FY2024 Earnings Estimate for First Mid Bancshares, Inc. Issued By DA Davidson (NASDAQ:FMBH)

First Mid Bancshares, Inc. (NASDAQ:FMBH) – Investment analysts at DA Davidson raised their FY2024 earnings per share estimates for First Mid Bancshares in a report issued on Monday, August 5th. DA Davidson analyst J. Rulis now anticipates that the bank will post earnings of $3.50 per share for the year, up from their prior estimate of $3.35. The consensus estimate for First Mid Bancshares’ current full-year earnings is $3.23 per share. DA Davidson also issued estimates for First Mid Bancshares’ FY2025 earnings at $3.60 EPS.

A number of other analysts also recently issued reports on the company. Piper Sandler lowered their target price on First Mid Bancshares from $39.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Hovde Group assumed coverage on First Mid Bancshares in a research report on Wednesday, June 26th. They issued an “outperform” rating and a $35.00 target price on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, First Mid Bancshares has an average rating of “Moderate Buy” and a consensus price target of $36.60.

First Mid Bancshares Price Performance

NASDAQ:FMBH opened at $37.66 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.90 and a current ratio of 0.90. The stock’s 50-day simple moving average is $34.11 and its 200 day simple moving average is $32.32. The company has a market cap of $899.92 million, a P/E ratio of 12.15 and a beta of 0.90. First Mid Bancshares has a 52-week low of $25.73 and a 52-week high of $40.24.

Hedge Funds Weigh In On First Mid Bancshares

A number of institutional investors have recently bought and sold shares of FMBH. ICA Group Wealth Management LLC acquired a new position in First Mid Bancshares during the fourth quarter worth approximately $25,000. EntryPoint Capital LLC acquired a new position in First Mid Bancshares during the first quarter worth approximately $29,000. CWM LLC increased its position in First Mid Bancshares by 344.2% during the second quarter. CWM LLC now owns 884 shares of the bank’s stock worth $29,000 after buying an additional 685 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of First Mid Bancshares by 48.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,370 shares of the bank’s stock worth $186,000 after acquiring an additional 1,743 shares during the period. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of First Mid Bancshares during the fourth quarter worth approximately $208,000. Institutional investors and hedge funds own 47.57% of the company’s stock.

First Mid Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Friday, August 16th. This is an increase from First Mid Bancshares’s previous quarterly dividend of $0.23. First Mid Bancshares’s payout ratio is 30.97%.

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.