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

First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) announced a quarterly dividend on Thursday, October 31st, Zacks reports. Investors 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 annualized dividend and a yield of 2.54%. The ex-dividend date is Thursday, November 14th.

First Mid Bancshares has raised its dividend payment by an average of 4.3% annually over the last three years. First Mid Bancshares has a dividend payout ratio of 27.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Mid Bancshares to earn $3.53 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 27.2%.

First Mid Bancshares Stock Performance

FMBH stock traded down $0.34 on Friday, hitting $37.81. The company had a trading volume of 50,145 shares, compared to its average volume of 57,297. First Mid Bancshares has a 12-month low of $28.04 and a 12-month high of $41.02. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.48. The stock's 50-day simple moving average is $38.83 and its 200 day simple moving average is $35.53. The stock has a market cap of $904.04 million, a price-to-earnings ratio of 12.12 and a beta of 0.89.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The bank reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.05. The business had revenue of $79.19 million for the quarter, compared to analysts' expectations of $78.25 million. First Mid Bancshares had a net margin of 16.75% and a return on equity of 10.43%. As a group, equities research analysts expect that First Mid Bancshares will post 3.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on FMBH. Stephens lifted their price target on shares of First Mid Bancshares from $40.00 to $43.00 and gave the stock an "overweight" rating in a research note on Friday. Piper Sandler raised their price objective on shares of First Mid Bancshares from $46.00 to $47.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Keefe, Bruyette & Woods downgraded shares of First Mid Bancshares from an "outperform" rating to a "market perform" rating and set a $42.00 price objective on the stock. in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $41.00.

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.