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

First Mid Bancshares, Inc. (NASDAQ:FMBH) announced 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 annualized dividend and a dividend yield of 2.54%. 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 25.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

NASDAQ FMBH traded up $0.22 during trading hours on Friday, hitting $37.84. 63,151 shares of the stock were exchanged, compared to its average volume of 51,536. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.41. The company 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 has a 12-month low of $28.86 and a 12-month high of $43.86. The stock has a 50-day moving average of $39.00 and a 200 day moving average of $38.67.

First Mid Bancshares (NASDAQ:FMBH) last issued its earnings results on Thursday, January 23rd. The bank reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. First Mid Bancshares had a return on equity of 10.38% and a net margin of 17.32%. As a group, equities research analysts forecast that First Mid Bancshares will post 3.42 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on FMBH. DA Davidson lowered shares of First Mid Bancshares from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $44.00 to $47.00 in a research report on Tuesday, November 12th. Stephens reissued an “equal weight” rating and set a $43.00 price objective on shares of First Mid Bancshares in a report on Friday. Piper Sandler upped their target price on shares of First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Keefe, Bruyette & Woods lifted their price target on shares of First Mid Bancshares from $42.00 to $45.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Insiders Place Their Bets

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 stock was purchased at an average cost of $39.87 per share, for a total transaction of $39,870.00. Following the transaction, the director now directly owns 4,050 shares of the company’s stock, valued at approximately $161,473.50. This trade represents a 32.79 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 7.70% of the stock is currently owned by company 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.