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

First Mid Bancshares, Inc. (NASDAQ:FMBH) announced a quarterly dividend on Thursday, October 31st, Zacks reports. Shareholders 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 is Thursday, November 14th.

First Mid Bancshares has raised 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 27.1% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NASDAQ FMBH traded up $0.43 during midday trading on Friday, hitting $38.58. The company had a trading volume of 5,145 shares, compared to its average volume of 57,085. First Mid Bancshares has a twelve month low of $28.04 and a twelve month high of $41.02. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $922.45 million, a price-to-earnings ratio of 12.37 and a beta of 0.89. The business has a 50-day simple moving average of $38.88 and a two-hundred day simple moving average of $35.47.

First Mid Bancshares (NASDAQ:FMBH) last posted its earnings results on Thursday, August 1st. The bank reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.05. First Mid Bancshares had a return on equity of 10.43% and a net margin of 16.75%. The company had revenue of $79.19 million for the quarter, compared to analyst estimates of $78.25 million. Equities research analysts anticipate that First Mid Bancshares will post 3.47 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on FMBH shares. Piper Sandler upped their price target on shares of First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Friday. Keefe, Bruyette & Woods lowered shares of First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 target price on the stock. in a report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

About First Mid Bancshares

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.