Short Interest in First Mid Bancshares, Inc. (NASDAQ:FMBH) Decreases By 15.3%

First Mid Bancshares, Inc. (NASDAQ:FMBH) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 157,700 shares, a drop of 15.3% from the September 30th total of 186,200 shares. Based on an average trading volume of 62,500 shares, the short-interest ratio is currently 2.5 days.

First Mid Bancshares Trading Up 1.0 %

NASDAQ FMBH opened at $39.08 on Thursday. The firm has a market capitalization of $933.86 million, a price-to-earnings ratio of 12.61 and a beta of 0.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.91 and a current ratio of 0.91. First Mid Bancshares has a one year low of $27.02 and a one year high of $41.02. The company’s 50 day moving average price is $38.88 and its 200 day moving average price is $35.45.

First Mid Bancshares (NASDAQ:FMBH) last posted its earnings results on Thursday, August 1st. The bank reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.05. First Mid Bancshares had a net margin of 16.75% and a return on equity of 10.43%. The business had revenue of $79.19 million for the quarter, compared to analyst estimates of $78.25 million. On average, sell-side analysts predict that First Mid Bancshares will post 3.47 EPS for the current year.

Institutional Investors Weigh In On First Mid Bancshares

A number of large investors have recently modified their holdings of the stock. Victory Capital Management Inc. grew its position in First Mid Bancshares by 2.2% in the second quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank’s stock valued at $998,000 after acquiring an additional 650 shares in the last quarter. CWM LLC grew its holdings in First Mid Bancshares by 344.2% during the 2nd quarter. CWM LLC now owns 884 shares of the bank’s stock valued at $29,000 after purchasing an additional 685 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in First Mid Bancshares during the 1st quarter worth $29,000. Rhumbline Advisers lifted its holdings in First Mid Bancshares by 3.3% in the 2nd quarter. Rhumbline Advisers now owns 33,272 shares of the bank’s stock worth $1,094,000 after buying an additional 1,049 shares in the last quarter. Finally, Choreo LLC boosted its position in First Mid Bancshares by 17.9% in the 2nd quarter. Choreo LLC now owns 7,568 shares of the bank’s stock valued at $246,000 after buying an additional 1,149 shares during the last quarter. Institutional investors and hedge funds own 47.57% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lowered shares of First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 price target for the company. in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, First Mid Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $38.20.

About First Mid Bancshares

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, as well as construction and land development, 1-4 family residential properties, and multifamily residential properties loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.