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

First Mid Bancshares, Inc. (NASDAQ:FMBH) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors 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 yield of 2.94%. 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

NASDAQ FMBH traded down $0.07 during trading on Friday, hitting $31.31. The company’s stock had a trading volume of 2,889 shares, compared to its average volume of 54,220. The firm has a market cap of $748.00 million, a P/E ratio of 10.12 and a beta of 0.87. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.36. First Mid Bancshares has a 52 week low of $21.77 and a 52 week high of $35.83. The firm has a 50 day moving average price of $30.74 and a 200 day moving average price of $31.07.

First Mid Bancshares (NASDAQ:FMBH) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $0.94 EPS for the quarter, beating the consensus estimate of $0.83 by $0.11. The business had revenue of $79.23 million for the quarter, compared to analyst estimates of $77.10 million. First Mid Bancshares had a return on equity of 10.81% and a net margin of 17.01%. Equities research analysts forecast that First Mid Bancshares will post 3.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on FMBH shares. Raymond James boosted their price target on First Mid Bancshares from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Stephens reduced their price objective on First Mid Bancshares from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $36.50.

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.