Farmers & Merchants Bancorp, Inc. (FMAO) to Issue Quarterly Dividend of $0.22 on October 20th

Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) declared a quarterly dividend on Tuesday, September 24th, Zacks reports. Investors of record on Friday, October 4th will be given a dividend of 0.221 per share by the financial services provider on Sunday, October 20th. This represents a $0.88 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Friday, October 4th. This is an increase from Farmers & Merchants Bancorp’s previous quarterly dividend of $0.22.

Farmers & Merchants Bancorp has increased its dividend payment by an average of 8.8% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Farmers & Merchants Bancorp has a payout ratio of 48.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Farmers & Merchants Bancorp to earn $1.79 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 49.2%.

Farmers & Merchants Bancorp Stock Performance

Shares of NASDAQ FMAO opened at $26.16 on Wednesday. Farmers & Merchants Bancorp has a 12 month low of $16.90 and a 12 month high of $28.75. The company has a market cap of $357.92 million, a P/E ratio of 16.45 and a beta of 0.63. The business’s 50 day moving average is $26.39 and its two-hundred day moving average is $23.53. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.82.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last released its earnings results on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.37 by $0.05. Farmers & Merchants Bancorp had a net margin of 12.59% and a return on equity of 6.79%. The firm had revenue of $44.83 million during the quarter, compared to analysts’ expectations of $24.39 million. On average, equities analysts expect that Farmers & Merchants Bancorp will post 1.59 EPS for the current year.

Analysts Set New Price Targets

Separately, Piper Sandler boosted their price target on Farmers & Merchants Bancorp from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, August 5th.

Farmers & Merchants Bancorp Company 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.