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

First Mid Bancshares, Inc. (NASDAQ:FMBH) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 141,500 shares, a decline of 10.3% from the October 15th total of 157,700 shares. Based on an average daily trading volume, of 59,100 shares, the days-to-cover ratio is presently 2.4 days.

First Mid Bancshares Stock Performance

NASDAQ:FMBH traded down $0.48 during trading hours on Tuesday, reaching $41.11. 16,887 shares of the stock were exchanged, compared to its average volume of 58,190. The stock has a market capitalization of $982.94 million, a P/E ratio of 12.65 and a beta of 0.89. The firm has a 50 day simple moving average of $39.20 and a 200-day simple moving average of $36.38. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.41. First Mid Bancshares has a 52 week low of $28.86 and a 52 week high of $43.52.

First Mid Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Thursday, November 14th. First Mid Bancshares’s dividend payout ratio is presently 29.54%.

Institutional Trading of First Mid Bancshares

Several institutional investors have recently added to or reduced their stakes in the business. EntryPoint Capital LLC acquired a new position in shares of First Mid Bancshares in the 1st quarter valued at about $29,000. CWM LLC lifted its holdings in First Mid Bancshares by 344.2% in the second quarter. CWM LLC now owns 884 shares of the bank’s stock worth $29,000 after acquiring an additional 685 shares during the last quarter. Quantbot Technologies LP acquired a new position in First Mid Bancshares in the third quarter valued at approximately $84,000. PDT Partners LLC bought a new position in shares of First Mid Bancshares during the third quarter valued at approximately $203,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of First Mid Bancshares during the 1st quarter worth approximately $208,000. Institutional investors own 47.57% of the company’s stock.

Analysts Set New Price Targets

FMBH has been the subject of several recent analyst reports. Stephens lifted their target price on First Mid Bancshares from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Piper Sandler raised their price objective on First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. DA Davidson lowered First Mid Bancshares from a “buy” rating to a “neutral” rating and upped their target price for the company from $44.00 to $47.00 in a research report on Tuesday, November 12th. Finally, Keefe, Bruyette & Woods downgraded 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. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.00.

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.