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

First Mid Bancshares, Inc. (NASDAQ:FMBH) declared a quarterly dividend on Friday, January 24th,Wall Street Journal reports. Stockholders 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 dividend 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 25.8% 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 Trading Up 0.6 %

FMBH stock traded up $0.22 on Friday, hitting $37.84. 63,151 shares of the company were exchanged, compared to its average volume of 51,536. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $904.75 million, a price-to-earnings ratio of 11.64 and a beta of 0.93. First Mid Bancshares has a twelve month low of $28.86 and a twelve month high of $43.86. The business’s fifty day moving average is $39.00 and its two-hundred day moving average is $38.67.

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

Insider Buying and Selling at First Mid Bancshares

In other news, Director James Edwin Zimmer acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average cost of $39.87 per share, for a total transaction of $39,870.00. Following the transaction, the director now directly owns 4,050 shares in the company, valued at $161,473.50. This trade represents a 32.79 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FMBH. Piper Sandler increased their price objective on shares of First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. DA Davidson cut 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 report on Tuesday, November 12th. Stephens reissued an “equal weight” rating and issued a $43.00 price objective on shares of First Mid Bancshares in a research report on Friday. Finally, Keefe, Bruyette & Woods upped their target price on First Mid Bancshares from $42.00 to $45.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.