The Manufacturers Life Insurance Company Invests $8.84 Million in Farmers & Merchants Bancorp Inc. $FMAO

Key Points

• The Manufacturers Life Insurance Company acquired 289,178 shares of Farmers & Merchants Bancorp in the second quarter, valued at approximately $8.84 million and representing about 2.1% of the company. Institutional investors collectively own 23.96% of FMAO.
• Farmers & Merchants Bancorp exceeded quarterly expectations, reporting earnings per share of $0.86 versus the $0.67 consensus estimate and revenue of $34.35 million. The company also maintains a quarterly dividend of $0.23, equivalent to a 2.7% annualized yield.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $32.25. FMAO recently opened at $34.25, near its 12-month high of $35.94, while insiders have sold 85,227 shares over the past three months.

The Manufacturers Life Insurance Company acquired a new stake in Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 289,178 shares of the financial services provider's stock, valued at approximately $8,843,000. The Manufacturers Life Insurance Company owned about 2.10% of Farmers & Merchants Bancorp as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of FMAO. Globeflex Capital L P bought a new position in Farmers & Merchants Bancorp during the 2nd quarter worth approximately $181,000. Ieq Capital LLC acquired a new stake in shares of Farmers & Merchants Bancorp during the 2nd quarter valued at approximately $249,000. BlackRock Inc. acquired a new stake in shares of Farmers & Merchants Bancorp during the 2nd quarter valued at approximately $33,241,000. Deutsche Bank AG bought a new position in Farmers & Merchants Bancorp during the second quarter worth $404,000. Finally, Bank of New York Mellon Corp bought a new position in Farmers & Merchants Bancorp during the second quarter worth $1,524,000. Institutional investors and hedge funds own 23.96% of the company's stock.

Insider Transactions at Farmers & Merchants Bancorp

In other Farmers & Merchants Bancorp news, Director Andrew J. Briggs sold 6,000 shares of the business's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $28.72, for a total transaction of $172,320.00. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 85,227 shares of company stock valued at $2,636,752. Corporate insiders own 7.30% of the company's stock.

Analyst Ratings Changes

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

Farmers & Merchants Bancorp Stock Up 1.0%

FMAO opened at $34.25 on Friday. The stock's 50 day moving average price is $32.25 and its 200 day moving average price is $28.78. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $471.73 million, a P/E ratio of 11.77 and a beta of 0.80. Farmers & Merchants Bancorp Inc. has a 12 month low of $22.77 and a 12 month high of $35.94.

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 (EPS) for the quarter, topping analysts' consensus estimates 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%. As a group, research analysts predict that Farmers & Merchants Bancorp Inc. will post 3.05 earnings per share for the current year.

Farmers & Merchants Bancorp Announces Dividend

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

Farmers & Merchants Bancorp 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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