First Mid Bancshares, Inc. to Issue Quarterly Dividend of $0.23 (NASDAQ:FMBH)

First Mid Bancshares, Inc. (NASDAQ:FMBH) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Wednesday, May 15th will be paid a dividend of 0.23 per share by the bank on Friday, May 31st. This represents a $0.92 annualized dividend and a yield of 2.92%. The ex-dividend date is Tuesday, May 14th.

First Mid Bancshares has increased its dividend payment by an average of 4.3% annually over the last three years. First Mid Bancshares has a dividend payout ratio of 27.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Mid Bancshares to earn $3.37 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 27.3%.

First Mid Bancshares Price Performance

NASDAQ FMBH traded up $0.14 during trading on Friday, hitting $31.52. 2,039 shares of the company’s stock were exchanged, compared to its average volume of 54,205. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. The company has a market cap of $753.01 million, a PE ratio of 10.12 and a beta of 0.87. First Mid Bancshares has a fifty-two week low of $21.77 and a fifty-two week high of $35.83. The stock’s 50 day moving average price is $30.74 and its two-hundred day moving average price is $31.07.

First Mid Bancshares (NASDAQ:FMBH) last issued its earnings results on Thursday, January 25th. The bank reported $0.94 EPS for the quarter, topping the consensus estimate of $0.83 by $0.11. The firm had revenue of $79.23 million during the quarter, compared to the consensus estimate of $77.10 million. First Mid Bancshares had a return on equity of 10.81% and a net margin of 17.01%. Research analysts expect that First Mid Bancshares will post 3.28 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Raymond James boosted their price target on First Mid Bancshares from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Stephens reduced their price target on First Mid Bancshares from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $36.50.

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.