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 annualized dividend and a yield of 3.39%. The ex-dividend date 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 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 Performance
FMAO opened at $26.06 on Thursday. The business has a fifty day simple moving average of $26.37 and a 200-day simple moving average of $23.55. The firm has a market cap of $356.55 million, a PE ratio of 16.39 and a beta of 0.63. 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.
Wall Street Analysts Forecast Growth
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.
View Our Latest Stock Report on Farmers & Merchants Bancorp
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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