First Mid Bancshares, Inc. (NASDAQ:FMBH) Plans $0.23 Quarterly Dividend

First Mid Bancshares, Inc. (NASDAQ:FMBH) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Wednesday, May 15th will be given a dividend of 0.23 per share by the bank on Friday, May 31st. This represents a $0.92 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Tuesday, May 14th.

First Mid Bancshares has increased 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 27.2% meaning its dividend is sufficiently covered by earnings. Analysts expect First Mid Bancshares to earn $3.37 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 27.3%.

First Mid Bancshares Stock Performance

Shares of NASDAQ FMBH traded up $0.14 during midday trading on Friday, hitting $31.52. 2,039 shares of the stock traded hands, compared to its average volume of 54,205. The firm has a 50-day moving average of $30.74 and a two-hundred day moving average of $31.07. The firm has a market capitalization of $753.01 million, a P/E ratio of 10.12 and a beta of 0.87. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 0.91. First Mid Bancshares has a one year low of $21.77 and a one year high of $35.83.

First Mid Bancshares (NASDAQ:FMBH) last announced its earnings results on Thursday, January 25th. The bank reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. First Mid Bancshares had a return on equity of 10.81% and a net margin of 17.01%. The company had revenue of $79.23 million for the quarter, compared to analysts’ expectations of $77.10 million. On average, equities analysts forecast that First Mid Bancshares will post 3.28 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Raymond James increased their price target on First Mid Bancshares from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Stephens cut their price objective on First Mid Bancshares from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, First Mid Bancshares presently has a consensus rating of “Moderate Buy” and an average target price of $36.50.

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.