First Mid Bancshares, Inc. (NASDAQ:FMBH) Plans $0.25 Quarterly Dividend

Key Points

• First Mid Bancshares announced a quarterly dividend of $0.25 per share payable June 1 to holders of record on May 15, implying an annualized $1.00 payout and a yield of about 2.4%.
• The bank beat expectations with quarterly EPS of $1.14 (consensus $1.03) and revenue of $98.5M (vs. $96.9M), and its dividend is covered with a payout ratio around 25.5% and an expected future payout ratio near 20.7%.
• Shares opened at $41.27 and were trading down roughly 4% after the report; the company has a market cap of about $1.10B and a P/E of approximately 10.8.

First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) announced a quarterly dividend on Wednesday, April 29th. Investors of record on Friday, May 15th will be given a dividend of 0.25 per share by the bank on Monday, June 1st. This represents a c) annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, May 15th.

First Mid Bancshares has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 3 consecutive years. First Mid Bancshares has a dividend payout ratio of 25.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Mid Bancshares to earn $4.83 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 20.7%.

First Mid Bancshares Trading Down 4.0%

Shares of NASDAQ:FMBH opened at $41.27 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.03. First Mid Bancshares has a 12-month low of $32.62 and a 12-month high of $44.85. The business has a 50 day moving average of $41.72 and a two-hundred day moving average of $40.36. The company has a market capitalization of $1.10 billion, a PE ratio of 10.77 and a beta of 0.82.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last posted its earnings results on Thursday, April 30th. The bank reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.11. First Mid Bancshares had a net margin of 19.69% and a return on equity of 10.44%. The firm had revenue of $98.54 million during the quarter, compared to analyst estimates of $96.85 million. As a group, analysts forecast that First Mid Bancshares will post 4.49 EPS for the current year.

About First Mid Bancshares

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.

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