Carnegie Investment Counsel Sells 6,089 Shares of Farmers & Merchants Bancorp Inc. $FMAO

Carnegie Investment Counsel decreased its holdings in Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO) by 39.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,541 shares of the financial services provider’s stock after selling 6,089 shares during the period. Carnegie Investment Counsel’s holdings in Farmers & Merchants Bancorp were worth $241,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Inspire Investing LLC increased its position in shares of Farmers & Merchants Bancorp by 6.2% during the second quarter. Inspire Investing LLC now owns 15,229 shares of the financial services provider’s stock worth $385,000 after purchasing an additional 885 shares in the last quarter. Revisor Wealth Management LLC purchased a new stake in Farmers & Merchants Bancorp in the first quarter valued at $278,000. Trust Co. of Toledo NA OH purchased a new stake in Farmers & Merchants Bancorp in the second quarter valued at $201,000. Nuveen LLC purchased a new stake in Farmers & Merchants Bancorp in the first quarter valued at $817,000. Finally, Ancora Advisors LLC acquired a new position in shares of Farmers & Merchants Bancorp in the first quarter worth about $909,000. 23.96% of the stock is owned by institutional investors and hedge funds.

Farmers & Merchants Bancorp Stock Performance

Farmers & Merchants Bancorp stock opened at $24.57 on Monday. The firm has a 50 day simple moving average of $25.46 and a 200-day simple moving average of $24.94. Farmers & Merchants Bancorp Inc. has a 1-year low of $20.88 and a 1-year high of $34.15. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $337.10 million, a price-to-earnings ratio of 11.38 and a beta of 0.88.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last posted its quarterly earnings results on Monday, July 28th. The financial services provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.05. Farmers & Merchants Bancorp had a net margin of 16.04% and a return on equity of 8.66%. The business had revenue of $29.65 million during the quarter, compared to analysts’ expectations of $28.67 million. On average, analysts expect that Farmers & Merchants Bancorp Inc. will post 1.82 EPS for the current year.

Farmers & Merchants Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 10th were given a dividend of $0.2275 per share. This represents a $0.91 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, October 10th. This is an increase from Farmers & Merchants Bancorp’s previous quarterly dividend of $0.22. Farmers & Merchants Bancorp’s dividend payout ratio is 42.13%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FMAO. Zacks Research downgraded shares of Farmers & Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Farmers & Merchants Bancorp in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Farmers & Merchants Bancorp Profile

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