Farmers & Merchants Bancorp, Inc. (OH) (NASDAQ:FMAO) declared a quarterly dividend on Monday, September 21st, Wall Street Journal reports. Shareholders of record on Tuesday, September 29th will be given a dividend of 0.17 per share by the financial services provider on Tuesday, October 20th. This represents a $0.68 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Monday, September 28th. This is an increase from Farmers & Merchants Bancorp, Inc. (OH)’s previous quarterly dividend of $0.16.
Farmers & Merchants Bancorp, Inc. (OH) has increased its dividend payment by 34.1% over the last three years and has raised its dividend annually for the last 1 consecutive years. Farmers & Merchants Bancorp, Inc. (OH) has a dividend payout ratio of 41.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Farmers & Merchants Bancorp, Inc. (OH) to earn $1.73 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 39.3%.
NASDAQ:FMAO opened at $20.23 on Friday. Farmers & Merchants Bancorp, Inc. has a 1-year low of $17.40 and a 1-year high of $31.80. The business’s 50-day moving average price is $21.54 and its two-hundred day moving average price is $21.86. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $225.14 million, a price-to-earnings ratio of 12.57 and a beta of 0.17.
Several equities research analysts have issued reports on the company. Piper Sandler increased their price target on Farmers & Merchants Bancorp, Inc. (OH) from $22.00 to $23.50 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. ValuEngine downgraded Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Boenning Scattergood initiated coverage on Farmers & Merchants Bancorp, Inc. (OH) in a report on Thursday. They set a “neutral” rating for the company. Finally, Zacks Investment Research downgraded Farmers & Merchants Bancorp, Inc. (OH) from a “buy” rating to a “hold” rating in a report on Tuesday, September 22nd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $24.83.
In related news, CEO Lars B. Eller purchased 2,300 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was purchased at an average cost of $21.90 per share, for a total transaction of $50,370.00. 9.96% of the stock is owned by company insiders.
About Farmers & Merchants Bancorp, Inc. (OH)
Farmers & Merchants Bancorp, Inc operates as the bank holding company for The Farmers & Merchants State Bank that provides commercial banking, retail banking, and other financial products and services to individuals and small businesses in northwest Ohio and northeast Indiana. The company offers checking accounts; savings and time deposits, including certificates of deposit; and custodial services for individual retirement accounts and health savings accounts.
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