First Mid Bancshares Achieves Average Price Target of $43.17

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have received an average price target of $43.17 from eight research firms, according to a report by Marketbeat.com. The stock is rated as a “Moderate Buy,” with three analysts assigning a hold rating, four issuing buy ratings, and one giving a strong buy rating.

Recent evaluations by several brokerages have influenced this outlook. Notably, Wall Street Zen upgraded First Mid from a “sell” to a “hold” rating on July 26, while Weiss Ratings downgraded the stock from a “buy (b-)” to a “hold (c+)” on October 25. In contrast, Zacks Research raised its rating from “hold” to “strong buy” on November 3. On the same day, Piper Sandler adjusted its price target from $49.00 to $48.00, maintaining an “overweight” rating.

Current Stock Performance and Financial Indicators

On Tuesday, shares of First Mid Bancshares opened at $37.61. The company maintains a debt-to-equity ratio of 0.37, with both a quick ratio and current ratio of 0.93. Over the past year, the stock has fluctuated, reaching a low of $27.58 and a high of $43.86. Currently, the firm has a market capitalization of $902.64 million and a price-to-earnings (P/E) ratio of 10.30. Its beta stands at 0.93, indicating relative stability compared to the market.

First Mid Bancshares recently announced its quarterly earnings on October 30. The bank reported earnings of $0.97 per share, surpassing analyst expectations of $0.96 by $0.01. The firm achieved a return on equity of 10.27% and a net margin of 18.77%. Revenue for the quarter was $89.27 million, significantly exceeding analyst estimates of $65.60 million. Analysts predict that First Mid Bancshares will post earnings of $3.61 per share for the current fiscal year.

Dividend Declaration and Company Overview

In addition to its earnings report, First Mid Bancshares has declared a quarterly dividend of $0.25 per share, set to be paid on December 1. Shareholders of record as of November 14 will receive this dividend, which translates to an annualized total of $1.00 and a dividend yield of 2.7%. The company’s payout ratio stands at 27.40%, indicating a sustainable distribution of earnings to shareholders.

First Mid Bancshares is a financial holding company that offers community banking products and services to commercial, retail, and agricultural customers throughout the United States. The company provides a range of deposit products, including demand deposits, savings accounts, and money market deposits. Its loan offerings encompass commercial real estate, industrial loans, agricultural loans, and various consumer loans.

As First Mid Bancshares continues to navigate the financial landscape, its recent performance and strategic adjustments reflect a commitment to growth and shareholder value.