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

First Mid Bancshares, Inc. (NASDAQ:FMBH) announced a quarterly dividend on Thursday, October 31st, Zacks reports. Stockholders of record on Thursday, November 14th will be given a dividend of 0.24 per share by the bank on Friday, November 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, November 14th.

First Mid Bancshares has raised its dividend payment by an average of 4.3% annually over the last three years. First Mid Bancshares has a payout ratio of 27.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Mid Bancshares to earn $3.53 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 27.2%.

First Mid Bancshares Stock Performance

NASDAQ:FMBH traded up $0.43 during trading hours on Friday, hitting $38.58. 3,312 shares of the company traded hands, compared to its average volume of 57,076. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.48. First Mid Bancshares has a twelve month low of $28.04 and a twelve month high of $41.02. The firm has a 50-day moving average of $38.88 and a 200 day moving average of $35.47. The stock has a market capitalization of $922.45 million, a price-to-earnings ratio of 12.23 and a beta of 0.89.

First Mid Bancshares (NASDAQ:FMBH) last released its earnings results on Thursday, August 1st. The bank reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.05. First Mid Bancshares had a net margin of 16.75% and a return on equity of 10.43%. The business had revenue of $79.19 million during the quarter, compared to analysts’ expectations of $78.25 million. On average, analysts forecast that First Mid Bancshares will post 3.47 EPS for the current year.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods downgraded First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 price objective for the company. in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.20.

About First Mid Bancshares

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.