First Mid Bancshares, Inc. (NASDAQ:FMBH) Raises Dividend to $0.25 Per Share

First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) declared a quarterly dividend on Thursday, July 24th, RTT News reports. Stockholders of record on Friday, August 15th will be paid a dividend of 0.25 per share by the bank on Friday, August 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.56%. This is a 4.2% increase from First Mid Bancshares's previous quarterly dividend of $0.24.

First Mid Bancshares has a dividend payout ratio of 24.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First Mid Bancshares to earn $3.80 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 25.3%.

First Mid Bancshares Stock Up 0.4%

FMBH traded up $0.15 during trading on Thursday, hitting $39.04. The stock had a trading volume of 21,478 shares, compared to its average volume of 64,213. The company has a market capitalization of $936.45 million, a PE ratio of 11.62 and a beta of 0.87. First Mid Bancshares has a twelve month low of $27.58 and a twelve month high of $43.86. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a 50 day simple moving average of $37.08 and a two-hundred day simple moving average of $36.21.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $0.99 EPS for the quarter, topping the consensus estimate of $0.91 by $0.08. First Mid Bancshares had a net margin of 17.75% and a return on equity of 9.90%. On average, research analysts predict that First Mid Bancshares will post 3.61 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FMBH shares. Raymond James Financial restated an "outperform" rating and set a $40.00 price target (down from $43.00) on shares of First Mid Bancshares in a research report on Friday, May 2nd. Wall Street Zen lowered shares of First Mid Bancshares from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. Finally, Stephens reaffirmed a "positive" rating on shares of First Mid Bancshares in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $43.83.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Strs Ohio acquired a new stake in shares of First Mid Bancshares in the 1st quarter worth $42,000. Jones Financial Companies Lllp raised its position in First Mid Bancshares by 1,662.9% during the first quarter. Jones Financial Companies Lllp now owns 4,231 shares of the bank's stock worth $148,000 after acquiring an additional 3,991 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of First Mid Bancshares by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,566 shares of the bank's stock worth $473,000 after buying an additional 550 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of First Mid Bancshares by 494.1% during the first quarter. Jane Street Group LLC now owns 32,755 shares of the bank's stock worth $1,143,000 after buying an additional 27,242 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in First Mid Bancshares by 31.5% in the first quarter. Empowered Funds LLC now owns 72,134 shares of the bank's stock valued at $2,517,000 after purchasing an additional 17,266 shares during the period. 47.57% of the stock is owned by hedge funds and other institutional investors.

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.

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