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

First Mid Bancshares, Inc. (NASDAQ:FMBH) announced a quarterly dividend on Thursday, October 31st,Zacks Dividends reports. Stockholders of record on Thursday, November 14th will be paid a dividend of 0.24 per share by the bank on Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Thursday, November 14th.

First Mid Bancshares has increased its dividend by an average of 4.3% annually over the last three years. First Mid Bancshares has a payout ratio of 27.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Mid Bancshares to earn $3.42 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 28.1%.

First Mid Bancshares Stock Performance

Shares of FMBH opened at $43.01 on Wednesday. The company has a 50-day simple moving average of $38.96 and a two-hundred day simple moving average of $36.10. 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 firm has a market capitalization of $1.03 billion, a PE ratio of 13.05 and a beta of 0.89. First Mid Bancshares has a one year low of $28.86 and a one year high of $43.30.

Analyst Ratings Changes

Several brokerages have commented on FMBH. DA Davidson lowered First Mid Bancshares from a “buy” rating to a “neutral” rating and raised their price objective for the company from $44.00 to $47.00 in a research report on Tuesday. Stephens lifted their price target on shares of First Mid Bancshares from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Piper Sandler upped their price objective on shares of First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Keefe, Bruyette & Woods lowered shares of First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 target price for the company. in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $42.00.

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.