First Mid Bancshares (NASDAQ:FMBH) Releases Earnings Results, Meets Expectations

First Mid Bancshares (NASDAQ:FMBH) posted its quarterly earnings data on Thursday. The bank reported $1.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.06, FiscalAI reports. The business had revenue of $90.14 million during the quarter, compared to analysts’ expectations of $67.86 million. First Mid Bancshares had a net margin of 19.69% and a return on equity of 10.61%.

First Mid Bancshares Stock Performance

NASDAQ:FMBH opened at $42.10 on Friday. The firm’s 50-day moving average is $40.46 and its 200-day moving average is $38.87. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 10.96 and a beta of 0.90. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.93 and a current ratio of 0.93. First Mid Bancshares has a 52-week low of $27.58 and a 52-week high of $44.32.

First Mid Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Thursday, February 12th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.4%. The ex-dividend date is Thursday, February 12th. First Mid Bancshares’s dividend payout ratio (DPR) is currently 27.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of First Mid Bancshares in a report on Monday, December 29th. Piper Sandler decreased their price target on shares of First Mid Bancshares from $49.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. Finally, Zacks Research lowered shares of First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, First Mid Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.80.

Insiders Place Their Bets

In other First Mid Bancshares news, CEO Clay M. Dean sold 1,099 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $42.69, for a total value of $46,916.31. Following the completion of the sale, the chief executive officer owned 9,624 shares in the company, valued at approximately $410,848.56. This trade represents a 10.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.70% of the stock is currently owned by company insiders.

Institutional Trading of First Mid Bancshares

A number of large investors have recently bought and sold shares of the stock. Strs Ohio acquired a new position in shares of First Mid Bancshares during the first quarter worth approximately $42,000. Aquatic Capital Management LLC boosted its holdings in shares of First Mid Bancshares by 272.5% in the third quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank’s stock valued at $54,000 after buying an additional 1,052 shares during the period. Federated Hermes Inc. boosted its stake in shares of First Mid Bancshares by 32.0% during the 2nd quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock worth $64,000 after buying an additional 415 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of First Mid Bancshares by 113.0% in the 2nd quarter. Quantbot Technologies LP now owns 2,394 shares of the bank’s stock valued at $90,000 after buying an additional 1,270 shares during the last quarter. Finally, Quadrant Capital Group LLC acquired a new stake in First Mid Bancshares in the 3rd quarter valued at about $128,000. 47.57% of the stock is currently owned by institutional investors.

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.