Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO) Announces $0.23 Quarterly Dividend

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 dividend yield of 3.0%. The ex-dividend date is Friday, July 10th.

Farmers & Merchants Bancorp has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 19 consecutive years. Farmers & Merchants Bancorp has a dividend payout ratio of 40.7% meaning its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 0.1%

Shares of Farmers & Merchants Bancorp stock opened at $30.58 on Wednesday. The firm has a market cap of $421.09 million, a price-to-earnings ratio of 11.72 and a beta of 0.82. The business has a 50-day moving average price of $27.92 and a 200-day moving average price of $26.82. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.58. Farmers & Merchants Bancorp has a twelve month low of $22.77 and a twelve month high of $30.90.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FMAO shares. Hovde Group decreased their price objective on Farmers & Merchants Bancorp from $30.00 to $28.50 and set a “market perform” rating on the stock in a report on Friday, April 24th. Piper Sandler reissued a “neutral” rating and issued a $32.00 target price (up from $28.50) on shares of Farmers & Merchants Bancorp in a report on Thursday, June 25th. Finally, 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. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $30.25.

About Farmers & Merchants Bancorp

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.