Q2 2024 Earnings Estimate for First Mid Bancshares, Inc. Issued By DA Davidson (NASDAQ:FMBH)

First Mid Bancshares, Inc. (NASDAQ:FMBH) – DA Davidson issued their Q2 2024 EPS estimates for shares of First Mid Bancshares in a report released on Tuesday, April 30th. DA Davidson analyst J. Rulis expects that the bank will post earnings of $0.80 per share for the quarter. The consensus estimate for First Mid Bancshares’ current full-year earnings is $3.27 per share. DA Davidson also issued estimates for First Mid Bancshares’ FY2025 earnings at $3.50 EPS.

Other research analysts have also recently issued research reports about the company. Stephens decreased their price target on First Mid Bancshares from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Piper Sandler dropped their price objective on First Mid Bancshares from $39.00 to $38.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Raymond James raised their target price on First Mid Bancshares from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.00.

First Mid Bancshares Stock Performance

Shares of FMBH stock opened at $30.96 on Wednesday. First Mid Bancshares has a 12-month low of $21.77 and a 12-month high of $35.83. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $739.63 million, a price-to-earnings ratio of 9.99 and a beta of 0.87. The business has a 50 day simple moving average of $30.75 and a 200 day simple moving average of $31.18.

Institutional Trading of First Mid Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the company. ICA Group Wealth Management LLC bought a new position in First Mid Bancshares during the fourth quarter valued at about $25,000. Wellington Management Group LLP boosted its position in First Mid Bancshares by 5.9% during the fourth quarter. Wellington Management Group LLP now owns 294,666 shares of the bank’s stock worth $10,213,000 after purchasing an additional 16,388 shares during the period. Dimensional Fund Advisors LP boosted its position in First Mid Bancshares by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 678,953 shares of the bank’s stock worth $23,533,000 after purchasing an additional 34,401 shares during the period. Jump Financial LLC acquired a new position in First Mid Bancshares during the fourth quarter valued at approximately $252,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of First Mid Bancshares by 21.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 176,704 shares of the bank’s stock valued at $6,125,000 after purchasing an additional 31,164 shares during the period. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

First Mid Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Tuesday, May 14th. First Mid Bancshares’s dividend payout ratio (DPR) is 29.68%.

First Mid Bancshares Company Profile

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.