Farmers & Merchants Bancorp (NASDAQ:FMAO) Reaches New 12-Month High Following Strong Earnings

Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO) hit a new 52-week high during trading on Friday following a better than expected earnings announcement. The company traded as high as $36.31 and last traded at $35.5520, with a volume of 139,813 shares trading hands. The stock had previously closed at $35.89.

The financial services provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.80 by $0.04. The business had revenue of $34.81 million during the quarter, compared to analyst estimates of $34.65 million. Farmers & Merchants Bancorp had a net margin of 20.27% and a return on equity of 10.72%.

Farmers & Merchants Bancorp Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Tuesday, October 20th. Stockholders of record on Friday, October 9th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, October 9th. Farmers & Merchants Bancorp’s dividend payout ratio (DPR) is currently 32.99%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FMAO shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Farmers & Merchants Bancorp in a research note on Monday, September 14th. Zacks Research lowered shares of Farmers & Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. Piper Sandler restated a “neutral” rating and issued a $36.00 price target (up from $32.00) on shares of Farmers & Merchants Bancorp in a research report on Wednesday, July 29th. Finally, Wall Street Zen cut shares of Farmers & Merchants Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, September 5th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $32.25.

Insider Transactions at Farmers & Merchants Bancorp

In other Farmers & Merchants Bancorp news, EVP David R. Gerken sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $33.72, for a total value of $33,720.00. Following the transaction, the executive vice president owned 6,509 shares in the company, valued at $219,483.48. The trade was a 13.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Andrew Briggs sold 2,402 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $35.05, for a total transaction of $84,190.10. Following the transaction, the director owned 49,148 shares in the company, valued at $1,722,637.40. This represents a 4.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,402 shares of company stock valued at $1,044,760 over the last 90 days. Corporate insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Farmers & Merchants Bancorp during the 2nd quarter valued at $33,241,000. The Manufacturers Life Insurance Company acquired a new position in Farmers & Merchants Bancorp during the 2nd quarter worth approximately $8,843,000. Dimensional Fund Advisors LP raised its holdings in Farmers & Merchants Bancorp by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 226,917 shares of the financial services provider’s stock worth $5,825,000 after acquiring an additional 12,356 shares in the last quarter. Rhino Investment Partners Inc acquired a new stake in shares of Farmers & Merchants Bancorp in the first quarter valued at approximately $1,765,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Farmers & Merchants Bancorp during the second quarter worth approximately $1,524,000. Institutional investors and hedge funds own 23.96% of the company’s stock.

Farmers & Merchants Bancorp Trading Up 0.7%

The firm has a 50 day moving average of $34.91 and a 200-day moving average of $31.25. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $497.51 million, a P/E ratio of 12.53 and a beta of 0.81.

Farmers & Merchants Bancorp Company Profile

Farmers & Merchants Bancorp, Inc is a bank holding company headquartered in Archbold, Ohio. Founded in 1897, the company operates through its principal subsidiary, The Farmers & Merchants State Bank, a community bank serving individuals, families, farmers and businesses.

The bank offers a range of traditional financial services, including checking and savings accounts, certificates of deposit, consumer and residential mortgage loans, commercial lending, agricultural loans and other business banking products.