First Mid Bancshares, Inc. to Issue Quarterly Dividend of $0.24 (NASDAQ:FMBH)

First Mid Bancshares, Inc. (NASDAQ:FMBH) announced a quarterly dividend on Friday, January 24th,Wall Street Journal reports. Shareholders of record on Thursday, February 13th will be given a dividend of 0.24 per share by the bank on Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Thursday, February 13th.

First Mid Bancshares has raised its dividend payment by an average of 3.4% per year over the last three years. First Mid Bancshares has a payout ratio of 25.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Mid Bancshares to earn $3.45 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 27.8%.

First Mid Bancshares Stock Up 0.6 %

First Mid Bancshares stock opened at $37.84 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 0.91. First Mid Bancshares has a one year low of $28.86 and a one year high of $43.86. The company has a 50-day simple moving average of $38.91 and a 200-day simple moving average of $38.71. The firm has a market capitalization of $904.75 million, a P/E ratio of 11.64 and a beta of 0.93.

First Mid Bancshares (NASDAQ:FMBH) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.87 EPS for the quarter, beating the consensus estimate of $0.82 by $0.05. First Mid Bancshares had a net margin of 17.32% and a return on equity of 10.38%. As a group, equities analysts expect that First Mid Bancshares will post 3.42 earnings per share for the current year.

Insiders Place Their Bets

In other First Mid Bancshares news, Director James Edwin Zimmer bought 1,000 shares of First Mid Bancshares stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average cost of $39.87 per share, for a total transaction of $39,870.00. Following the completion of the acquisition, the director now owns 4,050 shares of the company’s stock, valued at approximately $161,473.50. This represents a 32.79 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 7.70% of the stock is owned by company insiders.

Analyst Ratings Changes

FMBH has been the subject of a number of analyst reports. Piper Sandler boosted their price target on First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods upped their price objective on shares of First Mid Bancshares from $42.00 to $45.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Stephens reissued an “equal weight” rating and set a $43.00 target price on shares of First Mid Bancshares in a research note on Friday. Finally, DA Davidson lowered shares of First Mid Bancshares from a “buy” rating to a “neutral” rating and upped their price target for the stock from $44.00 to $47.00 in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.50.

First Mid Bancshares Company Profile

First Mid Bancshares, Inc, a financial holding company, provides community banking products and services to commercial, retail, and agricultural customers in the United States. It accepts various deposit products, such as demand deposits, savings accounts, money market deposits, and time deposits. The company’s loan products include commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans, as well as construction and land development, 1-4 family residential properties, and multifamily residential properties loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.