Farmers & Merchants Bancorp (NASDAQ:FMAO) Posts Earnings Results, Beats Expectations By $0.19 EPS

Farmers & Merchants Bancorp (NASDAQ:FMAO) issued its earnings results on Monday. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.19, FiscalAI reports. The firm had revenue of $34.35 million during the quarter, compared to analyst estimates 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 Up 0.8%

Shares of FMAO traded up $0.25 during midday trading on Monday, reaching $31.20. 57,284 shares of the stock were exchanged, compared to its average volume of 63,705. Farmers & Merchants Bancorp has a 52 week low of $22.77 and a 52 week high of $32.00. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $29.17 and its two-hundred day moving average is $27.37. The company has a market capitalization of $429.56 million, a P/E ratio of 11.95 and a beta of 0.81.

Farmers & Merchants Bancorp Announces Dividend

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

Wall Street Analyst Weigh In

FMAO has been the topic of several recent analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $32.00 price target (up from $28.50) on shares of Farmers & Merchants Bancorp in a research note on Thursday, June 25th. Hovde Group dropped 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 upgraded shares of Farmers & Merchants Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $30.25.

Insider Buying and Selling at Farmers & Merchants Bancorp

In related news, Director Andrew J. Briggs sold 3,000 shares of Farmers & Merchants Bancorp stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $29.52, for a total value of $88,560.00. Following the completion of the sale, the director directly owned 129,550 shares in the company, valued at $3,824,316. The trade was a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 66,825 shares of company stock valued at $1,905,432 in the last ninety days. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FMAO. Jane Street Group LLC bought a new stake in shares of Farmers & Merchants Bancorp in the 1st quarter valued at about $380,000. Franklin Resources Inc. bought a new position in shares of Farmers & Merchants Bancorp during the second quarter valued at approximately $210,000. Bridgeway Capital Management LLC boosted its stake in shares of Farmers & Merchants Bancorp by 2.1% during the second quarter. Bridgeway Capital Management LLC now owns 19,257 shares of the financial services provider’s stock valued at $487,000 after purchasing an additional 401 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Farmers & Merchants Bancorp by 36.0% during the second quarter. BNP Paribas Financial Markets now owns 1,924 shares of the financial services provider’s stock valued at $49,000 after buying an additional 509 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in Farmers & Merchants Bancorp by 948.7% during the second quarter. Tower Research Capital LLC TRC now owns 4,436 shares of the financial services provider’s stock valued at $112,000 after buying an additional 4,013 shares during the period. Hedge funds and other institutional investors 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.