First Mid Bancshares (NASDAQ:FMBH) Price Target Raised to $54.00

First Mid Bancshares (NASDAQ:FMBH) had its target price raised by Keefe, Bruyette & Woods from $50.00 to $54.00 in a research report report published on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

Other research analysts have also recently issued research reports about the stock. Piper Sandler reissued an “overweight” rating and issued a $55.00 target price (up from $52.00) on shares of First Mid Bancshares in a report on Friday, May 1st. Raymond James Financial reaffirmed an “outperform” rating and set a $48.00 price target on shares of First Mid Bancshares in a report on Friday, May 1st. DA Davidson upped their price objective on shares of First Mid Bancshares from $47.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of First Mid Bancshares in a research report on Friday, May 1st. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, First Mid Bancshares presently has a consensus rating of “Moderate Buy” and an average target price of $54.62.

First Mid Bancshares Trading Down 0.1%

Shares of FMBH opened at $52.52 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.97 and a current ratio of 0.97. First Mid Bancshares has a 52-week low of $34.15 and a 52-week high of $53.36. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 13.03 and a beta of 0.79. The business’s fifty day moving average is $47.08 and its 200-day moving average is $43.87.

First Mid Bancshares (NASDAQ:FMBH) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.21. The business had revenue of $109.32 million during the quarter, compared to the consensus estimate of $107.42 million. First Mid Bancshares had a return on equity of 11.17% and a net margin of 19.76%. Equities analysts anticipate that First Mid Bancshares will post 4.66 EPS for the current fiscal year.

First Mid Bancshares Increases Dividend

The firm also recently declared 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 is an increase from First Mid Bancshares’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, August 18th. This represents a $1.04 annualized dividend and a yield of 2.0%. First Mid Bancshares’s dividend payout ratio is currently 24.81%.

Hedge Funds Weigh In On First Mid Bancshares

Hedge funds have recently modified their holdings of the business. AQR Capital Management LLC grew its stake in shares of First Mid Bancshares by 256.9% in the first quarter. AQR Capital Management LLC now owns 105,648 shares of the bank’s stock worth $3,687,000 after purchasing an additional 76,050 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in First Mid Bancshares by 63.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 161,024 shares of the bank’s stock worth $6,100,000 after purchasing an additional 62,404 shares during the last quarter. Tudor Investment Corp ET AL lifted its holdings in First Mid Bancshares by 421.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 71,260 shares of the bank’s stock worth $2,699,000 after buying an additional 57,600 shares during the period. Goldman Sachs Group Inc. lifted its holdings in First Mid Bancshares by 43.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 188,473 shares of the bank’s stock worth $7,350,000 after buying an additional 57,320 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of First Mid Bancshares by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,101,095 shares of the bank’s stock valued at $45,354,000 after buying an additional 56,997 shares during the last quarter. Institutional investors and hedge funds own 47.57% of the company’s stock.

First Mid Bancshares Company Profile

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.