Farmers & Merchants Bancorp (NASDAQ:FMAO) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Farmers & Merchants Bancorp (NASDAQ:FMAO) posted its earnings results on Wednesday. The financial services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02, Zacks reports. Farmers & Merchants Bancorp had a return on equity of 9.33% and a net margin of 17.47%.

Farmers & Merchants Bancorp Price Performance

Shares of FMAO traded down $0.08 during midday trading on Wednesday, reaching $26.75. The stock had a trading volume of 86,224 shares, compared to its average volume of 37,694. The company’s 50-day moving average is $26.29 and its 200 day moving average is $25.63. Farmers & Merchants Bancorp has a 12-month low of $22.46 and a 12-month high of $29.83. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $389.48 million, a price-to-earnings ratio of 11.05 and a beta of 0.81.

Farmers & Merchants Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 20th. Stockholders of record on Friday, April 3rd were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Thursday, April 2nd. Farmers & Merchants Bancorp’s dividend payout ratio is presently 38.02%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FMAO shares. Piper Sandler started coverage on Farmers & Merchants Bancorp in a research report on Thursday, April 2nd. They set a “neutral” rating and a $28.00 target price for the company. Zacks Research cut Farmers & Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Finally, Weiss Ratings upgraded Farmers & Merchants Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 6th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $28.00.

Insider Activity

In other news, insider Eric D. Faust sold 1,148 shares of the company’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $25.16, for a total value of $28,883.68. Following the completion of the transaction, the insider directly owned 5,538 shares in the company, valued at approximately $139,336.08. This represents a 17.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Farmers & Merchants Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. boosted its holdings in shares of Farmers & Merchants Bancorp by 5.8% in the 4th quarter. Invesco Ltd. now owns 14,887 shares of the financial services provider’s stock worth $368,000 after purchasing an additional 817 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Farmers & Merchants Bancorp by 10.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,879 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 911 shares during the period. Millennium Management LLC boosted its holdings in Farmers & Merchants Bancorp by 32.7% during the 4th quarter. Millennium Management LLC now owns 33,820 shares of the financial services provider’s stock valued at $836,000 after acquiring an additional 8,337 shares during the period. First Manhattan CO. LLC. purchased a new stake in Farmers & Merchants Bancorp during the 4th quarter valued at about $240,000. Finally, Align Financial LLC purchased a new stake in Farmers & Merchants Bancorp during the 4th quarter valued at about $6,844,000. 23.96% of the stock is currently owned by hedge funds and other institutional investors.

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.