First Mid Bancshares (NASDAQ:FMBH) Announces Earnings Results

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

First Mid Bancshares Stock Down 1.2 %

Shares of First Mid Bancshares stock opened at $36.60 on Thursday. First Mid Bancshares has a twelve month low of $28.86 and a twelve month high of $43.86. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.41. The company’s 50 day moving average is $39.08 and its 200 day moving average is $38.68. The company has a market cap of $875.11 million, a price-to-earnings ratio of 11.26 and a beta of 0.93.

First Mid Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were paid a $0.24 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.62%. First Mid Bancshares’s dividend payout ratio is presently 29.54%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, Director James Edwin Zimmer purchased 1,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were purchased at an average cost of $39.87 per share, for a total transaction of $39,870.00. Following the purchase, the director now directly owns 4,050 shares in the company, valued at approximately $161,473.50. This represents a 32.79 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 7.70% of the stock is currently owned by insiders.

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.