Rhino Investment Partners Inc Has $6.49 Million Stock Holdings in First Mid Bancshares, Inc. $FMBH

Rhino Investment Partners Inc lifted its position in First Mid Bancshares, Inc. (NASDAQ:FMBH) by 23.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 157,581 shares of the bank’s stock after purchasing an additional 29,579 shares during the quarter. First Mid Bancshares accounts for approximately 1.8% of Rhino Investment Partners Inc’s holdings, making the stock its 24th biggest holding. Rhino Investment Partners Inc’s holdings in First Mid Bancshares were worth $6,491,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FMBH. Clearstead Advisors LLC lifted its holdings in First Mid Bancshares by 147.2% during the 4th quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock valued at $33,000 after purchasing an additional 505 shares during the last quarter. Strs Ohio bought a new stake in First Mid Bancshares during the first quarter worth about $42,000. Aquatic Capital Management LLC grew its stake in First Mid Bancshares by 272.5% during the third quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank’s stock worth $54,000 after buying an additional 1,052 shares during the last quarter. Federated Hermes Inc. grew its stake in First Mid Bancshares by 32.0% during the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock worth $64,000 after buying an additional 415 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in shares of First Mid Bancshares by 113.0% during the second quarter. Quantbot Technologies LP now owns 2,394 shares of the bank’s stock worth $90,000 after buying an additional 1,270 shares in the last quarter. Institutional investors and hedge funds own 47.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FMBH shares. Weiss Ratings reiterated a “buy (b)” rating on shares of First Mid Bancshares in a research note on Friday, May 1st. DA Davidson increased their price target on First Mid Bancshares from $47.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday. Piper Sandler raised their price target on First Mid Bancshares from $55.00 to $62.50 and gave the company an “overweight” rating in a report on Tuesday. Raymond James Financial reiterated an “outperform” rating and issued a $48.00 price objective on shares of First Mid Bancshares in a research report on Friday, May 1st. Finally, Keefe, Bruyette & Woods boosted their price objective on First Mid Bancshares from $50.00 to $54.00 and gave the stock a “market perform” rating in a research note on Monday. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.62.

First Mid Bancshares Price Performance

Shares of FMBH stock opened at $52.58 on Wednesday. First Mid Bancshares, Inc. has a 1 year low of $34.15 and a 1 year high of $52.73. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average is $46.89 and its 200-day moving average is $43.78. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 13.05 and a beta of 0.79.

First Mid Bancshares (NASDAQ:FMBH) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.21. First Mid Bancshares had a net margin of 19.76% and a return on equity of 11.17%. The business had revenue of $109.32 million during the quarter, compared to analyst estimates of $107.42 million. Sell-side analysts forecast that First Mid Bancshares, Inc. will post 4.64 EPS for the current fiscal year.

First Mid Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, August 18th. This is a positive change from First Mid Bancshares’s previous quarterly dividend of $0.25. First Mid Bancshares’s dividend payout ratio is 24.81%.

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.