First Mid Bancshares (NASDAQ:FMBH) Issues Earnings Results, Beats Expectations By $0.21 EPS

First Mid Bancshares (NASDAQ:FMBH) posted its earnings results on Thursday. The bank reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.21, FiscalAI reports. The company had revenue of $109.32 million for the quarter, compared to analyst estimates of $107.42 million. First Mid Bancshares had a return on equity of 11.17% and a net margin of 19.76%.

First Mid Bancshares Stock Performance

FMBH opened at $51.00 on Friday. First Mid Bancshares has a 52-week low of $34.15 and a 52-week high of $51.22. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.36 billion, a P/E ratio of 12.66 and a beta of 0.79. The firm’s 50-day moving average price is $46.52 and its 200-day moving average price is $43.57.

First Mid Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a dividend of $0.26 per share. The ex-dividend date is Tuesday, August 18th. This is a positive change from First Mid Bancshares’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.0%. First Mid Bancshares’s payout ratio is presently 25.19%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FMBH. Raymond James Financial restated an “outperform” rating and issued a $48.00 price target on shares of First Mid Bancshares in a report on Friday, May 1st. Keefe, Bruyette & Woods boosted their price objective on shares of First Mid Bancshares from $46.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st. Weiss Ratings reissued a “buy (b)” rating on shares of First Mid Bancshares in a research report on Friday, May 1st. DA Davidson raised their target price on shares of First Mid Bancshares from $44.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $55.00 price target (up from $52.00) on shares of First Mid Bancshares in a report on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.50.

Institutional Trading of First Mid Bancshares

Large investors have recently bought and sold shares of the stock. Jane Street Group LLC increased its stake in First Mid Bancshares by 0.8% during the 4th quarter. Jane Street Group LLC now owns 41,096 shares of the bank’s stock valued at $1,603,000 after purchasing an additional 326 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of First Mid Bancshares by 32.0% during the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock worth $64,000 after buying an additional 415 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of First Mid Bancshares by 17.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the bank’s stock valued at $141,000 after buying an additional 538 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of First Mid Bancshares by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,566 shares of the bank’s stock valued at $473,000 after acquiring an additional 550 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of First Mid Bancshares by 6.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,101 shares of the bank’s stock valued at $511,000 after acquiring an additional 823 shares during the period. Hedge funds and other institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Company Profile

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.