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

First Mid Bancshares, Inc. (NASDAQ:FMBH) declared a quarterly dividend on Tuesday, January 21st,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 2.50%. The ex-dividend date of this dividend is Thursday, February 13th.

First Mid Bancshares has raised its dividend payment by an average of 3.4% per year over the last three years. First Mid Bancshares has a dividend payout ratio of 25.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Mid Bancshares to earn $3.80 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 25.3%.

First Mid Bancshares Stock Up 0.0 %

Shares of First Mid Bancshares stock opened at $38.35 on Tuesday. The company has a market cap of $916.95 million, a price-to-earnings ratio of 11.66 and a beta of 0.93. The company’s 50 day moving average is $38.09 and its 200 day moving average is $38.86. First Mid Bancshares has a twelve month low of $28.86 and a twelve month high of $43.86. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.41.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly 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 net margin of 17.39% and a return on equity of 10.10%. Research analysts anticipate that First Mid Bancshares will post 3.58 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on FMBH. DA Davidson cut shares of First Mid Bancshares from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $44.00 to $47.00 in a research report on Tuesday, November 12th. Piper Sandler upped their price target on shares of First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Stephens restated an “equal weight” rating and set a $43.00 price target on shares of First Mid Bancshares in a research note on Friday, January 24th. Finally, Keefe, Bruyette & Woods increased their price target on shares of First Mid Bancshares from $42.00 to $45.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $43.40.

Insider Activity at First Mid Bancshares

In other First Mid Bancshares news, Director James Edwin Zimmer bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average price of $39.87 per share, with a total value of $39,870.00. Following the transaction, the director now owns 4,050 shares in the company, valued at $161,473.50. This trade represents a 32.79 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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.