First Mid Bancshares (NASDAQ:FMBH) Announces Quarterly Earnings Results

First Mid Bancshares (NASDAQ:FMBH) released its quarterly earnings results on Thursday. The bank reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05, Zacks reports. First Mid Bancshares had a return on equity of 10.38% and a net margin of 17.32%.

First Mid Bancshares Price Performance

FMBH stock opened at $36.32 on Thursday. The stock has a 50-day moving average price of $39.08 and a two-hundred day moving average price of $38.68. The company has a market cap of $868.41 million, a PE ratio of 11.25 and a beta of 0.93. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.41. First Mid Bancshares has a 12-month low of $28.86 and a 12-month high of $43.86.

First Mid Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.64%. First Mid Bancshares’s dividend payout ratio is presently 29.54%.

Insider Transactions at First Mid Bancshares

In related news, Director James Edwin Zimmer acquired 1,000 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were bought at an average cost of $39.87 per share, with a total value of $39,870.00. Following the completion of the transaction, the director now directly owns 4,050 shares of the company’s stock, valued at $161,473.50. This trade represents a 32.79 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FMBH. Piper Sandler boosted their target price on shares of First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. DA Davidson downgraded shares of First Mid Bancshares from a “buy” rating to a “neutral” rating and upped their price objective for the company from $44.00 to $47.00 in a research note on Tuesday, November 12th. Stephens cut shares of First Mid Bancshares from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Finally, Keefe, Bruyette & Woods boosted their price target on First Mid Bancshares from $42.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

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.