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First Mid Bancshares

Nasdaq:FMBH
Snowflake Description

Flawless balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FMBH
Nasdaq
$557M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

First Mid Bancshares, Inc., through its subsidiaries, provides community banking products and services to commercial, retail, and agricultural customers in the United States. The last earnings update was 76 days ago. More info.


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FMBH Share Price and Events
7 Day Returns
-1.7%
NasdaqGM:FMBH
-1.1%
US Banks
-1.2%
US Market
1 Year Returns
-18.4%
NasdaqGM:FMBH
-6.5%
US Banks
3.4%
US Market
FMBH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
First Mid Bancshares (FMBH) -1.7% -2.5% 0.2% -18.4% 33.5% 62.9%
US Banks -1.1% 2.7% -0.4% -6.5% 45.1% 45.5%
US Market -1.2% 0.7% 1.7% 3.4% 35.5% 41.6%
1 Year Return vs Industry and Market
  • FMBH underperformed the Banks industry which returned -6.5% over the past year.
  • FMBH underperformed the Market in United States of America which returned 3.4% over the past year.
Price Volatility
FMBH
Industry
5yr Volatility vs Market

Value

 Is First Mid Bancshares undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of First Mid Bancshares to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for First Mid Bancshares.

NasdaqGM:FMBH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 6 analysts.
= Stable Book Value * Return on Equity
= $32.24 * 9.8%
$3.15
Book Value of Equity per Share Weighted future Book Value estimates from 6 analysts. $32.24
Discount Rate (Cost of Equity) See below 8.2%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGM:FMBH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.6
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.597 (1 + (1- 21%) (58.61%))
0.915
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.91
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.915 * 5.96%)
8.18%

Discounted Cash Flow Calculation for NasdaqGM:FMBH using Excess Returns Model Model

The calculations below outline how an intrinsic value for First Mid Bancshares is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGM:FMBH Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.8% – 8.18%) * $32.24)
$0.51
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.51 / (8.18% - 2.73%)
$9.39
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $32.24 + $9.39
$41.62
NasdaqGM:FMBH Discount to Share Price
Calculation Result
Value per share (USD) From above. $41.62
Current discount Discount to share price of $33.39
= -1 x ($33.39 - $41.62) / $41.62
19.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price First Mid Bancshares is available for.
Intrinsic value
20%
Share price is $33.39 vs Future cash flow value of $41.62
Current Discount Checks
For First Mid Bancshares to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • First Mid Bancshares's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • First Mid Bancshares's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for First Mid Bancshares's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are First Mid Bancshares's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGM:FMBH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $2.68
NasdaqGM:FMBH Share Price ** NasdaqGM (2019-07-19) in USD $33.39
United States of America Banks Industry PE Ratio Median Figure of 594 Publicly-Listed Banks Companies 12.72x
United States of America Market PE Ratio Median Figure of 3,081 Publicly-Listed Companies 17.87x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of First Mid Bancshares.

NasdaqGM:FMBH PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGM:FMBH Share Price ÷ EPS (both in USD)

= 33.39 ÷ 2.68

12.45x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Mid Bancshares is good value based on earnings compared to the US Banks industry average.
  • First Mid Bancshares is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does First Mid Bancshares's expected growth come at a high price?
Raw Data
NasdaqGM:FMBH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.45x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
5.6%per year
United States of America Banks Industry PEG Ratio Median Figure of 271 Publicly-Listed Banks Companies 1.2x
United States of America Market PEG Ratio Median Figure of 2,119 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

NasdaqGM:FMBH PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.45x ÷ 5.6%

2.22x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Mid Bancshares is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on First Mid Bancshares's assets?
Raw Data
NasdaqGM:FMBH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $29.81
NasdaqGM:FMBH Share Price * NasdaqGM (2019-07-19) in USD $33.39
United States of America Banks Industry PB Ratio Median Figure of 594 Publicly-Listed Banks Companies 1.2x
United States of America Market PB Ratio Median Figure of 5,247 Publicly-Listed Companies 1.79x
NasdaqGM:FMBH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGM:FMBH Share Price ÷ Book Value per Share (both in USD)

= 33.39 ÷ 29.81

1.12x

* Primary Listing of First Mid Bancshares.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Mid Bancshares is good value based on assets compared to the US Banks industry average.
X
Value checks
We assess First Mid Bancshares's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. First Mid Bancshares has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

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

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is First Mid Bancshares expected to grow at an attractive rate?
  • First Mid Bancshares's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • First Mid Bancshares's earnings growth is positive but not above the United States of America market average.
  • First Mid Bancshares's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGM:FMBH Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGM:FMBH Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 5.6%
NasdaqGM:FMBH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts -3.5%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 1.8%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGM:FMBH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGM:FMBH Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 132 50 6
2019-12-31 130 50 6
NasdaqGM:FMBH Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 155 49 42
2018-12-31 138 42 37
2018-09-30 127 40 31
2018-06-30 120 40 31
2018-03-31 117 45 29
2017-12-31 115 46 27
2017-09-30 115 45 29
2017-06-30 110 39 27
2017-03-31 101 34 23
2016-12-31 95 27 21
2016-09-30 89 25 18
2016-06-30 84 27 16

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • First Mid Bancshares's earnings are expected to grow by 5.6% yearly, however this is not considered high growth (20% yearly).
  • First Mid Bancshares's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGM:FMBH Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from First Mid Bancshares Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:FMBH Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 3.02 3.26 2.82 6.00
2019-12-31 2.98 3.09 2.89 6.00
NasdaqGM:FMBH Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 2.68
2018-12-31 2.53
2018-09-30 2.29
2018-06-30 2.37
2018-03-31 2.29
2017-12-31 2.13
2017-09-30 2.31
2017-06-30 2.22
2017-03-31 2.06
2016-12-31 2.07
2016-09-30 2.00
2016-06-30 1.87

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if First Mid Bancshares will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess First Mid Bancshares's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
First Mid Bancshares has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare First Mid Bancshares's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • First Mid Bancshares has delivered over 20% year on year earnings growth in the past 5 years.
  • First Mid Bancshares's 1-year earnings growth exceeds its 5-year average (44.1% vs 28%)
  • First Mid Bancshares's earnings growth has exceeded the US Banks industry average in the past year (44.1% vs 37.7%).
Earnings and Revenue History
First Mid Bancshares's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from First Mid Bancshares Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:FMBH Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 154.80 41.53 77.13
2018-12-31 138.49 36.60 69.34
2018-09-30 127.29 31.29 64.27
2018-06-30 120.37 30.65 61.43
2018-03-31 116.52 28.81 59.11
2017-12-31 115.44 26.68 58.32
2017-09-30 114.70 28.86 56.38
2017-06-30 109.60 26.57 54.15
2017-03-31 101.22 23.02 51.17
2016-12-31 95.29 21.02 49.47
2016-09-30 89.32 18.32 47.61
2016-06-30 84.41 16.13 45.77
2016-03-31 80.45 15.08 43.41
2015-12-31 74.98 14.31 39.73
2015-09-30 70.89 13.28 37.79
2015-06-30 69.73 12.98 36.90
2015-03-31 69.66 12.30 36.92
2014-12-31 69.22 11.31 37.11
2014-09-30 68.39 10.75 36.75
2014-06-30 68.37 10.75 36.85
2014-03-31 67.50 10.38 36.66
2013-12-31 67.07 10.31 36.25
2013-09-30 66.92 10.20 36.09
2013-06-30 65.99 9.93 35.58
2013-03-31 65.53 9.75 35.32
2012-12-31 65.27 9.77 35.24
2012-09-30 64.82 9.70 34.82

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • First Mid Bancshares has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • First Mid Bancshares used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if First Mid Bancshares improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess First Mid Bancshares's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
First Mid Bancshares has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

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

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of First Mid Bancshares's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from First Mid Bancshares Company Filings, last reported 3 months ago.

NasdaqGM:FMBH Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 497.15 312.85 239.87
2018-12-31 475.86 348.80 134.41
2018-09-30 416.83 278.07 66.67
2018-06-30 411.33 275.54 88.51
2018-03-31 310.59 225.86 56.52
2017-12-31 307.96 249.74 81.62
2017-09-30 311.43 258.64 71.33
2017-06-30 300.89 223.62 75.57
2017-03-31 290.74 221.01 114.94
2016-12-31 280.67 267.84 173.90
2016-09-30 287.27 223.43 149.31
2016-06-30 216.62 191.72 83.38
2016-03-31 212.03 157.31 114.43
2015-12-31 205.01 169.46 132.61
2015-09-30 203.81 149.12 228.39
2015-06-30 197.90 163.09 46.33
2015-03-31 170.80 164.22 55.97
2014-12-31 164.92 162.49 47.83
2014-09-30 161.69 123.69 57.57
2014-06-30 158.62 125.78 57.54
2014-03-31 153.88 112.90 72.59
2013-12-31 149.38 159.81 63.52
2013-09-30 150.59 123.73 31.98
2013-06-30 148.95 127.81 33.86
2013-03-31 157.10 101.99 72.63
2012-12-31 156.69 139.10 88.24
2012-09-30 157.69 142.24 54.23
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • First Mid Bancshares has an acceptable proportion of non-loan assets held.
  • First Mid Bancshares's liabilities are made up of primarily low risk sources of funding.
  • Loans at First Mid Bancshares are broadly funded by customer deposits.
  • First Mid Bancshares's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • First Mid Bancshares has a sufficient allowance for bad loans.
  • First Mid Bancshares has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess First Mid Bancshares's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. First Mid Bancshares has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.16%
Current annual income from First Mid Bancshares dividends. Estimated to be 2.49% next year.
If you bought $2,000 of First Mid Bancshares shares you are expected to receive $43 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • First Mid Bancshares's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • First Mid Bancshares's dividend is below the markets top 25% of dividend payers in United States of America (3.78%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGM:FMBH Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 480 Stocks 3.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGM:FMBH Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.78 5.00
2019-12-31 0.88 5.00
NasdaqGM:FMBH Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-05 0.720 2.118
2019-01-24 0.720 2.105
2018-11-09 0.720 2.122
2018-10-25 0.720 1.940
2018-08-07 0.680 1.711
2018-07-26 0.680 1.677
2017-10-25 0.660 1.735
2017-05-04 0.480 1.351
2017-03-06 0.460 1.392
2017-01-26 0.460 1.411
2016-11-09 0.600 1.868
2016-10-27 0.600 2.238
2016-04-28 0.600 2.366
2016-03-04 0.600 2.388
2016-01-29 0.600 2.344
2015-12-17 0.580 2.222
2015-11-09 0.580 2.475
2015-11-03 0.580 2.625
2015-04-30 0.580 2.693
2014-10-29 0.580 2.970
2014-05-05 0.520 2.495
2014-03-07 0.500 2.342
2014-01-30 0.500 2.246
2013-11-25 0.420 1.898
2013-10-28 0.420 1.880
2013-08-16 0.420 1.899
2013-07-29 0.420 1.851
2013-03-12 0.420 1.839
2013-01-28 0.420 1.798
2012-11-08 0.420 1.817
2012-08-09 0.420 1.680
2012-07-27 0.420 1.666
2012-03-07 0.420 1.807
2012-01-27 0.420 2.014
2011-11-10 0.380 2.024
2011-11-01 0.380 2.044
2011-08-08 0.380 2.083
2011-07-29 0.380 2.097
2011-03-04 0.380 2.074
2011-02-04 0.380 2.081
2010-11-24 0.380 2.158
2010-10-29 0.380 2.085
2010-08-06 0.380 2.115
2010-03-25 0.380 2.141
2010-02-10 0.380 2.241
2009-11-06 0.380 2.090
2009-11-04 0.380 1.932
2009-08-18 0.380 2.041
2009-08-04 0.380 2.141
2009-03-05 0.380 2.090
2009-02-03 0.380 1.931
2008-11-06 0.380 1.795
2008-10-21 0.380 1.523
2008-08-08 0.380 1.473
2008-07-28 0.380 1.457

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of First Mid Bancshares's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.8x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess First Mid Bancshares's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can First Mid Bancshares afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. First Mid Bancshares has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of First Mid Bancshares's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Joe Dively
COMPENSATION $1,053,180
AGE 60
TENURE AS CEO 5.5 years
CEO Bio

Mr. Joseph R. Dively, also known as Joe, has been the Chairman of the Board, Chief Executive Officer and President of First Mid-Illinois Bancshares, Inc. since January 1, 2014 and served as its Senior Executive Vice President from May 06, 2011 to December 31, 2013. Mr. Dively has also been the President of First Mid Bank & Trust, National Association ("Bank") since May 06, 2011 and serves as its Chairman of the Board and Chief Executive Officer. Mr. Dively served as Senior Vice President of Consolidated Communications Holdings Inc. since 2003 until May 6, 2011 and served as its President of Illinois Telephone Operations until May 6, 2011. Mr. Dively served as Senior Vice President and President of Illinois Telephone Operations of Consolidated Communications, Inc., a subsidiary of Consolidated Communications Illinois Holdings Inc. since 2002 until May 6, 2011. He served as President of the Charleston Area Chamber of Commerce. From 1999 to 2002, Mr. Dively served as Vice President and General Manager of ICTC. In 2001, Mr. Dively also assumed responsibility for the then existing non-regulated subsidiaries of the predecessor of CCI, including Operator Services, Public Services and Market Response. From 1997 to 1999, Mr. Dively served as Senior Vice President of Sales of McLeodUSA. Mr. Dively joined the predecessor of CCI in 1991 and served in various capacities through its acquisition in 1997, including Vice President and General Manager of Consolidated Market Response and Vice President of Sales and Marketing of Consolidated Communications. Prior to joining Consolidated Communications in 1991, Mr. Dively held a variety of sales and marketing positions at IBM and Caterpillar Tractor. He has been a Director of First Mid-illinois Bancshares, Inc. and its subsidiary, Bank since August 24, 2004. Since 2009, he has been a member of the Boards of Directors of Mid-Illinois Data Services, Inc. and The Checkley Agency, Inc., which does business as First Mid Insurance Group. Mr. Dively serves as Director of United States Telecom Association. Mr. Dively has served as the Chairman of the Illinois Chamber of Commerce, Chairman of Sarah Bush Lincoln Health Center and as the Chair of the Business School Advisory Board at Eastern Illinois University. Mr. Dively has a bachelor's degree in business administration from Eastern Illinois University and has completed executive education courses at Harvard University and The University of Chicago, Graduate School of Business.

CEO Compensation
  • Joe's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.
  • Joe's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the First Mid Bancshares management team in years:

3.8
Average Tenure
52
Average Age
  • The tenure for the First Mid Bancshares management team is about average.
Management Team

Joe Dively

TITLE
Chairman
COMPENSATION
$1M
AGE
60
TENURE
5.5 yrs

Matt Smith

TITLE
Executive VP & CFO
COMPENSATION
$395K
AGE
44
TENURE
2.6 yrs

Mike Taylor

TITLE
Senior EVP & COO
COMPENSATION
$537K
AGE
50
TENURE
2 yrs

Eric McRae

TITLE
Executive Vice President
COMPENSATION
$508K
AGE
54
TENURE
11.5 yrs

Brad Beesley

TITLE
Executive VP & President and CEO of First Mid Wealth Management
COMPENSATION
$473K
AGE
47
TENURE
4.3 yrs

David Hiden

TITLE
Senior VP & Chief Information Officer
AGE
57
TENURE
1 yrs

Aaron Holt

TITLE
VP, Shareholder Relations

Laura ZuHone

TITLE
VP & Director of Marketing

Rhonda Gatons

TITLE
Senior VP & Director of Human Resources
AGE
47
TENURE
3.3 yrs

Laurel Allenbaugh

TITLE
Executive Vice President
COMPENSATION
$262K
AGE
59
TENURE
11.3 yrs
Board of Directors Tenure

Average tenure and age of the First Mid Bancshares board of directors in years:

5.5
Average Tenure
57.5
Average Age
  • The tenure for the First Mid Bancshares board of directors is about average.
Board of Directors

Joe Dively

TITLE
Chairman
COMPENSATION
$1M
AGE
60
TENURE
5.5 yrs

Ray Sparks

TITLE
Lead Independent Director
COMPENSATION
$48K
AGE
62
TENURE
5.5 yrs

Holly Bailey

TITLE
Director
COMPENSATION
$42K
AGE
48
TENURE
7.2 yrs

Steve Grissom

TITLE
Director
COMPENSATION
$43K
AGE
66
TENURE
19.5 yrs

Gary Melvin

TITLE
Director
COMPENSATION
$38K
AGE
70
TENURE
29.5 yrs

Rob Cook

TITLE
Director
COMPENSATION
$40K
AGE
36
TENURE
5 yrs

Jim Zimmer

TITLE
Director
COMPENSATION
$40K
AGE
55
TENURE
5 yrs

Mary Westerhold

TITLE
Director
COMPENSATION
$42K
AGE
53
TENURE
2.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
08. Aug 18 Sell Michael Taylor Individual 08. Aug 18 08. Aug 18 -2,500 $40.45 $-101,125
02. Aug 18 Sell Laurel Allenbaugh Individual 01. Aug 18 01. Aug 18 -2,500 $40.36 $-100,900
X
Management checks
We assess First Mid Bancshares's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. First Mid Bancshares has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

How Does First Mid Bancshares, Inc. (NASDAQ:FMBH) Fare As A Dividend Stock?

Unfortunately, it's common for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments. … NasdaqGM:FMBH Historical Dividend Yield, July 8th 2019 Payout ratios Dividends are typically paid from company earnings. … Conclusion To summarise, shareholders should always check that First Mid Bancshares's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend.

Simply Wall St -

Does First Mid Bancshares, Inc.'s (NASDAQ:FMBH) P/E Ratio Signal A Buying Opportunity?

The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for First Mid Bancshares: P/E of 12.59 = $33.76 ÷ $2.68 (Based on the year to March 2019.) Is A High Price-to-Earnings Ratio Good? … A higher P/E ratio means that investors are paying a higher price for each $1 of company earnings. … Hypothetically, a company could reduce its future P/E ratio by spending its cash (or taking on debt) to achieve higher earnings.

Simply Wall St -

What Percentage Of First Mid Bancshares, Inc. (NASDAQ:FMBH) Shares Do Insiders Own?

As Charlie Munger said 'Show me the incentive and I will show you the outcome.' First Mid Bancshares is a smaller company with a market capitalization of US$557m, so it may still be flying under the radar of many institutional investors. … Our analysis of the ownership of the company, below, shows that institutional investors have bought into the company. … Check out our latest analysis for First Mid Bancshares NasdaqGM:FMBH Ownership Summary, June 3rd 2019 What Does The Institutional Ownership Tell Us About First Mid Bancshares?

Simply Wall St -

Here's Why I Think First Mid Bancshares (NASDAQ:FMBH) Might Deserve Your Attention Today

In the age of tech-stock blue-sky investing, my choice may seem old fashioned; I still prefer profitable companies like First Mid Bancshares (NASDAQ:FMBH). … View our latest analysis for First Mid Bancshares How Fast Is First Mid Bancshares Growing? … The good news, alongside the insider buying, for First Mid Bancshares bulls is that insiders (collectively) have a meaningful investment in the stock.

Simply Wall St -

Who Has Been Buying First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) Shares?

So we'll take a look at whether insiders have been buying or selling shares in First Mid-Illinois Bancshares, Inc. … That means that even when the share price was higher than US$35.41 (the recent price), an insider wanted to purchase shares. … We always take careful note of the price insiders pay when purchasing shares.

Simply Wall St -

Does First Mid-Illinois Bancshares's (NASDAQ:FMBH) Share Price Gain of 57% Match Its Business Performance?

One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During five years of share price growth, First Mid-Illinois Bancshares achieved compound earnings per share (EPS) growth of 7.8% per year. … That suggests that the market sentiment around the company hasn't changed much over that time.

Simply Wall St -

Have You Considered These Key Risks For First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH)?

Risk associated with repayment is measured by bad debt which is written off as an expense, impacting First Mid-Illinois Bancshares’s bottom line. … Looking through a risk-lens is a useful way to assess the attractiveness of First Mid-Illinois Bancshares's a stock investment. … View our latest analysis for First Mid-Illinois Bancshares

Simply Wall St -

Can First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) Survive The Next Financial Crisis?

As a small-cap finance stock with a market capitalisation of US$595m, the risk and profitability of First Mid-Illinois Bancshares, Inc. … The Basel III reforms are aimed at banking regulations to improve financial institutions’ ability to absorb shocks caused by economic stress which could expose banks like First Mid-Illinois Bancshares to vulnerabilities. … Low levels of leverage coupled with sufficient liquidity may place First Mid-Illinois Bancshares in a safe position in the face of adverse headwinds.

Simply Wall St -

Could The First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) Ownership Structure Tell Us Something Useful?

Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … First Mid-Illinois Bancshares is a smaller company with a market capitalization of US$595m, so it may still be flying under the radar of many institutional investors. … Taking a look at our data on the ownership groups (below), it's seems that.

Simply Wall St -

Don't Sell First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) Before You Read This

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … We'll look at First Mid-Illinois Bancshares, Inc.'s (NASDAQ:FMBH) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Company Info

Description

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.

Details
Name: First Mid Bancshares, Inc.
FMBH
Exchange: NasdaqGM
Founded: 1981
$556,849,303
16,677,128
Website: http://www.firstmid.com
Address: First Mid Bancshares, Inc.
1421 Charleston Avenue,
Mattoon,
Illinois, 61938,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGM FMBH Common Stock Nasdaq Global Market US USD 04. Aug 1995
Number of employees
Current staff
Staff numbers
832
First Mid Bancshares employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/22 01:52
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/07/09
Last earnings filing: 2019/05/07
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.