First Mid Bancshares, Inc. (NASDAQ:FMBH) Declares $0.23 Quarterly Dividend

First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.23 per share by the bank on Friday, May 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Tuesday, May 14th.

First Mid Bancshares has increased its dividend payment by an average of 4.3% per year over the last three years. First Mid Bancshares has a dividend payout ratio of 27.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Mid Bancshares to earn $3.37 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 27.3%.

First Mid Bancshares Stock Up 0.4 %

NASDAQ:FMBH traded up $0.13 during mid-day trading on Friday, hitting $31.51. 30,892 shares of the company's stock traded hands, compared to its average volume of 54,570. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $752.77 million, a P/E ratio of 10.16 and a beta of 0.87. The company has a fifty day moving average of $30.75 and a 200 day moving average of $31.10. First Mid Bancshares has a twelve month low of $21.77 and a twelve month high of $35.83.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last issued its earnings results on Thursday, January 25th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.11. The company had revenue of $79.23 million during the quarter, compared to analyst estimates of $77.10 million. First Mid Bancshares had a return on equity of 10.81% and a net margin of 17.01%. On average, analysts forecast that First Mid Bancshares will post 3.28 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FMBH shares. Raymond James increased their price target on shares of First Mid Bancshares from $34.00 to $38.00 and gave the stock an "outperform" rating in a report on Monday, January 29th. Stephens dropped their price target on shares of First Mid Bancshares from $40.00 to $38.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.50.

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.