First Mid Bancshares, Inc. (FMBH) to Issue Quarterly Dividend of $0.23 on May 31st

First Mid Bancshares, Inc. (NASDAQ:FMBH) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Wednesday, May 15th will be given a dividend of 0.23 per share by the bank on Friday, May 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Tuesday, May 14th.

First Mid Bancshares has increased its dividend payment by an average of 4.3% per year over the last three years. First Mid Bancshares has a dividend payout ratio of 27.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Mid Bancshares to earn $3.37 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 27.3%.

First Mid Bancshares Stock Down 0.2 %

NASDAQ:FMBH traded down $0.07 during trading hours on Friday, hitting $31.31. 2,889 shares of the company’s stock traded hands, compared to its average volume of 54,220. The firm has a market cap of $748.00 million, a P/E ratio of 10.12 and a beta of 0.87. First Mid Bancshares has a twelve month low of $21.77 and a twelve month high of $35.83. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 0.91. The stock’s fifty day moving average price is $30.74 and its two-hundred day moving average price is $31.07.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings results on Thursday, January 25th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.11. The company had revenue of $79.23 million during the quarter, compared to the consensus estimate of $77.10 million. First Mid Bancshares had a return on equity of 10.81% and a net margin of 17.01%. On average, research analysts expect that First Mid Bancshares will post 3.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on FMBH. Raymond James increased their price objective on First Mid Bancshares from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Stephens reduced their price target on First Mid Bancshares from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Tuesday, January 30th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, First Mid Bancshares has an average rating of “Moderate Buy” and an average target price of $36.50.

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.