First Mid Bancshares, Inc. (NASDAQ:FMBH) Announces Dividend Increase - $0.25 Per Share

First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) declared a quarterly dividend on Tuesday, July 22nd, 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 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Friday, August 15th. 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. 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 1.5%

Shares of NASDAQ:FMBH traded up $0.59 during midday trading on Monday, hitting $39.37. 74,036 shares of the company's stock were exchanged, compared to its average volume of 64,580. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a 50 day moving average price of $37.19 and a 200-day moving average price of $36.28. The company has a market cap of $944.45 million, a PE ratio of 11.18 and a beta of 0.87. First Mid Bancshares has a 12 month low of $27.58 and a 12 month high of $43.86.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last posted its earnings results on Thursday, July 24th. The bank reported $0.99 EPS for the quarter, topping the consensus estimate of $0.91 by $0.08. The company 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, sell-side analysts anticipate that First Mid Bancshares will post 3.61 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on FMBH. Wall Street Zen raised shares of First Mid Bancshares from a "sell" rating to a "hold" rating in a research report on Saturday. DA Davidson upped their price objective on shares of First Mid Bancshares from $39.00 to $42.00 and gave the stock a "neutral" rating in a research report on Friday. Raymond James Financial reaffirmed an "outperform" rating and issued a $40.00 price objective (down from $43.00) on shares of First Mid Bancshares in a research report on Friday, May 2nd. Stephens reaffirmed a "positive" rating on shares of First Mid Bancshares in a research report on Friday, May 2nd. Finally, Piper Sandler boosted their target price on shares of First Mid Bancshares from $47.00 to $49.00 and gave the company an "overweight" rating in a research note on Monday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $43.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new stake in First Mid Bancshares during the 1st quarter worth about $42,000. Jane Street Group LLC lifted its holdings in 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 in the last quarter. Empowered Funds LLC lifted its stake in First Mid Bancshares by 31.5% in 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 in the last quarter. Jones Financial Companies Lllp lifted its stake 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 worth $148,000 after purchasing an additional 3,991 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 worth $473,000 after purchasing an additional 550 shares in the last quarter. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

About First Mid Bancshares

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.