First Mid Bancshares, Inc. (NASDAQ:FMBH) Announces $0.24 Quarterly Dividend

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

First Mid Bancshares has increased its dividend by an average of 3.4% per year over the last three years. First Mid Bancshares has a dividend payout ratio of 25.5% indicating that its dividend is sufficiently covered by earnings. Equities research 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 %

Shares of FMBH stock opened at $37.84 on Friday. The firm’s fifty day moving average price is $38.91 and its two-hundred day moving average price is $38.75. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.41. First Mid Bancshares has a 1 year low of $28.86 and a 1 year high of $43.86. 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 released its earnings results on Thursday, January 23rd. The bank reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. First Mid Bancshares had a return on equity of 10.38% and a net margin of 17.32%. On average, equities analysts predict that First Mid Bancshares will post 3.42 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director James Edwin Zimmer purchased 1,000 shares of the stock in a transaction on Thursday, December 19th. The shares were purchased at an average cost of $39.87 per share, with a total value of $39,870.00. Following the acquisition, the director now directly owns 4,050 shares in the company, valued at $161,473.50. The trade was a 32.79 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 7.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FMBH. Keefe, Bruyette & Woods increased their price objective on First Mid Bancshares from $42.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler increased their price target on shares of First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Stephens restated an “equal weight” rating and set a $43.00 price objective on shares of First Mid Bancshares in a research note on Friday. Finally, DA Davidson cut shares of First Mid Bancshares from a “buy” rating to a “neutral” rating and upped their target price for the company from $44.00 to $47.00 in a report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average 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.