First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $42.50.

A number of equities analysts have commented on the stock. Stephens reaffirmed an “equal weight” rating and issued a $43.00 price objective on shares of First Mid Bancshares in a report on Friday. DA Davidson downgraded shares of First Mid Bancshares from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $44.00 to $47.00 in a research report on Tuesday, November 12th. Piper Sandler increased their price objective on shares of First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Keefe, Bruyette & Woods lifted their target price on First Mid Bancshares from $42.00 to $45.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

First Mid Bancshares Stock Performance

Shares of FMBH stock opened at $37.84 on Friday. The stock has a market capitalization of $904.75 million, a price-to-earnings ratio of 11.64 and a beta of 0.93. First Mid Bancshares has a one year low of $28.86 and a one year high of $43.86. The company’s 50-day simple moving average is $38.91 and its 200-day simple moving average is $38.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 0.91.

First Mid Bancshares (NASDAQ:FMBH) last released its earnings results on Thursday, January 23rd. The bank reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. First Mid Bancshares had a return on equity of 10.38% and a net margin of 17.32%. Equities analysts anticipate that First Mid Bancshares will post 3.42 earnings per share for the current fiscal year.

First Mid Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Thursday, February 13th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.54%. The ex-dividend date is Thursday, February 13th. First Mid Bancshares’s dividend payout ratio (DPR) is 29.54%.

Insider Buying and Selling at First Mid Bancshares

In other First Mid Bancshares news, Director James Edwin Zimmer purchased 1,000 shares of the stock in a transaction dated Thursday, December 19th. The shares were bought at an average cost of $39.87 per share, with a total value of $39,870.00. Following the completion of the acquisition, the director now owns 4,050 shares of the company’s stock, valued at approximately $161,473.50. This trade represents a 32.79 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Mid Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in shares of First Mid Bancshares by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 778,135 shares of the bank’s stock worth $25,584,000 after acquiring an additional 36,769 shares during the period. Wellington Management Group LLP increased its position in shares of First Mid Bancshares by 7.3% during the 3rd quarter. Wellington Management Group LLP now owns 387,926 shares of the bank’s stock valued at $15,094,000 after purchasing an additional 26,560 shares during the period. Barclays PLC raised its stake in shares of First Mid Bancshares by 327.6% in the 3rd quarter. Barclays PLC now owns 34,347 shares of the bank’s stock worth $1,337,000 after buying an additional 26,315 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of First Mid Bancshares by 24.1% in the third quarter. JPMorgan Chase & Co. now owns 133,132 shares of the bank’s stock valued at $5,180,000 after buying an additional 25,855 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in First Mid Bancshares during the third quarter valued at about $869,000. Institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Company Profile

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.