Farmers & Merchants Bancorp Inc. (FMAO) To Go Ex-Dividend on October 9th

Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO) announced a special dividend on Tuesday, September 29th. Investors of record on Friday, October 9th will be paid a dividend of $0.01 per share by the financial services provider on Tuesday, October 20th. The ex-dividend date of this dividend is Friday, October 9th.

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 payout ratio of 40.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Farmers & Merchants Bancorp to earn $3.18 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 28.9%.

Farmers & Merchants Bancorp Price Performance

FMAO opened at $34.62 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.44. The company has a market cap of $476.72 million, a price-to-earnings ratio of 11.90 and a beta of 0.80. The stock has a fifty day simple moving average of $34.47 and a two-hundred day simple moving average of $30.12. Farmers & Merchants Bancorp has a 12-month low of $22.77 and a 12-month high of $36.12.

Farmers & Merchants Bancorp (NASDAQ:FMAO) last announced its earnings results on Monday, July 27th. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.19. The firm had revenue of $34.35 million for the quarter, compared to analysts’ expectations of $33.05 million. Farmers & Merchants Bancorp had a net margin of 20.27% and a return on equity of 10.72%. Research analysts predict that Farmers & Merchants Bancorp will post 3.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

FMAO has been the topic of a number of recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Farmers & Merchants Bancorp in a report on Monday, September 14th. Zacks Research lowered shares of Farmers & Merchants Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Piper Sandler reissued a “neutral” rating and issued a $36.00 price target (up from $32.00) on shares of Farmers & Merchants Bancorp in a research report on Wednesday, July 29th. Finally, Wall Street Zen downgraded Farmers & Merchants Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, September 5th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.25.

About Farmers & Merchants Bancorp

Farmers & Merchants Bancorp, Inc is a bank holding company headquartered in Archbold, Ohio. Its principal subsidiary, Farmers & Merchants Bank, is a community bank that provides financial services to individuals, families, farmers, and businesses.

The bank offers deposit accounts, residential and commercial real estate lending, consumer loans, agricultural financing, commercial loans, and other credit products. It also provides online and mobile banking, treasury management, trust and investment services, and other financial solutions designed to support personal and business banking needs.

Farmers & Merchants Bank traces its history to 1897 and serves communities primarily in northwest Ohio and southeast Michigan through its branch network and digital banking channels.