First Mid Bancshares, Inc. (NASDAQ:FMBH) CEO Clay M. Dean Sells 1,553 Shares

Key Points

• Clay M. Dean, CEO of First Mid Bancshares, sold 1,553 shares at an average price of $37.64, which marked a 12.15% decrease in his ownership.
• The company has announced a quarterly dividend increase to $0.25, resulting in a yield of 2.7%, set to be paid on August 29th.
• First Mid Bancshares reported $0.99 EPS for the last quarter, exceeding expectations by $0.08 and showing a net margin of 18.32%.

First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) CEO Clay M. Dean sold 1,553 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $37.64, for a total transaction of $58,454.92. Following the completion of the sale, the chief executive officer owned 11,229 shares of the company's stock, valued at $422,659.56. The trade was a 12.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

First Mid Bancshares Price Performance

FMBH traded up $0.04 during midday trading on Monday, reaching $37.32. 43,305 shares of the company's stock were exchanged, compared to its average volume of 62,191. The firm has a market capitalization of $895.31 million, a price-to-earnings ratio of 10.60 and a beta of 0.91. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. First Mid Bancshares, Inc. has a one year low of $27.58 and a one year high of $43.86. The business has a 50-day simple moving average of $37.69 and a two-hundred day simple moving average of $36.39.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last posted its earnings results on Thursday, July 24th. The bank reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.08. First Mid Bancshares had a net margin of 18.32% and a return on equity of 10.19%. The company had revenue of $88.23 million during the quarter, compared to analysts' expectations of $64.42 million. As a group, research analysts predict that First Mid Bancshares, Inc. will post 3.61 EPS for the current year.

First Mid Bancshares Increases Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. bought a new position in shares of First Mid Bancshares in the first quarter valued at approximately $26,000. Sterling Capital Management LLC raised its stake in shares of First Mid Bancshares by 804.9% in the fourth quarter. Sterling Capital Management LLC now owns 733 shares of the bank's stock valued at $27,000 after acquiring an additional 652 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of First Mid Bancshares in the first quarter valued at approximately $29,000. Federated Hermes Inc. raised its position in First Mid Bancshares by 1,226.4% in the 4th quarter. Federated Hermes Inc. now owns 955 shares of the bank's stock worth $35,000 after purchasing an additional 883 shares during the last quarter. Finally, Strs Ohio bought a new position in First Mid Bancshares in the 1st quarter worth approximately $42,000. Institutional investors own 47.57% of the company's stock.

Wall Street Analysts Forecast Growth

FMBH has been the topic of several recent analyst reports. Wall Street Zen raised First Mid Bancshares from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. DA Davidson upped their target price on shares of First Mid Bancshares from $39.00 to $42.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Raymond James Financial restated an "outperform" rating and issued a $40.00 price target (down from $43.00) on shares of First Mid Bancshares in a research report on Friday, May 2nd. Piper Sandler upped their price objective on shares of First Mid Bancshares from $47.00 to $49.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Finally, Stephens reissued a "positive" rating on shares of First Mid Bancshares in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $43.33.

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.