Cozad Asset Management Inc. Makes New Investment in First Mid Bancshares, Inc. $FMBH

Cozad Asset Management Inc. purchased a new position in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 102,470 shares of the bank’s stock, valued at approximately $3,842,000. Cozad Asset Management Inc. owned approximately 0.43% of First Mid Bancshares as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. lifted its stake in First Mid Bancshares by 10.2% in the first quarter. American Century Companies Inc. now owns 496,888 shares of the bank’s stock worth $17,341,000 after purchasing an additional 45,831 shares during the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of First Mid Bancshares by 16.2% in the first quarter. Bridgeway Capital Management LLC now owns 123,634 shares of the bank’s stock worth $4,315,000 after buying an additional 17,266 shares during the period. Trexquant Investment LP purchased a new position in shares of First Mid Bancshares in the first quarter worth about $376,000. Nuveen LLC bought a new stake in shares of First Mid Bancshares in the 1st quarter valued at about $1,868,000. Finally, PNC Financial Services Group Inc. purchased a new stake in First Mid Bancshares during the 1st quarter valued at about $26,000. 47.57% of the stock is currently owned by institutional investors.

First Mid Bancshares Price Performance

Shares of First Mid Bancshares stock opened at $37.61 on Friday. The business has a 50 day moving average of $37.16 and a 200 day moving average of $37.61. First Mid Bancshares, Inc. has a 52 week low of $27.58 and a 52 week high of $43.86. The company has a market cap of $902.64 million, a PE ratio of 10.30 and a beta of 0.93. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.37.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings results on Thursday, October 30th. The bank reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The business had revenue of $89.27 million for the quarter, compared to analysts’ expectations of $65.60 million. First Mid Bancshares had a net margin of 18.77% and a return on equity of 10.27%. As a group, equities research analysts forecast that First Mid Bancshares, Inc. will post 3.61 earnings per share for the current year.

First Mid Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.7%. First Mid Bancshares’s payout ratio is currently 27.40%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FMBH. Zacks Research raised First Mid Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. DA Davidson lifted their target price on shares of First Mid Bancshares from $39.00 to $42.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Wall Street Zen upgraded shares of First Mid Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Weiss Ratings lowered shares of First Mid Bancshares from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, Piper Sandler decreased their price objective on shares of First Mid Bancshares from $49.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.17.

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.