Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

First Mid Bancshares, Inc. (FMBH)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$85.84 - $229.15$131.51
Multi-Stage$58.80 - $64.24$61.47
Blended Fair Value$96.49
Current Price$37.88
Upside154.73%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS13.53%23.79%0.930.820.740.610.530.500.370.300.220.15
YoY Growth--14.39%9.69%21.12%14.88%8.02%34.93%21.64%36.97%51.33%31.68%
Dividend Yield--2.68%2.57%2.73%1.60%1.22%2.09%1.10%0.83%0.65%0.60%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)87.24
(-) Cash Dividends Paid (M)23.14
(=) Cash Retained (M)64.10
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)17.4510.906.54
Cash Retained (M)64.1064.1064.10
(-) Cash Required (M)-17.45-10.90-6.54
(=) Excess Retained (M)46.6553.2057.56
(/) Shares Outstanding (M)23.9623.9623.96
(=) Excess Retained per Share1.952.222.40
LTM Dividend per Share0.970.970.97
(+) Excess Retained per Share1.952.222.40
(=) Adjusted Dividend2.913.193.37
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate5.50%6.50%7.50%
Fair Value$85.84$131.51$229.15
Upside / Downside126.61%247.19%504.95%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)87.2492.9198.95105.38112.23119.52123.11
Payout Ratio26.52%39.22%51.91%64.61%77.30%90.00%92.50%
Projected Dividends (M)23.1436.4451.3768.0986.76107.57113.88

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)33.0933.4033.72
Year 2 PV (M)42.3743.1743.99
Year 3 PV (M)51.0052.4653.95
Year 4 PV (M)59.0161.2863.62
Year 5 PV (M)66.4569.6672.99
PV of Terminal Value (M)1,156.971,212.851,270.87
Equity Value (M)1,408.891,472.831,539.14
Shares Outstanding (M)23.9623.9623.96
Fair Value$58.80$61.47$64.24
Upside / Downside55.23%62.28%69.59%

High-Yield Dividend Screener

« Prev Page 7 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
PLYMPlymouth Industrial REIT, Inc.4.80%$1.0549.94%
SAFTSafety Insurance Group, Inc.4.80%$3.6361.47%
CETCentral Securities Corp.4.79%$2.4313.87%
GBLIGlobal Indemnity Group, LLC4.79%$1.3870.11%
JANIXJanus Henderson Triton Fund Class D4.79%$1.2767.95%
MITNAG Mortgage Investment Trust, Inc. 9.500% Senior Notes due 20294.77%$1.2175.90%
PRUPrudential Financial, Inc.4.77%$5.4373.37%
IFAFXThe Income Fund of America, Class F-1 Shares4.76%$1.2433.91%
AMECXAmerican Funds The Income Fund of America Class A4.74%$1.2433.91%
UMPQUmpqua Holdings Corporation4.74%$0.8454.13%
NFBKNorthfield Bancorp, Inc.4.73%$0.5454.01%
SBSISouthside Bancshares, Inc.4.72%$1.4462.24%
TNLTravel + Leisure Co.4.72%$3.4054.99%
AIRCApartment Income REIT Corp.4.68%$1.8341.27%
SONSonoco Products Company4.68%$2.0832.95%
OFLXOmega Flex, Inc.4.67%$1.3685.30%
FTAIOFTAI Aviation Ltd.4.65%$1.1825.22%
WDWalker & Dunlop, Inc.4.65%$2.7379.29%
0J2Z.LHA Sustainable Infrastructure Capital, Inc.4.63%$1.4766.70%
FLMNFalcon Minerals Corporation4.63%$0.3681.83%
GSRMGSR II Meteora Acquisition Corp.4.62%$0.1532.94%
FBFWXAmerican Funds Retirement Income Portfolio - Moderate Class F-14.61%$0.6379.77%
GPSThe Gap, Inc.4.61%$0.9341.48%
QUADQuad/Graphics, Inc.4.61%$0.2764.56%
BMYBristol-Myers Squibb Company4.59%$2.4582.81%
WTBAWest Bancorporation, Inc.4.56%$0.9952.39%
SCPLSciPlay Corporation4.55%$1.0417.40%
OLPOne Liberty Properties, Inc.4.53%$0.9257.61%
RWAYLRunway Growth Finance Corp. - 74.53%$1.1475.51%
INSWInternational Seaways, Inc.4.52%$2.1248.43%
RWAYZRunway Growth Finance Corp. 8.00% Notes due 20274.52%$1.1475.51%
DDominion Energy, Inc.4.48%$2.6597.13%
TGTTarget Corporation4.48%$4.5054.48%
COLBColumbia Banking System, Inc.4.47%$1.2662.95%
DFPAXBNY Mellon Diversified International Fund Class A4.46%$0.4556.12%
KEYKeyCorp4.46%$0.9495.81%
RPTIXT. Rowe Price Mid-Cap Growth Fund4.46%$4.3859.54%
CGBDCarlyle Secured Lending, Inc.4.45%$0.5655.08%
NEWTPNewtekOne, Inc. Depositary Shares, Non-Cumulative Perpetual Preferred Stock, Series B4.44%$1.0244.14%
PFCPremier Financial Corp.4.43%$1.2468.07%
BFCBank First Corporation4.40%$5.3073.82%
DUKDuke Energy Corporation4.40%$5.1780.55%
0L77.LSkyworks Solutions, Inc.4.37%$2.7990.67%
ESCAEscalade, Incorporated4.35%$0.6065.28%
DINOHF Sinclair Corporation4.34%$2.0396.43%
LBAILakeland Bancorp, Inc.4.34%$0.5844.96%
CVXChevron Corporation4.32%$6.7495.36%
CVBFCVB Financial Corp.4.31%$0.8154.32%
HTBKHeritage Commerce Corp4.30%$0.5273.66%
EQREquity Residential4.28%$2.6689.76%