Farmers & Merchants Bancorp Inc. Announces Quarterly Dividend of $0.23 (NASDAQ:FMAO)

Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO) declared a quarterly dividend on Tuesday, June 30th. Stockholders of record on Friday, July 10th will be given a dividend of 0.23 per share by the financial services provider on Monday, July 20th. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, July 10th.

Farmers & Merchants Bancorp has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 19 years. Farmers & Merchants Bancorp has a payout ratio of 40.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Farmers & Merchants Bancorp to earn $3.01 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 30.6%.

Farmers & Merchants Bancorp Stock Up 0.1%

NASDAQ:FMAO opened at $30.58 on Wednesday. The stock has a 50-day simple moving average of $27.92 and a 200 day simple moving average of $26.82. Farmers & Merchants Bancorp has a 52-week low of $22.77 and a 52-week high of $30.90. The company has a market cap of $421.09 million, a PE ratio of 11.72 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.98 and a current ratio of 0.98.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $32.44 million for the quarter, compared to analysts’ expectations of $32.54 million. Farmers & Merchants Bancorp had a return on equity of 9.85% and a net margin of 18.54%. On average, sell-side analysts expect that Farmers & Merchants Bancorp will post 2.83 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on FMAO shares. Hovde Group lowered their price objective on shares of Farmers & Merchants Bancorp from $30.00 to $28.50 and set a “market perform” rating on the stock in a report on Friday, April 24th. Piper Sandler reaffirmed a “neutral” rating and issued a $32.00 target price (up from $28.50) on shares of Farmers & Merchants Bancorp in a research report on Thursday, June 25th. Finally, Weiss Ratings upgraded shares of Farmers & Merchants Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Farmers & Merchants Bancorp has an average rating of “Hold” and an average price target of $30.25.

Farmers & Merchants Bancorp Company Profile

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.