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

First Mid Bancshares, Inc. (NASDAQ:FMBH) declared a quarterly dividend on Thursday, October 31st, Zacks reports. Investors of record on Thursday, November 14th will be given a dividend of 0.24 per share by the bank on Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, November 14th.

First Mid Bancshares has raised its dividend by an average of 4.3% per year over the last three years. First Mid Bancshares has a payout ratio of 27.1% indicating that its dividend is sufficiently covered by earnings. Equities 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

Shares of First Mid Bancshares stock traded up $0.43 during trading hours on Friday, reaching $38.58. The company’s stock had a trading volume of 5,145 shares, compared to its average volume of 57,085. The stock has a market cap of $922.45 million, a P/E ratio of 12.37 and a beta of 0.89. The company’s 50 day simple moving average is $38.88 and its 200 day simple moving average is $35.47. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.91 and a current ratio of 0.91. First Mid Bancshares has a one year low of $28.04 and a one year high of $41.02.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings results on Thursday, August 1st. The bank reported $0.84 EPS for the quarter, topping the consensus estimate of $0.79 by $0.05. The business had revenue of $79.19 million during the quarter, compared to analyst estimates 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, analysts expect that First Mid Bancshares will post 3.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on FMBH shares. Piper Sandler raised their price target on shares of First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday. Keefe, Bruyette & Woods lowered First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 price target for the company. in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $40.00.

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.