First Mid Bancshares, Inc. (NASDAQ:FMBH) to Issue Quarterly Dividend of $0.26

Key Points

• First Mid Bancshares declared a quarterly dividend of $0.26 per share, payable December 1 to shareholders of record on November 16. The annualized dividend is $1.04, yielding approximately 2.0%.
• The dividend appears well covered, with a current payout ratio of 26.5% and an expected future payout ratio of 20.8% based on analysts’ projected earnings.
• The bank reported quarterly EPS of $1.26, exceeding analysts’ $1.14 estimate, while revenue of $107.43 million came in slightly below expectations.

First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) declared 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 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, November 16th.

First Mid Bancshares has a dividend payout ratio of 26.5% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

FMBH stock traded up $0.61 during trading on Thursday, hitting $51.13. The stock had a trading volume of 154,931 shares, compared to its average volume of 129,017. First Mid Bancshares has a twelve month low of $34.15 and a twelve month high of $53.36. The company's 50-day moving average price is $49.94 and its two-hundred day moving average price is $45.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $1.36 billion, a P/E ratio of 12.69 and a beta of 0.80.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last announced its earnings results on Thursday, October 29th. The bank reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.12. The business had revenue of $107.43 million during the quarter, compared to analysts' expectations of $108.47 million. First Mid Bancshares had a return on equity of 10.86% and a net margin of 19.76%. As a group, research analysts predict that First Mid Bancshares will post 4.74 EPS for the current fiscal year.

Institutional Trading of First Mid Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC grew its stake in shares of First Mid Bancshares by 36.0% in the third quarter. Nisa Investment Advisors LLC now owns 1,170 shares of the bank's stock worth $57,000 after acquiring an additional 310 shares in the last quarter. USA Financial Formulas acquired a new position in First Mid Bancshares in the third quarter valued at approximately $40,000. Sequoia Financial Advisors LLC acquired a new position in First Mid Bancshares in the second quarter valued at $592,000. Integrated Wealth Concepts LLC acquired a new stake in shares of First Mid Bancshares during the second quarter worth about $31,000. Finally, Arizona State Retirement System increased its position in First Mid Bancshares by 8.3% during the second quarter. Arizona State Retirement System now owns 6,428 shares of the bank's stock worth $309,000 after buying an additional 495 shares during the period. 47.57% of the stock is owned by institutional investors and hedge funds.

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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