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

First Mid Bancshares, Inc. (NASDAQ:FMBH) announced a quarterly dividend on Thursday, July 23rd. 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 2.1%. The ex-dividend date of this dividend 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 raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 3 years. First Mid Bancshares has a dividend payout ratio of 25.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Mid Bancshares to earn $4.93 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 20.3%.

First Mid Bancshares Price Performance

Shares of NASDAQ FMBH traded up $1.55 during midday trading on Thursday, reaching $50.05. The company’s stock had a trading volume of 237,669 shares, compared to its average volume of 126,118. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $1.33 billion, a P/E ratio of 12.61 and a beta of 0.79. The business’s 50 day moving average price is $46.18 and its two-hundred day moving average price is $43.44. First Mid Bancshares has a fifty-two week low of $34.15 and a fifty-two week high of $50.51.

First Mid Bancshares (NASDAQ:FMBH) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.21. First Mid Bancshares had a return on equity of 10.44% and a net margin of 19.95%.The business had revenue of $109.32 million for the quarter, compared to the consensus estimate of $107.42 million. On average, analysts forecast that First Mid Bancshares will post 4.58 EPS for the current fiscal year.

About First Mid Bancshares

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.