First Mid Bancshares, Inc. (NASDAQ:FMBH) Sees Large Growth in Short Interest

First Mid Bancshares, Inc. (NASDAQ:FMBH) was the target of a large increase in short interest in December. As of December 15th, there was short interest totalling 112,700 shares, an increase of 7.6% from the November 30th total of 104,700 shares. Based on an average daily volume of 56,400 shares, the short-interest ratio is currently 2.0 days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Quantbot Technologies LP acquired a new stake in shares of First Mid Bancshares during the 3rd quarter worth approximately $84,000. PDT Partners LLC bought a new position in First Mid Bancshares during the 3rd quarter worth $203,000. Centiva Capital LP acquired a new stake in First Mid Bancshares in the third quarter worth $213,000. BNP Paribas Financial Markets lifted its stake in First Mid Bancshares by 33.6% in the third quarter. BNP Paribas Financial Markets now owns 6,001 shares of the bank’s stock valued at $233,000 after buying an additional 1,510 shares during the last quarter. Finally, Choreo LLC boosted its holdings in shares of First Mid Bancshares by 17.9% during the second quarter. Choreo LLC now owns 7,568 shares of the bank’s stock valued at $246,000 after acquiring an additional 1,149 shares during the period. 47.57% of the stock is currently owned by institutional investors.

First Mid Bancshares Price Performance

Shares of NASDAQ FMBH opened at $36.82 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $880.44 million, a price-to-earnings ratio of 11.33 and a beta of 0.91. First Mid Bancshares has a twelve month low of $28.86 and a twelve month high of $43.86. The business has a 50 day simple moving average of $40.22 and a 200-day simple moving average of $38.20.

First Mid Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.24 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.96 annualized dividend and a yield of 2.61%. First Mid Bancshares’s payout ratio is 29.54%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. DA Davidson cut First Mid Bancshares from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $44.00 to $47.00 in a research note on Tuesday, November 12th. Stephens downgraded shares of First Mid Bancshares from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods lifted their price target on shares of First Mid Bancshares from $42.00 to $45.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler increased their price objective on shares of First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

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.