First Mid Bancshares, Inc. (FMBH) To Go Ex-Dividend on August 18th

First Mid Bancshares, Inc. (NASDAQ:FMBH – Get Free Report) announced a quarterly dividend on Tuesday, July 21st. Shareholders of record on Tuesday, August 18th will be given a dividend of 0.26 per share by the bank on Tuesday, September 1st. This represents a c) annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, August 18th. This is a 4.0% increase from First Mid Bancshares’s previous quarterly dividend of $0.25.

First Mid Bancshares has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 3 consecutive years. 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 $4.95 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 21.0%.

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First Mid Bancshares Stock Performance

Shares of FMBH opened at $52.01 on Friday. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 12.91 and a beta of 0.78. First Mid Bancshares has a 12 month low of $34.15 and a 12 month high of $53.36. The company has a current ratio of 0.95, a quick ratio of 0.97 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average of $48.99 and a 200 day moving average of $44.75.

First Mid Bancshares (NASDAQ:FMBH – Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.21. First Mid Bancshares had a net margin of 19.76% and a return on equity of 10.86%. The business had revenue of $109.32 million during the quarter, compared to the consensus estimate of $107.42 million. As a group, sell-side analysts forecast that First Mid Bancshares will post 4.69 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of First Mid Bancshares in a report on Wednesday, July 29th. Raymond James Financial reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of First Mid Bancshares in a report on Friday, May 1st. Keefe, Bruyette & Woods lifted their price objective on shares of First Mid Bancshares from $50.00 to $54.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Piper Sandler increased their target price on First Mid Bancshares from $55.00 to $62.50 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Finally, DA Davidson upped their price target on First Mid Bancshares from $47.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, First Mid Bancshares has an average rating of “Moderate Buy” and a consensus price target of $54.62.

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First Mid Bancshares Company Profile

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First Mid Bancshares, Inc (NASDAQ: FMBH), headquartered in Mattoon, Illinois, is a financial services holding company that offers a comprehensive suite of banking products and services through its main subsidiary, First Mid Bank & Trust. The company’s primary business activities include commercial and retail banking, mortgage origination and servicing, wealth management and trust administration, as well as treasury and cash management solutions.

Through its branch network, First Mid provides consumer deposit products such as checking and savings accounts, certificates of deposit and online banking services.

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