First Mid Bancshares (NASDAQ:FMBH) Upgraded at StockNews.com

StockNews.com upgraded shares of First Mid Bancshares (NASDAQ:FMBHGet Rating) from a hold rating to a buy rating in a research report released on Tuesday.

Separately, Zacks Investment Research upgraded First Mid Bancshares from a hold rating to a buy rating and set a $43.00 price target for the company in a research note on Tuesday, April 5th.

Shares of NASDAQ FMBH opened at $36.43 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $744.96 million, a P/E ratio of 10.47 and a beta of 0.88. First Mid Bancshares has a 1-year low of $35.65 and a 1-year high of $45.84. The business has a fifty day moving average price of $38.26 and a 200 day moving average price of $40.99.

First Mid Bancshares (NASDAQ:FMBHGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The bank reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.07. First Mid Bancshares had a return on equity of 11.70% and a net margin of 24.32%. As a group, equities research analysts anticipate that First Mid Bancshares will post 3.69 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Wednesday, May 18th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Tuesday, May 17th. First Mid Bancshares’s payout ratio is 25.29%.

Large investors have recently made changes to their positions in the company. Allworth Financial LP purchased a new position in shares of First Mid Bancshares in the first quarter worth about $29,000. Cornerstone Advisory LLC purchased a new position in shares of First Mid Bancshares in the fourth quarter worth about $38,000. Royal Bank of Canada raised its stake in shares of First Mid Bancshares by 61.9% in the third quarter. Royal Bank of Canada now owns 1,844 shares of the bank’s stock worth $76,000 after purchasing an additional 705 shares during the last quarter. Citigroup Inc. raised its stake in shares of First Mid Bancshares by 89.7% in the third quarter. Citigroup Inc. now owns 2,145 shares of the bank’s stock worth $88,000 after purchasing an additional 1,014 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV grew its holdings in First Mid Bancshares by 10.3% during the first quarter. Creative Financial Designs Inc. ADV now owns 3,833 shares of the bank’s stock worth $148,000 after acquiring an additional 359 shares during the period. Hedge funds and other institutional investors own 31.35% of the company’s stock.

First Mid Bancshares Company Profile (Get Rating)

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.

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