First Mid Bancshares (NASDAQ:FMBH) Releases Quarterly Earnings Results, Beats Expectations By $0.19 EPS

First Mid Bancshares (NASDAQ:FMBH) released its quarterly earnings data on Wednesday. The bank reported $1.14 EPS for the quarter, beating the consensus estimate of $0.95 by $0.19, FiscalAI reports. First Mid Bancshares had a return on equity of 10.86% and a net margin of 19.95%.The company had revenue of $98.54 million for the quarter, compared to analysts’ expectations of $96.45 million.

First Mid Bancshares Stock Performance

Shares of FMBH stock traded up $1.67 during trading hours on Friday, reaching $43.76. 12,984 shares of the company traded hands, compared to its average volume of 113,951. First Mid Bancshares has a 12-month low of $33.67 and a 12-month high of $44.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $1.16 billion, a P/E ratio of 11.02 and a beta of 0.82. The firm has a 50-day moving average price of $41.69 and a 200 day moving average price of $40.38.

First Mid Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, May 15th. First Mid Bancshares’s payout ratio is presently 26.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FMBH shares. Piper Sandler reaffirmed an “overweight” rating and set a $55.00 price objective on shares of First Mid Bancshares in a research report on Friday. Zacks Research cut First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. DA Davidson raised their target price on First Mid Bancshares from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Monday, February 2nd. Finally, Raymond James Financial reissued an “outperform” rating and issued a $48.00 target price on shares of First Mid Bancshares in a research report on Friday. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.50.

Insider Buying and Selling at First Mid Bancshares

In other news, EVP Bradley L. Beesley sold 6,000 shares of First Mid Bancshares stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $44.00, for a total transaction of $264,000.00. Following the transaction, the executive vice president directly owned 12,378 shares of the company’s stock, valued at $544,632. The trade was a 32.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of First Mid Bancshares by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,366,627 shares of the bank’s stock valued at $51,768,000 after buying an additional 44,319 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of First Mid Bancshares by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,044,098 shares of the bank’s stock valued at $40,720,000 after buying an additional 23,265 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of First Mid Bancshares by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 546,389 shares of the bank’s stock valued at $21,313,000 after buying an additional 12,484 shares in the last quarter. State Street Corp lifted its position in shares of First Mid Bancshares by 0.9% during the 4th quarter. State Street Corp now owns 530,875 shares of the bank’s stock valued at $20,704,000 after buying an additional 4,808 shares in the last quarter. Finally, GW&K Investment Management LLC lifted its position in shares of First Mid Bancshares by 7.3% during the 4th quarter. GW&K Investment Management LLC now owns 474,651 shares of the bank’s stock valued at $18,511,000 after buying an additional 32,301 shares in the last quarter. 47.57% of the stock is owned by hedge funds and other institutional investors.

About First Mid Bancshares

First Mid Bancshares, Inc (NASDAQ: FMBH), headquartered in Mattoon, Illinois, is a financial services holding company that offers a comprehensive suite of banking products and services through its main subsidiary, First Mid Bank & Trust. The company’s primary business activities include commercial and retail banking, mortgage origination and servicing, wealth management and trust administration, as well as treasury and cash management solutions.

Through its branch network, First Mid provides consumer deposit products such as checking and savings accounts, certificates of deposit and online banking services.