First Mid Bancshares (NASDAQ:FMBH) Releases Earnings Results, Beats Estimates By $0.05 EPS

First Mid Bancshares (NASDAQ:FMBH) posted its quarterly earnings results on Thursday. The bank reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05, Zacks reports. First Mid Bancshares had a return on equity of 10.38% and a net margin of 17.32%.

First Mid Bancshares Stock Up 0.6 %

Shares of FMBH opened at $37.84 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 0.91. First Mid Bancshares has a 52 week low of $28.86 and a 52 week high of $43.86. The stock has a market capitalization of $904.75 million, a price-to-earnings ratio of 11.64 and a beta of 0.93. The stock has a fifty day moving average of $38.91 and a 200-day moving average of $38.71.

First Mid Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Thursday, February 13th will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, February 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.54%. First Mid Bancshares’s payout ratio is presently 29.54%.

Wall Street Analysts Forecast Growth

FMBH has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of First Mid Bancshares from $42.00 to $45.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Stephens restated an “equal weight” rating and set a $43.00 price objective on shares of First Mid Bancshares in a research report on Friday. Piper Sandler upped their target price on First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, DA Davidson lowered First Mid Bancshares from a “buy” rating to a “neutral” rating and lifted their price target for the company from $44.00 to $47.00 in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, First Mid Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Insider Buying and Selling

In other First Mid Bancshares news, Director James Edwin Zimmer acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was acquired at an average price of $39.87 per share, for a total transaction of $39,870.00. Following the acquisition, the director now directly owns 4,050 shares in the company, valued at $161,473.50. This represents a 32.79 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.70% of the stock is currently owned by corporate insiders.

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.