Empowered Funds LLC Buys Shares of 29,657 Farmers & Merchants Bancorp Inc. $FMAO

Empowered Funds LLC purchased a new position in Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 29,657 shares of the financial services provider’s stock, valued at approximately $907,000.

Other large investors have also recently made changes to their positions in the company. Bank of America Corp DE acquired a new position in Farmers & Merchants Bancorp in the 2nd quarter valued at $439,000. Man Group plc purchased a new stake in shares of Farmers & Merchants Bancorp during the second quarter worth $535,000. Legal & General Group Plc acquired a new stake in shares of Farmers & Merchants Bancorp in the second quarter valued at about $40,000. The Manufacturers Life Insurance Company purchased a new position in shares of Farmers & Merchants Bancorp in the second quarter worth about $8,843,000. Finally, Globeflex Capital L P purchased a new position in shares of Farmers & Merchants Bancorp in the second quarter worth about $181,000. 23.96% of the stock is currently owned by hedge funds and other institutional investors.

Farmers & Merchants Bancorp Price Performance

FMAO stock opened at $35.27 on Friday. Farmers & Merchants Bancorp Inc. has a 52-week low of $22.77 and a 52-week high of $35.94. 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 stock has a market cap of $485.77 million, a price-to-earnings ratio of 12.12 and a beta of 0.80. The business has a fifty day moving average of $32.75 and a two-hundred day moving average of $29.01.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last announced its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.67 by $0.19. The business had revenue of $34.35 million for the quarter, compared to analyst estimates of $33.05 million. Farmers & Merchants Bancorp had a return on equity of 10.72% and a net margin of 20.27%. As a group, research analysts anticipate that Farmers & Merchants Bancorp Inc. will post 3.05 earnings per share for the current year.

Farmers & Merchants Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Friday, July 10th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Friday, July 10th. Farmers & Merchants Bancorp’s dividend payout ratio (DPR) is 31.62%.

Insiders Place Their Bets

In other news, Director Andrew J. Briggs sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $28.72, for a total value of $172,320.00. Following the sale, the director directly owned 168,550 shares of the company’s stock, valued at approximately $4,840,756. The trade was a 3.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 76,227 shares of company stock worth $2,387,122 over the last ninety days. Company insiders own 7.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FMAO. Zacks Research raised shares of Farmers & Merchants Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. Piper Sandler reissued a “neutral” rating and issued a $36.00 target price (up from $32.00) on shares of Farmers & Merchants Bancorp in a research note on Wednesday, July 29th. Wall Street Zen cut Farmers & Merchants Bancorp from a “buy” rating to a “hold” rating in a report on Saturday. 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 analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.25.

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.