Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) Announces Dividend Increase – $0.22 Per Share

by · The Markets Daily

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 paid 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 3.39%. 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 raised its dividend payment by an average of 8.8% annually over the last three years and has raised its dividend annually for the last 15 consecutive years. Farmers & Merchants Bancorp has a dividend payout ratio of 49.4% 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 $0.89 annual dividend with an expected future payout ratio of 49.7%.

Farmers & Merchants Bancorp Stock Down 0.4 %

Shares of Farmers & Merchants Bancorp stock opened at $26.06 on Thursday. The stock has a 50-day simple moving average of $26.37 and a 200-day simple moving average of $23.55. Farmers & Merchants Bancorp has a 52-week low of $16.90 and a 52-week high of $28.75. The firm has a market cap of $356.55 million, a price-to-earnings ratio of 16.39 and a beta of 0.63. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.00 and a quick ratio of 1.00.

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

Analysts Set New Price Targets

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

View Our Latest Research Report on FMAO

Farmers & Merchants Bancorp Company Profile

(Get Free Report)

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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