First Mid Bancshares, Inc. (NASDAQ:FMBH) Shares Set to Pay Quarterly Dividend of $0.26

First Mid Bancshares, Inc. (NASDAQ:FMBH) declared a quarterly dividend on Thursday, October 29th. Investors of record on Monday, November 16th will be given a dividend of $0.26 per share by the bank on Tuesday, December 1st. This represents a $1.04 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, November 16th.

First Mid Bancshares has a dividend payout ratio of 26.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First Mid Bancshares to earn $4.99 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 20.8%.

First Mid Bancshares Price Performance

Shares of FMBH traded up $0.61 during mid-day trading on Thursday, hitting $51.13. The company’s stock had a trading volume of 154,931 shares, compared to its average volume of 129,017. The firm has a market capitalization of $1.36 billion, a P/E ratio of 12.69 and a beta of 0.80. First Mid Bancshares has a 1-year low of $34.15 and a 1-year high of $53.36. The firm has a 50-day simple moving average of $49.94 and a 200 day simple moving average of $45.94. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.03.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings results on Thursday, October 29th. The bank reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.12. The business had revenue of $107.43 million for the quarter, compared to analysts’ expectations of $108.47 million. First Mid Bancshares had a return on equity of 10.86% and a net margin of 19.76%. Analysts predict that First Mid Bancshares will post 4.74 EPS for the current fiscal year.

Institutional Investors Weigh In On First Mid Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its stake in shares of First Mid Bancshares by 36.0% during the third quarter. Nisa Investment Advisors LLC now owns 1,170 shares of the bank’s stock valued at $57,000 after buying an additional 310 shares during the period. Arizona State Retirement System boosted its position in First Mid Bancshares by 8.3% during the second quarter. Arizona State Retirement System now owns 6,428 shares of the bank’s stock worth $309,000 after acquiring an additional 495 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in First Mid Bancshares in the 2nd quarter worth approximately $31,000. USA Financial Formulas purchased a new stake in First Mid Bancshares in the 3rd quarter worth approximately $40,000. Finally, PNC Financial Services Group Inc. raised its holdings in First Mid Bancshares by 23.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,455 shares of the bank’s stock valued at $184,000 after acquiring an additional 848 shares during the last quarter. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

First Mid Bancshares Company Profile

First Mid Bancshares, Inc is a financial services holding company headquartered in Mattoon, Illinois. Through its principal subsidiary, First Mid Bank & Trust, N.A., the company provides banking and related financial services to individuals, families, farmers, businesses and governmental entities.

First Mid Bank & Trust offers deposit accounts, consumer and commercial lending, agricultural loans, mortgage services, treasury and cash-management services, online and mobile banking, and other traditional banking products.