Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO – Get Free Report) announced a quarterly dividend on Tuesday, June 25th, Zacks reports. Investors of record on Friday, July 5th will be paid a dividend of 0.22 per share by the financial services provider on Saturday, July 20th. This represents a $0.88 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Friday, July 5th.
Farmers & Merchants Bancorp has raised its dividend by an average of 8.8% per year over the last three years and has increased its dividend every year for the last 14 years. Farmers & Merchants Bancorp has a dividend payout ratio of 49.4% indicating that 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 Up 2.1 %
Shares of NASDAQ FMAO opened at $22.89 on Wednesday. Farmers & Merchants Bancorp has a 1 year low of $16.90 and a 1 year high of $27.78. The firm’s 50-day moving average is $21.98 and its 200-day moving average is $21.96. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $313.07 million, a PE ratio of 14.39 and a beta of 0.65.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on FMAO shares. Piper Sandler reaffirmed a “neutral” rating and set a $24.00 price objective on shares of Farmers & Merchants Bancorp in a research note on Wednesday, June 12th. Hovde Group initiated coverage on Farmers & Merchants Bancorp in a research report on Friday, April 5th. They set a “market perform” rating and a $22.00 target price for the company.
Read Our Latest Report on Farmers & Merchants Bancorp
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.
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