First Mid Bancshares
Market Cap
US$359.4m
Last Updated
2020/04/05 06:31 UTC
Data Sources
Company Financials +
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.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -6.6% per year for the next 3 years
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
| FMBH | Industry | Market | |
|---|---|---|---|
| 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 Year | 20.0%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
3 weeks ago | Simply Wall St
How Does First Mid Bancshares's (NASDAQ:FMBH) P/E Compare To Its Industry, After The Share Price Drop?4 weeks ago | Simply Wall St
Here's What We Think About First Mid Bancshares, Inc.'s (NASDAQ:FMBH) CEO Pay1 month ago | Simply Wall St
Can We See Significant Insider Ownership On The First Mid Bancshares, Inc. (NASDAQ:FMBH) Share Register?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
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 6.25yrs | US$884.93k | 0.37% $1.3m | |
| Executive VP & CFO | 3.33yrs | US$381.40k | 0.030% $107.7k | |
| Senior EVP & COO | 2.75yrs | US$495.85k | 0.14% $491.5k | |
| Executive Vp & Chief Credit Officer | 12.25yrs | US$428.43k | 0.16% $569.6k | |
| Executive VP & President and CEO of First Mid Wealth Management | 5.08yrs | US$453.07k | 0.055% $199.2k | |
| Executive VP and Chief Operations & IT Officer | 12yrs | US$261.58k | 0.064% $231.1k | |
| Senior VP & Chief Information Officer | 1.75yrs | no data | 0.0057% $20.6k | |
| SVP & General Counsel | no data | no data | 0.0015% $5.4k | |
| Senior VP & Chief Human Resources Officer | 4.08yrs | no data | 0.022% $79.6k | |
| Senior VP & Chief Risk Officer | 13.25yrs | no data | 0.035% $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
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 6.25yrs | US$884.93k | 0.37% $1.3m | |
| Independent Director | 20.25yrs | US$46.13k | 0.42% $1.5m | |
| Independent Director | 30.25yrs | US$40.50k | 4.13% $14.9m | |
| Lead Independent Director | 6.25yrs | US$50.50k | 1.31% $4.7m | |
| Independent Director | 3.58yrs | US$47.38k | 1.02% $3.7m | |
| Independent Director | 7.92yrs | US$44.50k | 0.82% $2.9m | |
| Independent Director | 5.75yrs | US$42.13k | 0.13% $483.2k | |
| Independent Director | 5.75yrs | US$42.13k | 0.029% $104.5k | |
| Independent Director | 0.25yr | no data | 0.018% $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
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| FMBH | NasdaqGM (Nasdaq Global Market) | Yes | Common Stock | US | USD | Aug 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
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/04/05 06:31 |
| End of Day Share Price | 2020/04/03 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
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.