First Mid Bancshares, Inc. to Post FY2024 Earnings of $3.35 Per Share, DA Davidson Forecasts (NASDAQ:FMBH)

First Mid Bancshares, Inc. (NASDAQ:FMBH) – Research analysts at DA Davidson lowered their FY2024 earnings per share (EPS) estimates for First Mid Bancshares in a research note issued to investors on Tuesday, April 30th. DA Davidson analyst J. Rulis now expects that the bank will earn $3.35 per share for the year, down from their prior forecast of $3.65. The consensus estimate for First Mid Bancshares’ current full-year earnings is $3.23 per share.

FMBH has been the topic of a number of other reports. Piper Sandler decreased their price objective on First Mid Bancshares from $39.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Raymond James increased their price target on First Mid Bancshares from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Finally, Stephens reduced their price target on First Mid Bancshares from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.00.

First Mid Bancshares Price Performance

NASDAQ:FMBH opened at $32.26 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $770.69 million, a P/E ratio of 10.41 and a beta of 0.87. First Mid Bancshares has a 12 month low of $21.77 and a 12 month high of $35.83. The business’s 50-day moving average is $30.83 and its 200 day moving average is $31.22.

Institutional Trading of First Mid Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of FMBH. ICA Group Wealth Management LLC acquired a new stake in shares of First Mid Bancshares in the 4th quarter worth $25,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of First Mid Bancshares by 48.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,370 shares of the bank’s stock worth $186,000 after purchasing an additional 1,743 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of First Mid Bancshares in the 4th quarter valued at $208,000. Arizona State Retirement System purchased a new stake in shares of First Mid Bancshares in the 4th quarter valued at $208,000. Finally, Choreo LLC acquired a new stake in shares of First Mid Bancshares in the fourth quarter worth $222,000. Institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.92 annualized dividend and a yield of 2.85%. First Mid Bancshares’s dividend payout ratio (DPR) is currently 29.68%.

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 time deposits. The company's loan products include commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans, as well as construction and land development, 1-4 family residential properties, and multifamily residential properties loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.