Andrew Briggs Sells 3,000 Shares of Farmers & Merchants Bancorp (NASDAQ:FMAO) Stock

Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO) Director Andrew Briggs sold 3,000 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $30.67, for a total transaction of $92,010.00. Following the completion of the transaction, the director directly owned 141,550 shares of the company’s stock, valued at approximately $4,341,338.50. This represents a 2.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Farmers & Merchants Bancorp Price Performance

FMAO opened at $30.30 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $417.23 million, a P/E ratio of 11.61 and a beta of 0.81. The company’s 50 day simple moving average is $28.32 and its 200-day simple moving average is $26.94. Farmers & Merchants Bancorp Inc. has a one year low of $22.77 and a one year high of $32.00.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. Farmers & Merchants Bancorp had a net margin of 18.54% and a return on equity of 9.85%. The firm had revenue of $32.44 million during the quarter, compared to analysts’ expectations of $32.54 million. Sell-side analysts anticipate that Farmers & Merchants Bancorp Inc. will post 2.83 earnings per share for the current fiscal year.

Farmers & Merchants Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Friday, July 10th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, July 10th. Farmers & Merchants Bancorp’s dividend payout ratio is 35.25%.

Hedge Funds Weigh In On Farmers & Merchants Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Goelzer Investment Management Inc. raised its stake in Farmers & Merchants Bancorp by 1,659.8% during the 4th quarter. Goelzer Investment Management Inc. now owns 485,064 shares of the financial services provider’s stock worth $11,991,000 after buying an additional 457,500 shares during the period. Focus Partners Advisor Solutions LLC acquired a new position in Farmers & Merchants Bancorp in the third quarter valued at about $223,000. Bank of America Corp DE increased its holdings in shares of Farmers & Merchants Bancorp by 15.6% in the first quarter. Bank of America Corp DE now owns 17,246 shares of the financial services provider’s stock worth $443,000 after acquiring an additional 2,326 shares in the last quarter. Quantinno Capital Management LP raised its position in shares of 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 purchasing an additional 10,279 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of Farmers & Merchants Bancorp by 72.2% during the 2nd quarter. Versant Capital Management Inc now owns 813 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 341 shares in the last quarter. Institutional investors and hedge funds own 23.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FMAO. Piper Sandler reissued a “neutral” rating and set a $32.00 price objective (up from $28.50) on shares of Farmers & Merchants Bancorp in a report on Thursday, June 25th. Hovde Group reduced their target price on shares of Farmers & Merchants Bancorp from $30.00 to $28.50 and set a “market perform” rating on the stock in a research note on Friday, April 24th. Finally, 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. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Farmers & Merchants Bancorp presently has a consensus rating of “Hold” and an average price target of $30.25.

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.