Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO) to Issue Quarterly Dividend of $0.23

Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO) declared a quarterly dividend on Tuesday, June 30th. Shareholders of record on Friday, July 10th will be given a dividend of 0.23 per share by the financial services provider on Monday, July 20th. This represents a c) annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, July 10th.

Farmers & Merchants Bancorp has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 19 years. Farmers & Merchants Bancorp has a payout ratio of 40.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Farmers & Merchants Bancorp to earn $3.01 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 30.6%.

Farmers & Merchants Bancorp Stock Up 0.1%

Shares of FMAO opened at $30.58 on Wednesday. The firm has a market capitalization of $421.09 million, a price-to-earnings ratio of 11.72 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.98 and a current ratio of 0.98. The business’s fifty day moving average price is $27.92 and its two-hundred day moving average price is $26.82. Farmers & Merchants Bancorp has a 52 week low of $22.77 and a 52 week high of $30.90.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $32.44 million during the quarter, compared to the consensus estimate of $32.54 million. Farmers & Merchants Bancorp had a return on equity of 9.85% and a net margin of 18.54%. On average, analysts predict that Farmers & Merchants Bancorp will post 2.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Farmers & Merchants Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. Piper Sandler reiterated a “neutral” rating and set a $32.00 target price (up from $28.50) on shares of Farmers & Merchants Bancorp in a research report on Thursday, June 25th. Finally, Hovde Group cut their price target on Farmers & Merchants Bancorp from $30.00 to $28.50 and set a “market perform” rating on the stock in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $30.25.

Farmers & Merchants Bancorp Company Profile

Farmers & Merchants Bancorp (NASDAQ:FMAO) is the bank holding company for Farmers & Merchants Bank of Central California, a community-focused institution headquartered in Los Banos, California. The bank traces its roots to 1916 and has grown to serve individuals, businesses and agricultural enterprises throughout the western San Joaquin Valley. Operating with a commitment to local decision-making, the company emphasizes personalized service and close ties to the communities in which it operates.

Through its banking subsidiary, Farmers & Merchants offers a comprehensive suite of financial products and services, including checking and savings accounts, certificates of deposit, online and mobile banking platforms, and merchant services.