Geode Capital Management LLC Purchases 4,318 Shares of Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO)

Geode Capital Management LLC lifted its stake in Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) by 1.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 289,674 shares of the financial services provider’s stock after buying an additional 4,318 shares during the period. Geode Capital Management LLC’s holdings in Farmers & Merchants Bancorp were worth $8,011,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Barclays PLC increased its position in shares of Farmers & Merchants Bancorp by 292.2% during the third quarter. Barclays PLC now owns 16,610 shares of the financial services provider’s stock valued at $460,000 after purchasing an additional 12,375 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Farmers & Merchants Bancorp by 11.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 118,170 shares of the financial services provider’s stock worth $2,744,000 after purchasing an additional 12,223 shares in the last quarter. State Street Corp raised its stake in shares of Farmers & Merchants Bancorp by 4.0% in the third quarter. State Street Corp now owns 241,043 shares of the financial services provider’s stock valued at $6,665,000 after acquiring an additional 9,306 shares during the last quarter. Buckingham Capital Management Inc. acquired a new position in Farmers & Merchants Bancorp in the third quarter worth $245,000. Finally, Trust Co. of Toledo NA OH acquired a new position in Farmers & Merchants Bancorp during the 3rd quarter worth about $220,000. 23.96% of the stock is currently owned by institutional investors and hedge funds.

Farmers & Merchants Bancorp Stock Down 3.7 %

NASDAQ FMAO opened at $28.35 on Friday. The stock has a market capitalization of $388.37 million, a P/E ratio of 16.68 and a beta of 0.68. Farmers & Merchants Bancorp, Inc. has a 52 week low of $18.99 and a 52 week high of $34.15. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a fifty day moving average of $30.94 and a 200-day moving average of $27.44.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.08. The business had revenue of $45.86 million for the quarter, compared to the consensus estimate of $24.93 million. Farmers & Merchants Bancorp had a net margin of 13.16% and a return on equity of 7.16%. On average, equities research analysts forecast that Farmers & Merchants Bancorp, Inc. will post 1.74 EPS for the current year.

Farmers & Merchants Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 20th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.2213 per share. This represents a $0.89 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Friday, December 27th. This is a boost from Farmers & Merchants Bancorp’s previous quarterly dividend of $0.22. Farmers & Merchants Bancorp’s payout ratio is 51.76%.

Farmers & Merchants Bancorp Profile

Farmers & Merchants Bancorp, Inc operates as the bank holding company for The Farmers & Merchants State Bank that provides commercial banking services to individuals and small businesses in Northwest Ohio and Northeast Indiana. The company offers checking, savings, and time deposit accounts; certificates of deposit; and custodial services for individual retirement and health savings accounts.