First Mid Bancshares (FMBH) to Release Quarterly Earnings on Thursday

Key Points

• First Mid Bancshares is set to release its quarterly earnings on August 7th, with expected earnings of $0.91 per share, following a previous report of $0.99 EPS.
• The company has announced a dividend increase to $0.25 per share, with the next payment occurring on August 29th, representing an annual yield of 2.61%.
• Recent analyst activity includes upgrades, with median target prices ranging between $40.00 to $49.00, indicating a generally positive sentiment towards the stock.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) is projected to release its earnings data before the market opens on Thursday, August 7th. Analysts expect First Mid Bancshares to post earnings of $0.91 per share for the quarter.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The bank reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.08. The firm had revenue of $88.23 million during the quarter, compared to the consensus estimate of $64.42 million. First Mid Bancshares had a net margin of 18.32% and a return on equity of 10.19%. On average, analysts expect First Mid Bancshares to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

First Mid Bancshares Stock Performance

FMBH stock traded down $0.51 during mid-day trading on Friday, reaching $37.46. The company had a trading volume of 97,455 shares, compared to its average volume of 57,048. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $898.67 million, a P/E ratio of 10.64 and a beta of 0.91. First Mid Bancshares has a one year low of $27.58 and a one year high of $43.86. The stock's 50-day simple moving average is $37.43 and its two-hundred day simple moving average is $36.37.

First Mid Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 15th. This is an increase from First Mid Bancshares's previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 2.7%. First Mid Bancshares's dividend payout ratio is currently 27.27%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wall Street Zen upgraded shares of First Mid Bancshares from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Raymond James Financial reaffirmed an "outperform" rating and set a $40.00 target price (down previously from $43.00) on shares of First Mid Bancshares in a research note on Friday, May 2nd. Stephens reaffirmed a "positive" rating on shares of First Mid Bancshares in a research report on Friday, May 2nd. DA Davidson upped their target price on First Mid Bancshares from $39.00 to $42.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Piper Sandler upped their target price on First Mid Bancshares from $47.00 to $49.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $43.33.

Institutional Trading of First Mid Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FMBH. Strs Ohio bought a new stake in shares of First Mid Bancshares during the first quarter worth $42,000. Jones Financial Companies Lllp raised its position in First Mid Bancshares by 1,662.9% in the 1st quarter. Jones Financial Companies Lllp now owns 4,231 shares of the bank's stock valued at $148,000 after buying an additional 3,991 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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 buying an additional 550 shares during the last quarter. Jane Street Group LLC increased its position in shares of First Mid Bancshares by 494.1% during the 1st quarter. Jane Street Group LLC now owns 32,755 shares of the bank's stock worth $1,143,000 after purchasing an additional 27,242 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of First Mid Bancshares by 31.5% during the 1st quarter. Empowered Funds LLC now owns 72,134 shares of the bank's stock worth $2,517,000 after purchasing an additional 17,266 shares during the last quarter. Institutional investors own 47.57% of the company's stock.

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.