First Mid Bancshares, Inc. (FMBH) vs Heritage Financial Corporation (HFWA)
A side-by-side comparison of First Mid Bancshares, Inc. and Heritage Financial Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 6, 2026. Differences are shown without an overall score or investment verdict.
Total return — FMBH vs HFWA
growth of $100 · dividends reinvested · last 10yFMBH vs HFWA: by the numbers
- •FMBH is the larger company ($1.32B vs $1.15B market cap).
- •FMBH trades at the lower trailing earnings multiple (12.35 vs 13.24 P/E), one valuation lens rather than an overall verdict.
- •HFWA converts more revenue to profit (23.17% vs 22.01% net margin).
- •FMBH grew revenue faster over the past five years (15.34% vs 5.82% CAGR).
- •HFWA pays the higher dividend yield (3.48% vs 2.03%).
Metrics side by side
Valuation
| Metric | FMBH | HFWA |
|---|---|---|
| P/E ratio | 12.35 | 13.24 |
| Forward P/E | 11.25 | 14.17 |
| PEG ratio | 1.71 | 1.52 |
| P/S ratio | 2.91 | 3.42 |
| P/B ratio | 1.20 | 1.04 |
Profitability
| Metric | FMBH | HFWA |
|---|---|---|
| Operating margin | 25.12% | 23.15% |
| Net margin | 22.01% | 23.17% |
| ROE | 9.10% | 7.02% |
First Mid Bancshares, Inc.: Gross margin is not shown for a lender or insurer: its revenue is interest, premiums and fees rather than the sale of goods, so there is no cost of goods sold to measure it against.
Heritage Financial Corporation: Gross margin is not shown for a lender or insurer: its revenue is interest, premiums and fees rather than the sale of goods, so there is no cost of goods sold to measure it against.
Dividends
| Metric | FMBH | HFWA |
|---|---|---|
| Dividend yield | 2.03% | 3.48% |
| Payout ratio | 25.06% | 45.97% |
Growth (annualized)
| Metric | FMBH | HFWA |
|---|---|---|
| Revenue CAGR (5Y) | 15.34% | 5.82% |
| EPS CAGR (5Y) | 7.22% | 9.06% |
| Total return CAGR (5Y) | 6.38% | 5.89% |
Frequently asked
- Which has the lower trailing P/E, FMBH or HFWA?
- FMBH has the lower trailing P/E: FMBH trades at 12.35 and HFWA at 13.24. P/E is one valuation measure and does not by itself establish which business is cheaper.
- Which has grown faster, FMBH or HFWA?
- Over the past five years, FMBH grew revenue faster — FMBH at a 15.34% CAGR versus HFWA at 5.82%.
- Does FMBH or HFWA pay a bigger dividend?
- FMBH yields 2.03% and HFWA yields 3.48% based on trailing dividends and the latest price.
- Is FMBH or HFWA more profitable?
- HFWA runs the higher net margin — FMBH at 22.01% versus HFWA at 23.17%.
- How have FMBH and HFWA total returns compared?
- Over the past 10 years, FMBH delivered 9.04% and HFWA delivered 8.02% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
First Mid Bancshares & Heritage Financial appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified October 6, 2026.