First Mid Bancshares, Inc. (NASDAQ:FMBH – Get Free Report) announced a quarterly dividend on Thursday, October 29th. Investors of record on Monday, November 16th will be paid a dividend of $0.26 per share by the bank on Tuesday, December 1st. This represents a $1.04 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Monday, November 16th.
First Mid Bancshares has a dividend payout ratio of 26.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Mid Bancshares to earn $4.99 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 20.8%.
First Mid Bancshares Trading Down 1.4%
Shares of FMBH opened at $50.40 on Friday. First Mid Bancshares has a 52-week low of $34.15 and a 52-week high of $53.36. The stock has a market cap of $1.34 billion, a PE ratio of 11.61 and a beta of 0.80. The firm’s fifty day moving average is $49.97 and its two-hundred day moving average is $46.05. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.03.
First Mid Bancshares (NASDAQ:FMBH – Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The bank reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.12. First Mid Bancshares had a return on equity of 11.55% and a net margin of 20.87%. The business had revenue of $107.43 million during the quarter, compared to analyst estimates of $108.47 million. Research analysts forecast that First Mid Bancshares will post 4.74 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP lifted its holdings in First Mid Bancshares by 13.7% in the 2nd quarter. Wellington Management Group LLP now owns 503,186 shares of the bank’s stock valued at $24,198,000 after purchasing an additional 60,733 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of First Mid Bancshares in the 2nd quarter worth about $1,123,000. Deutsche Bank AG purchased a new position in shares of First Mid Bancshares in the 2nd quarter valued at $1,173,000. Principal Financial Group Inc. acquired a new position in shares of First Mid Bancshares during the first quarter worth about $1,012,000. Finally, Dimensional Fund Advisors LP boosted its holdings in First Mid Bancshares by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,101,095 shares of the bank’s stock worth $45,354,000 after acquiring an additional 56,997 shares during the period. 47.57% of the stock is owned by hedge funds and other institutional investors.
About First Mid Bancshares
First Mid Bancshares, Inc is a financial services holding company headquartered in Mattoon, Illinois. Through its principal subsidiary, First Mid Bank & Trust, N.A., the company provides banking and related financial services to individuals, families, farmers, businesses and governmental entities.
First Mid Bank & Trust offers deposit accounts, consumer and commercial lending, agricultural loans, mortgage services, treasury and cash-management services, online and mobile banking, and other traditional banking products.
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