CoreCap Advisors LLC Acquires Shares of 2,111 Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO)

Posted by Defense World Staff on Jun 1st, 2023

CoreCap Advisors LLC acquired a new stake in Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO – Get Rating) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 2,111 shares of the financial services provider’s stock, valued at approximately $57,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in shares of Farmers & Merchants Bancorp by 1.1% in the 1st quarter. Bank of New York Mellon Corp now owns 28,250 shares of the financial services provider’s stock worth $1,021,000 after purchasing an additional 307 shares during the last quarter. UBS Group AG raised its stake in Farmers & Merchants Bancorp by 10.5% during the 2nd quarter. UBS Group AG now owns 3,613 shares of the financial services provider’s stock worth $120,000 after buying an additional 343 shares during the period. Northern Trust Corp raised its stake in Farmers & Merchants Bancorp by 2.6% during the 1st quarter. Northern Trust Corp now owns 19,802 shares of the financial services provider’s stock worth $716,000 after buying an additional 503 shares during the period. Tower Research Capital LLC TRC raised its stake in Farmers & Merchants Bancorp by 88.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,135 shares of the financial services provider’s stock worth $57,000 after buying an additional 1,000 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Farmers & Merchants Bancorp during the 3rd quarter worth $28,000. 22.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Stephens reaffirmed an “equal weight” rating and set a $29.00 price objective on shares of Farmers & Merchants Bancorp in a research note on Thursday, February 9th.

Farmers & Merchants Bancorp Stock Performance

Shares of Farmers & Merchants Bancorp stock opened at $19.89 on Thursday. The company has a market capitalization of $271.10 million, a PE ratio of 8.61 and a beta of 0.41. Farmers & Merchants Bancorp, Inc. has a 12 month low of $17.76 and a 12 month high of $42.13. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.64. The stock’s fifty day simple moving average is $21.95 and its 200 day simple moving average is $25.32.

Farmers & Merchants Bancorp (NASDAQ:FMAO – Get Rating) last released its quarterly earnings results on Wednesday, April 19th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.09). Farmers & Merchants Bancorp had a net margin of 24.42% and a return on equity of 11.18%. The firm had revenue of $25.86 million during the quarter, compared to analyst estimates of $26.40 million. On average, research analysts predict that Farmers & Merchants Bancorp, Inc. will post 1.89 EPS for the current year.

Farmers & Merchants Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 20th. Shareholders of record on Saturday, April 1st were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend was Thursday, March 30th. Farmers & Merchants Bancorp’s dividend payout ratio is 36.36%.

Farmers & Merchants Bancorp Profile

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Farmers & Merchants Bancorp, Inc operates as a bank holding company, which engages in the provision of commercial banking, retail banking, and financial services. It includes commercial, agricultural, and residential mortgage as well as consumer and credit card lending activities. The firm also offers checking account services, and savings and time deposit services.