First Mid Bancshares (NASDAQ:FMBH) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

First Mid Bancshares (NASDAQ:FMBH) released its earnings results on Thursday. The bank reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.05, Zacks reports. First Mid Bancshares had a return on equity of 10.38% and a net margin of 17.32%.

First Mid Bancshares Stock Performance

Shares of First Mid Bancshares stock opened at $36.88 on Friday. The business’s 50 day moving average price is $39.00 and its 200 day moving average price is $38.67. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $881.78 million, a price-to-earnings ratio of 11.45 and a beta of 0.93. First Mid Bancshares has a one year low of $28.86 and a one year high of $43.86.

First Mid Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were issued a $0.24 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.60%. First Mid Bancshares’s payout ratio is 29.54%.

Analyst Upgrades and Downgrades

FMBH has been the topic of several research reports. Stephens downgraded shares of First Mid Bancshares from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods increased their price target on 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. Piper Sandler raised their target price on First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, DA Davidson cut shares of First Mid Bancshares from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $44.00 to $47.00 in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.50.

Insider Buying and Selling at First Mid Bancshares

In other news, Director James Edwin Zimmer purchased 1,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were bought at an average cost of $39.87 per share, for a total transaction of $39,870.00. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 7.70% of the stock is currently owned by company 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.