First Mid Bancshares, Inc. (NASDAQ:FMBH) Plans Dividend Increase – $0.26 Per Share

First Mid Bancshares, Inc. (NASDAQ:FMBH) announced a quarterly dividend on Tuesday, July 21st. Stockholders of record on Tuesday, August 18th will be given a dividend of 0.26 per share by the bank on Tuesday, September 1st. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Tuesday, August 18th. This is a 4.0% increase from First Mid Bancshares’s previous quarterly dividend of $0.25.

First Mid Bancshares has increased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 3 years. First Mid Bancshares has a payout ratio of 26.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First Mid Bancshares to earn $4.95 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 21.0%.

First Mid Bancshares Stock Down 0.2%

Shares of NASDAQ FMBH opened at $52.01 on Friday. The business has a 50-day moving average price of $48.99 and a 200 day moving average price of $44.75. The stock has a market cap of $1.38 billion, a PE ratio of 12.91 and a beta of 0.78. The company has a quick ratio of 0.97, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. First Mid Bancshares has a 52-week low of $34.15 and a 52-week high of $53.36.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $1.26 EPS for the quarter, topping the consensus estimate of $1.05 by $0.21. First Mid Bancshares had a return on equity of 10.86% and a net margin of 19.76%.The company had revenue of $109.32 million for the quarter, compared to analyst estimates of $107.42 million. Equities research analysts forecast that First Mid Bancshares will post 4.69 earnings per share for the current year.

Institutional Investors Weigh In On First Mid Bancshares

Several large investors have recently modified their holdings of FMBH. Freestone Grove Partners LP acquired a new stake in shares of First Mid Bancshares during the second quarter worth $1,664,000. Odyssean LLC purchased a new position in First Mid Bancshares in the 2nd quarter valued at $299,000. Man Group plc acquired a new position in First Mid Bancshares in the 2nd quarter valued at $6,101,000. Jupiter Topco LLC acquired a new position in First Mid Bancshares in the 2nd quarter valued at $654,000. Finally, Hsbc Holdings PLC purchased a new position in First Mid Bancshares during the 2nd quarter worth $574,000. Hedge funds and other institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Company Profile

First Mid Bancshares, Inc (NASDAQ: FMBH), headquartered in Mattoon, Illinois, is a financial services holding company that offers a comprehensive suite of banking products and services through its main subsidiary, First Mid Bank & Trust. The company’s primary business activities include commercial and retail banking, mortgage origination and servicing, wealth management and trust administration, as well as treasury and cash management solutions.

Through its branch network, First Mid provides consumer deposit products such as checking and savings accounts, certificates of deposit and online banking services.