Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO – Get Free Report) declared a quarterly dividend on Tuesday, September 24th, Zacks reports. Shareholders 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 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Friday, October 4th. This is a boost from Farmers & Merchants Bancorp’s previous quarterly dividend of $0.22.
Farmers & Merchants Bancorp has increased its dividend by an average of 8.8% per year over the last three years and has raised its dividend every year for the last 14 years. Farmers & Merchants Bancorp has a payout ratio of 48.9% meaning its dividend is sufficiently covered by earnings. 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 traded up $0.33 on Thursday, reaching $27.70. 1,998 shares of the company’s stock were exchanged, compared to its average volume of 27,324. The business’s 50-day moving average is $26.26 and its two-hundred day moving average is $23.27. 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 has a fifty-two week low of $16.90 and a fifty-two week high of $28.75. The firm has a market capitalization of $378.94 million, a price-to-earnings ratio of 17.42 and a beta of 0.63.
Analysts Set New Price Targets
Separately, Piper Sandler boosted their target price on shares of Farmers & Merchants Bancorp from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, August 5th.
Read Our Latest Research Report on FMAO
About Farmers & Merchants Bancorp
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.
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