First Mid Bancshares, Inc. (FMBH) to Issue Quarterly Dividend of $0.24 on February 28th

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 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Thursday, February 13th.

First Mid Bancshares has raised its dividend payment by an average of 3.4% annually over the last three years. First Mid Bancshares has a dividend payout ratio of 25.5% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of FMBH stock opened at $37.84 on Friday. 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’s fifty day simple moving average is $38.91 and its 200 day simple moving average is $38.75. First Mid Bancshares has a one year low of $28.86 and a one year high of $43.86. The firm has a market cap of $904.75 million, a price-to-earnings ratio of 11.64 and a beta of 0.93.

First Mid Bancshares (NASDAQ:FMBH) last posted 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 net margin of 17.32% and a return on equity of 10.38%. On average, analysts expect that First Mid Bancshares will post 3.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Piper Sandler lifted their price target on First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods upped their target price on shares of 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. Stephens reissued an “equal weight” rating and set a $43.00 price target on shares of First Mid Bancshares in a research note on Friday. Finally, DA Davidson cut shares of First Mid Bancshares from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $44.00 to $47.00 in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, First Mid Bancshares presently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

Insider Activity at First Mid Bancshares

In related 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 acquired at an average cost of $39.87 per share, with a total value of $39,870.00. Following the transaction, the director now owns 4,050 shares of the company’s stock, valued at $161,473.50. The trade was a 32.79 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.70% of the stock is owned by corporate insiders.

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.