First Mid Bancshares (NASDAQ:FMBH) Receives “Outperform” Rating from Raymond James

Raymond James reissued their outperform rating on shares of First Mid Bancshares (NASDAQ:FMBH) in a research note published on Friday morning,Benzinga reports. Raymond James currently has a $40.00 price objective on the bank’s stock, down from their previous price objective of $43.00.

Other equities analysts have also recently issued research reports about the stock. Stephens reiterated an “equal weight” rating and issued a $43.00 price objective on shares of First Mid Bancshares in a research note on Friday, January 24th. Hovde Group cut their price target on First Mid Bancshares from $48.00 to $43.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.83.

First Mid Bancshares Stock Up 4.3 %

Shares of First Mid Bancshares stock opened at $35.91 on Friday. First Mid Bancshares has a 1 year low of $27.58 and a 1 year high of $43.86. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.91 and a quick ratio of 0.91. The company has a 50-day moving average of $34.33 and a 200 day moving average of $37.41. The firm has a market cap of $861.19 million, a price-to-earnings ratio of 10.91 and a beta of 0.84.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings data on Wednesday, April 30th. The bank reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. The business had revenue of $85.21 million during the quarter, compared to analyst estimates of $58.29 million. First Mid Bancshares had a net margin of 17.39% and a return on equity of 10.10%. As a group, sell-side analysts anticipate that First Mid Bancshares will post 3.61 earnings per share for the current fiscal year.

First Mid Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Thursday, May 15th. First Mid Bancshares’s payout ratio is presently 28.57%.

Hedge Funds Weigh In On First Mid Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. acquired a new position in First Mid Bancshares during the third quarter valued at $566,000. Barclays PLC increased 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 valued at $1,337,000 after purchasing an additional 26,315 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of First Mid Bancshares by 27.6% during the 4th quarter. Prudential Financial Inc. now owns 10,172 shares of the bank’s stock valued at $375,000 after buying an additional 2,200 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of First Mid Bancshares in the fourth quarter valued at approximately $344,000. Finally, JPMorgan Chase & Co. lifted its holdings in First Mid Bancshares by 24.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 133,132 shares of the bank’s stock valued at $5,180,000 after purchasing an additional 25,855 shares in the last quarter. 47.57% of the stock is owned by hedge funds and other institutional investors.

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.