First Mid Bancshares, Inc. (NASDAQ:FMBH) expects quarterly dividend of $0.23
First Mid Bancshares, Inc. (NASDAQ: FMBH – Get a rating) declared a quarterly dividend on Thursday, July 28, Zacks reports. Investors of record on Thursday, August 18 will receive a dividend of 0.23 per share from the bank on Thursday, September 1. This represents a dividend of $0.92 on an annualized basis and a yield of 2.42%. The ex-date of this dividend is Wednesday, August 17. This is a positive change from First Mid Bancshares’ previous quarterly dividend of $0.22.
First Mid Bancshares has a payout ratio of 21.7%, meaning its dividend is sufficiently covered by earnings. Stock analysts expect First Mid Bancshares to earn $4.04 per share next year, meaning the company should continue to be able to cover its annual dividend of $0.88 with a ratio of expected future payout of 21.8%.
First Mid Banc shares down 0.9%
Shares of First Mid Bancshares opened at $38.03 on Friday. The stock has a market capitalization of $777.71 million, a P/E ratio of 10.93 and a beta of 0.86. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt ratio of 0.36. The stock has a 50-day moving average price of $36.79 and a 200-day moving average price of $38.53. First Mid Bancshares has a 12-month low of $35.05 and a 12-month high of $45.84.
First Mid Bench Stocks (NASDAQ:FMBH – Get a rating) last released its results on Thursday, July 28. The bank reported EPS of $0.86 for the quarter, missing the consensus estimate of $0.90 per ($0.04). First Mid Banc shares had a return on equity of 11.70% and a net margin of 24.32%. Equity analysts expect First Mid Bancshares to post earnings per share of 3.79 for the current year.
Hedge funds weigh on First Mid Banc shares
A number of institutional investors have recently changed their holdings in FMBH. First Trust Advisors LP increased its equity stake in First Mid Bancshares by 24.0% in the first quarter. First Trust Advisors LP now owns 10,408 shares of the bank valued at $401,000 after purchasing an additional 2,014 shares during the period. MetLife Investment Management LLC increased its holdings of First Mid Bancshares shares by 56.1% in the first quarter. MetLife Investment Management LLC now owns 9,423 shares of the bank valued at $363,000 after buying 3,387 additional shares last quarter. Charles Schwab Investment Management Inc. increased its position in shares of First Mid Bancshares by 3.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 120,487 shares of the bank valued at $4,638,000 after acquiring 3,677 additional shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of First Mid Bancshares by 4.2% during the first quarter. Bank of New York Mellon Corp now owns 92,671 shares of the bank valued at $3,567,000 after acquiring 3,765 additional shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of First Mid Bancshares by 14.4% during the first quarter. Sei Investments Co. now owns 41,461 shares of the bank valued at $1,596,000 after acquiring 5,206 additional shares in the last quarter. Institutional investors and hedge funds own 31.35% of the company’s shares.
Wall Street analysts predict growth
FMBH has been the subject of several recent research reports. StockNews.com cut shares of First Mid Banc from a “buy” rating to a “hold” rating in a Tuesday, July 5 report. Raymond James upgraded First Mid Bancshares from a “market performance” rating to an “outperform” rating and set a target price of $45.00 on the stock in a research report on Thursday July 7.
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 term deposits. The Company’s lending products include commercial real estate, commercial and industrial real estate, agricultural and agricultural real estate, residential real estate and consumer loans; and other loans including loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.
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