NasdaqGM:FMBH

Stock Analysis Report

Executive Summary

First Mid Bancshares, Inc., through its subsidiaries, provides community banking products and services to commercial, retail, and agricultural customers in the United States.


Snowflake Analysis

Undervalued with solid track record and pays a dividend.


Similar Companies

Share Price & News

How has First Mid Bancshares's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FMBH's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-3.1%

FMBH

-9.6%

US Banks

-2.8%

US Market


1 Year Return

-36.0%

FMBH

-34.8%

US Banks

-15.9%

US Market

Return vs Industry: FMBH underperformed the US Banks industry which returned -34.8% over the past year.

Return vs Market: FMBH underperformed the US Market which returned -15.9% over the past year.


Shareholder returns

FMBHIndustryMarket
7 Day-3.1%-9.6%-2.8%
30 Day-20.8%-28.8%-18.8%
90 Day-37.9%-44.1%-24.0%
1 Year-34.5%-36.0%-32.8%-34.8%-14.2%-15.9%
3 Year-29.4%-33.4%-23.9%-29.5%9.9%2.8%
5 Year20.0%7.5%0.7%-11.0%27.2%13.3%

Price Volatility Vs. Market

How volatile is First Mid Bancshares's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is First Mid Bancshares undervalued compared to its fair value and its price relative to the market?

47.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FMBH ($21.52) is trading below our estimate of fair value ($41.18)

Significantly Below Fair Value: FMBH is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: FMBH is good value based on its PE Ratio (7.5x) compared to the Banks industry average (8.5x).

PE vs Market: FMBH is good value based on its PE Ratio (7.5x) compared to the US market (12.2x).


Price to Earnings Growth Ratio

PEG Ratio: FMBH's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: FMBH is good value based on its PB Ratio (0.7x) compared to the US Banks industry average (0.8x).


Next Steps

Future Growth

How is First Mid Bancshares forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

-6.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FMBH's earnings are forecast to decline over the next 3 years (-6.6% per year).

Earnings vs Market: FMBH's earnings are forecast to decline over the next 3 years (-6.6% per year).

High Growth Earnings: FMBH's earnings are forecast to decline over the next 3 years.

Revenue vs Market: FMBH's revenue is expected to decline over the next 3 years (-13.4% per year).

High Growth Revenue: FMBH's revenue is forecast to decline over the next 3 years (-13.4% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FMBH's Return on Equity is forecast to be low in 3 years time (7.6%).


Next Steps

Past Performance

How has First Mid Bancshares performed over the past 5 years?

28.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FMBH has high quality earnings.

Growing Profit Margin: FMBH's current net profit margins (27.4%) are higher than last year (26.4%).


Past Earnings Growth Analysis

Earnings Trend: FMBH's earnings have grown significantly by 28.5% per year over the past 5 years.

Accelerating Growth: FMBH's earnings growth over the past year (31%) exceeds its 5-year average (28.5% per year).

Earnings vs Industry: FMBH earnings growth over the past year (31%) exceeded the Banks industry 10.9%.


Return on Equity

High ROE: FMBH's Return on Equity (9.1%) is considered low.


Next Steps

Financial Health

How is First Mid Bancshares's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: FMBH has a low level of unsold assets or inventory.

Debt Coverage by Assets: FMBH's debt is not covered by short term assets (assets are 0.3x debt).


Financial Institutions Analysis

Asset Level: FMBH's level of assets compared to its equity is low.

Allowance for Bad Loans: FMBH has a low allowance for bad loans.

Low Risk Liabilities: FMBH's liabilities are made up of primarily low risk sources of funding.

Loan Level: FMBH has an acceptable proportion of non-loan assets held.

Low Risk Deposits: FMBH's loans are broadly funded by customer deposits.

Level of Bad Loans: FMBH has an appropriate level of bad loans (1.03%)


Next Steps

Dividend

What is First Mid Bancshares's current dividend yield, its reliability and sustainability?

3.72%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FMBH's dividend (3.72%) is higher than the bottom 25% of dividend payers in the US market (2.07%).

High Dividend: FMBH's dividend (3.72%) is low compared to the top 25% of dividend payers in the US market (5.82%).


Stability and Growth of Payments

Stable Dividend: FMBH's dividend payments have been volatile in the past 10 years.

Growing Dividend: FMBH's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (26.4%), FMBH's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FMBH's dividends in 3 years are forecast to be well covered by earnings (32.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.1yrs

Average management tenure


CEO

Joe Dively (60yo)

6.25s

Tenure

US$884,933

Compensation

Mr. Joseph R. Dively, also known as Joe, has been the Chairman of the Board, Chief Executive Officer and President of First Mid Bancshares, Inc (Former name is First Mid-Illinois Bancshares Inc) since Janu ...


CEO Compensation Analysis

Compensation vs Market: Joe's total compensation ($USD884.93K) is below average for companies of similar size in the US market ($USD2.26M).

Compensation vs Earnings: Joe's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Joseph Dively
Chairman6.25yrsUS$884.93k0.37% $1.3m
Matthew Smith
Executive VP & CFO3.33yrsUS$381.40k0.030% $107.7k
Michael Taylor
Senior EVP & COO2.75yrsUS$495.85k0.14% $491.5k
Eric McRae
Executive Vp & Chief Credit Officer12.25yrsUS$428.43k0.16% $569.6k
Bradley Beesley
Executive VP & President and CEO of First Mid Wealth Management5.08yrsUS$453.07k0.055% $199.2k
Laurel Allenbaugh
Executive VP and Chief Operations & IT Officer12yrsUS$261.58k0.064% $231.1k
David Hiden
Senior VP & Chief Information Officer1.75yrsno data0.0057% $20.6k
Jason Crowder
SVP & General Counselno datano data0.0015% $5.4k
Rhonda Gatons
Senior VP & Chief Human Resources Officer4.08yrsno data0.022% $79.6k
Christopher Slabach
Senior VP & Chief Risk Officer13.25yrsno data0.035% $124.1k

5.1yrs

Average Tenure

52yo

Average Age

Experienced Management: FMBH's management team is seasoned and experienced (5.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Joseph Dively
Chairman6.25yrsUS$884.93k0.37% $1.3m
Steven Grissom
Independent Director20.25yrsUS$46.13k0.42% $1.5m
Gary Melvin
Independent Director30.25yrsUS$40.50k4.13% $14.9m
Ray Sparks
Lead Independent Director6.25yrsUS$50.50k1.31% $4.7m
Mary Westerhold
Independent Director3.58yrsUS$47.38k1.02% $3.7m
Holly Bailey
Independent Director7.92yrsUS$44.50k0.82% $2.9m
Robert Cook
Independent Director5.75yrsUS$42.13k0.13% $483.2k
James Zimmer
Independent Director5.75yrsUS$42.13k0.029% $104.5k
Zachary Horn
Independent Director0.25yrno data0.018% $64.6k

6.3yrs

Average Tenure

55yo

Average Age

Experienced Board: FMBH's board of directors are considered experienced (6.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 15.1%.


Top Shareholders

Company Information

First Mid Bancshares, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: First Mid Bancshares, Inc.
  • Ticker: FMBH
  • Exchange: NasdaqGM
  • Founded: 1981
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$359.356m
  • Shares outstanding: 16.70m
  • Website: https://www.firstmid.com

Number of Employees


Location

  • First Mid Bancshares, Inc.
  • 1421 Charleston Avenue
  • Mattoon
  • Illinois
  • 61938
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FMBHNasdaqGM (Nasdaq Global Market)YesCommon StockUSUSDAug 1995

Biography

First Mid Bancshares, Inc., through its subsidiaries, 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; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases. It also offers wealth management services, which include estate planning, investment, and farm management services for individuals; and employee benefit services for business enterprises. In addition, the company provides commercial lines insurance to businesses, as well as homeowner, automobile, health, life, and other types of personal lines insurance to individuals. As of March 4, 2019, it operated through a network of 67 banking centers in Illinois and Missouri, and a loan production office in Indiana. The company was formerly known as First Mid-Illinois Bancshares, Inc. and changed its name to First Mid Bancshares, Inc. in April 2019. First Mid Bancshares, Inc. was incorporated in 1981 and is headquartered in Mattoon, Illinois. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/05 06:31
End of Day Share Price2020/04/03 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.