First Mid Bancshares, Inc. (NASDAQ:FMBH) Expected to Announce Quarterly Sales of $61.80 Million

Brokerages expect First Mid Bancshares, Inc. (NASDAQ:FMBH) to report sales of $61.80 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for First Mid Bancshares’ earnings, with estimates ranging from $60.30 million to $63.10 million. First Mid Bancshares posted sales of $46.10 million during the same quarter last year, which suggests a positive year-over-year growth rate of 34.1%. The company is scheduled to report its next earnings report on Thursday, November 4th.

On average, analysts expect that First Mid Bancshares will report full-year sales of $241.90 million for the current fiscal year, with estimates ranging from $238.90 million to $244.00 million. For the next financial year, analysts expect that the company will post sales of $256.63 million, with estimates ranging from $244.60 million to $265.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover First Mid Bancshares.

First Mid Bancshares (NASDAQ:FMBH) last issued its earnings results on Wednesday, July 28th. The bank reported $0.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01). First Mid Bancshares had a return on equity of 9.91% and a net margin of 18.31%. The firm had revenue of $61.03 million for the quarter, compared to analyst estimates of $57.25 million.

Shares of NASDAQ:FMBH traded up $0.94 on Wednesday, hitting $41.36. The company had a trading volume of 1,168 shares, compared to its average volume of 38,114. First Mid Bancshares has a 1-year low of $22.43 and a 1-year high of $45.00. The stock has a market cap of $747.91 million, a price-to-earnings ratio of 16.70 and a beta of 0.98. The stock has a 50 day moving average price of $40.11 and a 200 day moving average price of $41.85. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.37.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Wednesday, August 18th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Tuesday, August 17th. This is a boost from First Mid Bancshares’s previous quarterly dividend of $0.21. First Mid Bancshares’s payout ratio is presently 32.59%.

Several institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. bought a new stake in First Mid Bancshares during the second quarter worth about $54,000. Royal Bank of Canada lifted its position in First Mid Bancshares by 154.6% during the first quarter. Royal Bank of Canada now owns 1,255 shares of the bank’s stock worth $55,000 after purchasing an additional 762 shares during the period. Panagora Asset Management Inc. bought a new stake in First Mid Bancshares during the first quarter worth about $112,000. UBS Group AG lifted its position in First Mid Bancshares by 64.2% during the first quarter. UBS Group AG now owns 3,193 shares of the bank’s stock worth $140,000 after purchasing an additional 1,249 shares during the period. Finally, Morgan Stanley lifted its holdings in shares of First Mid Bancshares by 12.7% in the second quarter. Morgan Stanley now owns 3,786 shares of the bank’s stock worth $153,000 after acquiring an additional 426 shares during the last quarter. 35.65% of the stock is owned by institutional investors.

First Mid Bancshares Company Profile

First Mid Bancshares, Inc is a financial holding company, which engages in the provision of banking services through its subsidiaries. It operates through the following lines of business: Community Banking, Wealth Management, and Insurance Brokerage. The Community Banking business line, which is operated by First Mid-Illinois Bank & Trust, serves commercial, retail, and agricultural customers with a broad array of deposit and loan related products.

Featured Article: What can cause a stock to outperform?

Get a free copy of the Zacks research report on First Mid Bancshares (FMBH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for First Mid Bancshares (NASDAQ:FMBH)

Receive News & Ratings for First Mid Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Mid Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.