First Mid Bancshares, Inc. (NASDAQ:FMBH) Forecasted to Post Q2 2024 Earnings of $0.80 Per Share

First Mid Bancshares, Inc. (NASDAQ:FMBH) – Research analysts at DA Davidson issued their Q2 2024 earnings estimates for First Mid Bancshares in a research report issued on Tuesday, April 30th. DA Davidson analyst J. Rulis expects that the bank will post earnings per share of $0.80 for the quarter. The consensus estimate for First Mid Bancshares’ current full-year earnings is $3.29 per share. DA Davidson also issued estimates for First Mid Bancshares’ FY2025 earnings at $3.50 EPS.

Other equities research analysts have also recently issued research reports about the stock. Stephens reduced their target price on shares of First Mid Bancshares from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Piper Sandler cut their price target on First Mid Bancshares from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Monday. Finally, Raymond James lifted their price objective on First Mid Bancshares from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. 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, First Mid Bancshares has an average rating of “Moderate Buy” and a consensus target price of $37.00.

First Mid Bancshares Stock Performance

NASDAQ FMBH opened at $32.29 on Wednesday. The company’s fifty day moving average is $30.78 and its two-hundred day moving average is $31.21. First Mid Bancshares has a 52-week low of $21.77 and a 52-week high of $35.83. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $771.41 million, a price-to-earnings ratio of 10.42 and a beta of 0.87.

First Mid Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.92 dividend on an annualized basis and a yield of 2.85%. First Mid Bancshares’s payout ratio is currently 29.68%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FMBH. BNP Paribas Financial Markets grew its stake in shares of First Mid Bancshares by 84.7% in the 1st quarter. BNP Paribas Financial Markets now owns 10,774 shares of the bank’s stock valued at $352,000 after purchasing an additional 4,941 shares during the period. ICA Group Wealth Management LLC bought a new stake in First Mid Bancshares in the fourth quarter valued at $25,000. Wellington Management Group LLP raised its stake in First Mid Bancshares by 5.9% during the fourth quarter. Wellington Management Group LLP now owns 294,666 shares of the bank’s stock worth $10,213,000 after acquiring an additional 16,388 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in First Mid Bancshares by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 678,953 shares of the bank’s stock worth $23,533,000 after acquiring an additional 34,401 shares in the last quarter. Finally, Jump Financial LLC bought a new position in shares of First Mid Bancshares during the fourth quarter valued at $252,000. Institutional investors and hedge funds own 47.57% of the company’s stock.

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.