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 Wednesday, July 1st. The shares were sold at an average price of $30.58, for a total value of $91,740.00. Following the completion of the transaction, the director directly owned 147,550 shares in the company, valued at $4,512,079. This represents a 1.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Farmers & Merchants Bancorp Trading Up 2.3%

NASDAQ FMAO traded up $0.71 during trading hours on Wednesday, hitting $31.30. 60,439 shares of the company’s stock were exchanged, compared to its average volume of 62,336. The stock has a 50-day simple moving average of $27.92 and a 200 day simple moving average of $26.82. Farmers & Merchants Bancorp Inc. has a 1-year low of $22.77 and a 1-year high of $31.44. The firm has a market cap of $430.93 million, a price-to-earnings ratio of 12.01 and a beta of 0.82. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.58.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last issued its earnings results on Wednesday, April 22nd. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Farmers & Merchants Bancorp had a return on equity of 9.85% and a net margin of 18.54%.The business had revenue of $32.44 million during the quarter, compared to the consensus estimate of $32.54 million. On average, equities analysts forecast that Farmers & Merchants Bancorp Inc. will post 2.83 EPS for the current fiscal year.

Farmers & Merchants Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Friday, July 10th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $0.92 annualized dividend and a dividend yield of 2.9%. Farmers & Merchants Bancorp’s dividend payout ratio (DPR) is 35.25%.

Hedge Funds Weigh In On Farmers & Merchants Bancorp

A number of hedge funds have recently bought and sold shares of the company. Goelzer Investment Management Inc. boosted its stake in shares of Farmers & Merchants Bancorp by 1,659.8% in 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 last quarter. Focus Partners Advisor Solutions LLC purchased a new position in Farmers & Merchants Bancorp in the third quarter worth $223,000. Bank of America Corp DE boosted its position in 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 purchasing an additional 2,326 shares during the last quarter. Rhino Investment Partners Inc bought a new position in Farmers & Merchants Bancorp in the 1st quarter valued at $1,765,000. Finally, Quantinno Capital Management LP grew its stake in Farmers & Merchants Bancorp by 37.0% in the 1st quarter. Quantinno Capital Management LP now owns 38,041 shares of the financial services provider’s stock valued at $977,000 after purchasing an additional 10,279 shares during the period. 23.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FMAO. Hovde Group cut 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. Piper Sandler reiterated 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. 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 Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Farmers & Merchants Bancorp has an average 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.