Farmers & Merchants Bancorp (NASDAQ:FMAO) Issues Quarterly Earnings Results

Farmers & Merchants Bancorp (NASDAQ:FMAO) released its quarterly earnings data on Monday. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.19, FiscalAI reports. The company had revenue of $34.35 million for the quarter, compared to analysts’ expectations of $33.05 million. Farmers & Merchants Bancorp had a net margin of 18.54% and a return on equity of 9.85%.

Farmers & Merchants Bancorp Stock Performance

Farmers & Merchants Bancorp stock traded up $0.25 during midday trading on Monday, hitting $31.20. 57,484 shares of the company’s stock were exchanged, compared to its average volume of 63,705. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $429.56 million, a price-to-earnings ratio of 11.95 and a beta of 0.81. Farmers & Merchants Bancorp has a 12-month low of $22.77 and a 12-month high of $32.00. The firm’s 50 day simple moving average is $29.17 and its 200 day simple moving average is $27.37.

Farmers & Merchants Bancorp Dividend Announcement

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

Insider Activity at Farmers & Merchants Bancorp

In other news, Director Andrew J. Briggs sold 3,000 shares of the stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $29.52, for a total transaction of $88,560.00. Following the completion of the sale, the director owned 129,550 shares in the company, valued at approximately $3,824,316. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 66,825 shares of company stock valued at $1,905,432 over the last three months. 7.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Farmers & Merchants Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in FMAO. Vanguard Group Inc. lifted its position in Farmers & Merchants Bancorp by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 682,608 shares of the financial services provider’s stock worth $17,072,000 after acquiring an additional 4,979 shares during the period. Geode Capital Management LLC increased its holdings in shares of Farmers & Merchants Bancorp by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 301,252 shares of the financial services provider’s stock valued at $7,448,000 after purchasing an additional 2,402 shares during the period. Align Financial LLC acquired a new position in shares of Farmers & Merchants Bancorp in the fourth quarter valued at approximately $6,844,000. Dimensional Fund Advisors LP raised its stake in shares of Farmers & Merchants Bancorp by 6.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 214,561 shares of the financial services provider’s stock worth $5,304,000 after purchasing an additional 12,677 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Farmers & Merchants Bancorp by 67.6% during the fourth quarter. Marshall Wace LLP now owns 37,696 shares of the financial services provider’s stock worth $932,000 after purchasing an additional 15,211 shares during the last quarter. 23.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FMAO. Weiss Ratings upgraded 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 reissued a “neutral” rating and issued a $32.00 target price (up from $28.50) on shares of Farmers & Merchants Bancorp in a research report on Thursday, June 25th. Finally, Hovde Group dropped their price target on 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. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Farmers & Merchants Bancorp currently has a consensus rating of “Hold” and an average target price of $30.25.

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.