Farmers & Merchants Bancorp (NASDAQ:FMAO) Announces Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Farmers & Merchants Bancorp (NASDAQ:FMAO) issued its quarterly earnings results on Monday. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.19, FiscalAI reports. Farmers & Merchants Bancorp had a net margin of 20.27% and a return on equity of 10.83%. The company had revenue of $34.35 million during the quarter, compared to the consensus estimate of $33.05 million.

Farmers & Merchants Bancorp Stock Performance

FMAO stock opened at $34.44 on Wednesday. The firm has a 50 day simple moving average of $29.39 and a 200 day simple moving average of $27.49. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.98 and a current ratio of 0.98. Farmers & Merchants Bancorp has a 52 week low of $22.77 and a 52 week high of $34.74. The stock has a market cap of $474.24 million, a P/E ratio of 11.84 and a beta of 0.81.

Farmers & Merchants Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Friday, July 10th were issued a $0.23 dividend. The ex-dividend date was Friday, July 10th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.7%. Farmers & Merchants Bancorp’s dividend payout ratio is currently 35.25%.

Analyst Upgrades and Downgrades

FMAO has been the subject of several research reports. Hovde Group reduced their price objective on Farmers & Merchants Bancorp from $30.00 to $28.50 and set a “market perform” rating for the company in a research note on Friday, April 24th. Piper Sandler reaffirmed a “neutral” rating and set a $32.00 target price (up from $28.50) on shares of Farmers & Merchants Bancorp in a report on Thursday, June 25th. Finally, Weiss Ratings upgraded Farmers & Merchants Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Farmers & Merchants Bancorp presently has a consensus rating of “Hold” and an average price target of $30.25.

Insider Buying and Selling

In other Farmers & Merchants Bancorp news, Director Andrew J. Briggs sold 6,000 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was 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 of the company’s stock, valued at $4,840,756. This represents a 3.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 69,825 shares of company stock valued at $1,996,842 in the last quarter. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FMAO. Align Financial LLC acquired a new stake in shares of Farmers & Merchants Bancorp in the 4th quarter valued at $6,844,000. Jane Street Group LLC lifted its position in shares of Farmers & Merchants Bancorp by 186.8% in the fourth quarter. Jane Street Group LLC now owns 15,762 shares of the financial services provider’s stock worth $390,000 after buying an additional 33,916 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Farmers & Merchants Bancorp during the 3rd quarter worth about $616,000. Marshall Wace LLP increased its holdings in shares of Farmers & Merchants Bancorp by 67.6% during the 4th quarter. Marshall Wace LLP now owns 37,696 shares of the financial services provider’s stock valued at $932,000 after acquiring an additional 15,211 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Farmers & Merchants Bancorp by 6.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 214,561 shares of the financial services provider’s stock valued at $5,304,000 after acquiring an additional 12,677 shares during the last quarter. Institutional investors and hedge funds own 23.96% of the company’s stock.

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.