First Mid Bancshares (FMBH) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Viewpoint - First Mid Bancshares (FMBH) demonstrated strong financial performance in Q2 2024, with significant revenue growth and earnings per share (EPS) slightly above the previous year, indicating positive momentum in the company's operations [1]. Financial Performance - Revenue for the quarter reached $79.19 million, reflecting a 28% increase year-over-year [1]. - EPS was reported at $0.84, a slight increase from $0.83 in the same quarter last year [1]. - The revenue exceeded the Zacks Consensus Estimate of $78.25 million by 1.20% [1]. - The company achieved an EPS surprise of 6.33%, compared to the consensus estimate of $0.79 [1]. Key Financial Metrics - Efficiency Ratio was reported at 59.6%, better than the estimated 64.3% by analysts [3]. - Net Interest Margin stood at 3.4%, slightly above the average estimate of 3.3% [4]. - Average Earning Assets totaled $6.82 billion, slightly below the two-analyst average estimate of $6.89 billion [5]. - Non-interest Income was $22.42 million, marginally below the three-analyst average estimate of $22.47 million [6]. - Other income was reported at $2.10 million, compared to the two-analyst average estimate of $2.20 million [7]. - Net Interest Income (FTE) was $57.36 million, exceeding the estimate of $55.55 million [8]. - Net Interest Income was $56.77 million, also above the estimate of $55.50 million [9]. - ATM/debit card revenue reached $4.28 million, surpassing the average estimate of $4.10 million [10]. - Wealth management revenues were $5.41 million, exceeding the two-analyst average estimate of $5.20 million [11]. - Insurance commissions totaled $6.53 million, slightly below the average estimate of $6.75 million [12]. - Service charges were reported at $3.23 million, above the estimate of $3.05 million [13]. - Mortgage banking revenues were $1.04 million, below the average estimate of $1.10 million [14]. Stock Performance - Shares of First Mid Bancshares have increased by 18.2% over the past month, significantly outperforming the Zacks S&P 500 composite, which saw a change of +1.1% [14]. - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [14].