First Mid Bancshares (NASDAQ:FMBH) Issues Earnings Results

First Mid Bancshares (NASDAQ:FMBH) released its quarterly earnings results on Thursday. The bank reported $0.87 EPS for the quarter, beating the consensus estimate of $0.82 by $0.05, Zacks reports. First Mid Bancshares had a net margin of 17.32% and a return on equity of 10.38%.

First Mid Bancshares Price Performance

FMBH opened at $36.88 on Friday. The company has a fifty day simple moving average of $39.00 and a 200 day simple moving average of $38.67. First Mid Bancshares has a twelve month low of $28.86 and a twelve month high of $43.86. The firm has a market cap of $881.78 million, a price-to-earnings ratio of 11.45 and a beta of 0.93. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.60%. First Mid Bancshares’s dividend payout ratio (DPR) is 29.54%.

Analysts Set New Price Targets

Several analysts have recently weighed in on FMBH shares. Keefe, Bruyette & Woods lifted their target price on shares of First Mid Bancshares from $42.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. DA Davidson cut 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 report on Tuesday, November 12th. Piper Sandler upped their target price on First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Stephens cut shares of First Mid Bancshares from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Insider Activity at First Mid Bancshares

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

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.