First Mid Bancshares, Inc. (NASDAQ:FMBH) Announces 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 paid a dividend of 0.23 per share by the bank on Friday, May 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Tuesday, May 14th.

First Mid Bancshares has increased its dividend by an average of 4.3% per year over the last three years. First Mid Bancshares has a payout ratio of 27.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 First Mid Bancshares stock opened at $31.38 on Friday. The business has a 50-day moving average of $30.74 and a 200 day moving average of $31.07. First Mid Bancshares has a 12 month low of $21.77 and a 12 month high of $35.83. The stock has a market capitalization of $749.67 million, a price-to-earnings ratio of 10.12 and a beta of 0.87. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.91 and a quick ratio of 0.91.

First Mid Bancshares (NASDAQ:FMBH) last announced its earnings results on Thursday, January 25th. The bank reported $0.94 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $77.10 million. As a group, sell-side analysts forecast that First Mid Bancshares will post 3.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Raymond James raised their target price on First Mid Bancshares from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Stephens decreased their price objective on First Mid Bancshares from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average 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.