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First Mid BancsharesNasdaqGM:FMBH Stock Report

Market Cap







27 Oct, 2021


Company Financials +
FMBH fundamental analysis
Snowflake Score
Future Growth3/6
Past Performance2/6
Financial Health6/6

FMBH Overview

First Mid Bancshares, Inc., a financial holding company, provides community banking products and services to commercial, retail, and agricultural customers in the United States.

First Mid Bancshares Competitors

Live Oak Bancshares



First BanCorp



Triumph Bancorp



First Merchants



Price History & Performance

Summary of all time highs, changes and price drops for First Mid Bancshares
Historical stock prices
Current Share PriceUS$42.09
52 Week HighUS$25.55
52 Week LowUS$45.00
1 Month Change2.01%
3 Month Change3.70%
1 Year Change55.49%
3 Year Change12.90%
5 Year Change57.05%
Change since IPO879.68%

Recent News & Updates

Shareholder Returns

FMBHUS BanksUS Market

Return vs Industry: FMBH underperformed the US Banks industry which returned 81.9% over the past year.

Return vs Market: FMBH exceeded the US Market which returned 33.4% over the past year.

Price Volatility

Is FMBH's price volatile compared to industry and market?
FMBH volatility
FMBH Beta0.94
Industry Beta1.32
Market Beta1

Stable Share Price: FMBH is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: FMBH's weekly volatility (3%) has been stable over the past year.

About the Company

1981960Joe Dively

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; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.

First Mid Bancshares Fundamentals Summary

How do First Mid Bancshares's earnings and revenue compare to its market cap?
FMBH fundamental statistics
Market CapUS$761.12m
Earnings (TTM)US$41.46m
Revenue (TTM)US$194.56m


P/E Ratio


P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FMBH income statement (TTM)
Cost of RevenueUS$0
Gross ProfitUS$194.56m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date


Earnings per share (EPS)2.29
Gross Margin100.00%
Net Profit Margin21.31%
Debt/Equity Ratio61.5%

How did FMBH perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio


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


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: FMBH ($42.09) is trading below our estimate of fair value ($67.36)

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

Price To Earnings Ratio

PE vs Industry: FMBH is poor value based on its PE Ratio (18.4x) compared to the US Banks industry average (11x).

PE vs Market: FMBH is poor value based on its PE Ratio (18.4x) compared to the US market (18.1x).

Price to Earnings Growth Ratio

PEG Ratio: FMBH is good value based on its PEG Ratio (0.8x)

Price to Book Ratio

PB vs Industry: FMBH's PB Ratio (1.2x) is in line with the US Banks industry average.

Future Growth

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


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: FMBH's forecast earnings growth (24.5% per year) is above the savings rate (2%).

Earnings vs Market: FMBH's earnings (24.5% per year) are forecast to grow faster than the US market (14.7% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: FMBH's revenue (5.8% per year) is forecast to grow slower than the US market (9.9% per year).

High Growth Revenue: FMBH's revenue (5.8% per year) is forecast to grow slower than 20% 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 (9.9%).

Past Performance

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


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: FMBH has high quality earnings.

Growing Profit Margin: FMBH's current net profit margins (21.3%) are lower than last year (26.6%).

Past Earnings Growth Analysis

Earnings Trend: FMBH's earnings have grown by 17.1% per year over the past 5 years.

Accelerating Growth: FMBH's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: FMBH had negative earnings growth (-5.3%) over the past year, making it difficult to compare to the Banks industry average (38.4%).

Return on Equity

High ROE: FMBH's Return on Equity (6.7%) is considered low.

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

Financial Institutions Analysis

Asset Level: FMBH's Assets to Equity ratio (9.4x) is low.

Allowance for Bad Loans: FMBH has a sufficient allowance for bad loans (180%).

Low Risk Liabilities: 92% of FMBH's liabilities are made up of primarily low risk sources of funding.

Loan Level: FMBH has an appropriate level of Loans to Assets ratio (65%).

Low Risk Deposits: FMBH's Loans to Deposits ratio (79%) is appropriate.

Level of Bad Loans: FMBH has an appropriate level of bad loans (0.8%).


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


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: FMBH's dividend (2.09%) is higher than the bottom 25% of dividend payers in the US market (1.28%).

High Dividend: FMBH's dividend (2.09%) is low compared to the top 25% of dividend payers in the US market (3.48%).

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 (34%), 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 (23.9% payout ratio).

Next Steps


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


Average management tenure


Joe Dively (62 yo)





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 (formerly known as First Mid-Illinois Bancshares, Inc.)) sinc...

CEO Compensation Analysis

Compensation vs Market: Joe's total compensation ($USD1.01M) is below average for companies of similar size in the US market ($USD2.26M).

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

Leadership Team

Experienced Management: FMBH's management team is seasoned and experienced (6.6 years average tenure).

Board Members

Experienced Board: FMBH's board of directors are considered experienced (7.3 years average tenure).


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

Insider Trading Volume

Insider Buying: FMBH 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 8.1%.

Top Shareholders

Company Information

First Mid Bancshares, Inc.'s 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$761.119m
  • Shares outstanding: 18.08m
  • Website:

Number of Employees


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


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/27 23:03
End of Day Share Price2021/10/27 00:00
Annual Earnings2020/12/31

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.