Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO – Get Free Report) announced 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 yield of 3.19%. The ex-dividend date of this dividend is Friday, October 4th. This is a positive change 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 dividend payout ratio of 48.9% meaning its dividend is sufficiently covered by earnings. Equities 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 FMAO traded up $0.33 during midday trading on Thursday, reaching $27.70. 873 shares of the stock were exchanged, compared to its average volume of 27,318. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.82. The stock’s 50 day simple moving average is $26.26 and its 200 day simple moving average is $23.27. Farmers & Merchants Bancorp has a twelve month low of $16.90 and a twelve month high of $28.75. The company has a market cap of $378.94 million, a P/E ratio of 17.21 and a beta of 0.63.
Analyst Upgrades and Downgrades
Separately, Piper Sandler boosted their target price on shares of Farmers & Merchants Bancorp from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th.
Read Our Latest Stock Analysis 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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