the company. Institutional investors collectively own 23.96% of FMAO.
• Farmers & Merchants Bancorp reported quarterly EPS of $0.86, exceeding the $0.67 consensus estimate, while revenue of $34.35 million also topped expectations. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $32.25.
• The company declared a quarterly dividend of $0.23 per share, equivalent to an annualized $0.92 dividend and a 2.7% yield. Meanwhile, insiders sold 81,825 shares worth $2.4 million over the past 90 days.

Segall Bryant & Hamill LLC acquired a new stake in Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 51,374 shares of the financial services provider's stock, valued at approximately $1,319,000. Segall Bryant & Hamill LLC owned 0.37% of Farmers & Merchants Bancorp at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Bank of America Corp DE raised its stake in shares of Farmers & Merchants Bancorp by 15.6% during the 1st quarter. Bank of America Corp DE now owns 17,246 shares of the financial services provider's stock worth $443,000 after purchasing an additional 2,326 shares during the period. Rhino Investment Partners Inc purchased a new stake in Farmers & Merchants Bancorp during the first quarter worth about $1,765,000. Quantinno Capital Management LP increased its holdings in Farmers & Merchants Bancorp by 37.0% during the first quarter. Quantinno Capital Management LP now owns 38,041 shares of the financial services provider's stock worth $977,000 after buying an additional 10,279 shares during the last quarter. Walleye Capital LLC purchased a new stake in Farmers & Merchants Bancorp during the first quarter worth about $204,000. Finally, Globeflex Capital L P bought a new stake in Farmers & Merchants Bancorp in the first quarter worth about $152,000. 23.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FMAO has been the subject of a number of research reports. Weiss Ratings raised shares of Farmers & Merchants Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report 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. Hovde Group lowered their price target on shares of Farmers & Merchants Bancorp from $30.00 to $28.50 and set a "market perform" rating on the stock in a report 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. Finally, Piper Sandler reissued 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 investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Farmers & Merchants Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $32.25.

Insider Activity at Farmers & Merchants Bancorp

In related news, Director Andrew J. Briggs sold 6,000 shares of the company's 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 transaction, the director directly owned 168,550 shares in the company, valued at approximately $4,840,756. This represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 81,825 shares of company stock worth $2,401,542 over the last ninety days. 7.30% of the stock is currently owned by insiders.

Farmers & Merchants Bancorp Trading Down 1.8%

Farmers & Merchants Bancorp stock opened at $34.16 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.96 and a current ratio of 0.96. Farmers & Merchants Bancorp Inc. has a fifty-two week low of $22.77 and a fifty-two week high of $35.94. The stock has a market cap of $470.38 million, a P/E ratio of 11.74 and a beta of 0.80. The firm's fifty day moving average price is $30.15 and its 200-day moving average price is $27.86.

Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.19. The company had revenue of $34.35 million during the quarter, compared to analyst estimates of $33.05 million. Farmers & Merchants Bancorp had a return on equity of 10.72% and a net margin of 20.27%. Equities research analysts forecast 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 declared a quarterly dividend, which was paid on Monday, July 20th. Stockholders 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 (DPR) is 31.62%.

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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