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

First Mid Bancshares, Inc. (NASDAQ:FMBH) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $42.80.

A number of research analysts have issued reports on FMBH shares. Zacks Research lowered shares of First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Piper Sandler dropped their price objective on First Mid Bancshares from $49.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of First Mid Bancshares in a report on Monday, December 29th.

First Mid Bancshares Stock Performance

FMBH opened at $39.62 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.93 and a quick ratio of 0.93. The business has a fifty day simple moving average of $38.98 and a 200 day simple moving average of $38.59. First Mid Bancshares has a 1 year low of $27.58 and a 1 year high of $42.85. The company has a market capitalization of $950.88 million, a PE ratio of 10.85 and a beta of 0.90.

First Mid Bancshares (NASDAQ:FMBH) last posted its earnings results on Thursday, October 30th. The bank reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. First Mid Bancshares had a return on equity of 10.27% and a net margin of 18.77%.The company had revenue of $89.27 million during the quarter, compared to the consensus estimate of $65.60 million. Research analysts expect that First Mid Bancshares will post 3.61 EPS for the current year.

First Mid Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were given a $0.25 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.5%. First Mid Bancshares’s payout ratio is presently 27.40%.

Insider Activity

In related news, CEO Clay M. Dean sold 1,099 shares of First Mid Bancshares stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $42.69, for a total value of $46,916.31. Following the transaction, the chief executive officer directly owned 9,624 shares of the company’s stock, valued at $410,848.56. This trade represents a 10.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On First Mid Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Trexquant Investment LP acquired a new position in shares of First Mid Bancshares during the 1st quarter worth $376,000. State of Wyoming raised its stake in First Mid Bancshares by 33.4% during the first quarter. State of Wyoming now owns 1,410 shares of the bank’s stock worth $49,000 after acquiring an additional 353 shares in the last quarter. AQR Capital Management LLC raised its stake in First Mid Bancshares by 256.9% during the first quarter. AQR Capital Management LLC now owns 105,648 shares of the bank’s stock worth $3,687,000 after acquiring an additional 76,050 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of First Mid Bancshares by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,566 shares of the bank’s stock worth $473,000 after acquiring an additional 550 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of First Mid Bancshares by 1,662.9% in the 1st quarter. Jones Financial Companies Lllp now owns 4,231 shares of the bank’s stock valued at $148,000 after purchasing an additional 3,991 shares in the last quarter. 47.57% of the stock is currently owned by institutional investors.

About First Mid Bancshares

First Mid Bancshares, Inc (NASDAQ: FMBH), headquartered in Mattoon, Illinois, is a financial services holding company that offers a comprehensive suite of banking products and services through its main subsidiary, First Mid Bank & Trust. The company’s primary business activities include commercial and retail banking, mortgage origination and servicing, wealth management and trust administration, as well as treasury and cash management solutions.

Through its branch network, First Mid provides consumer deposit products such as checking and savings accounts, certificates of deposit and online banking services.