52,737 Shares in First Mid Bancshares, Inc. $FMBH Bought by Pinnacle Holdings LLC

Pinnacle Holdings LLC bought a new position in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 52,737 shares of the bank’s stock, valued at approximately $873,000.

A number of other hedge funds also recently bought and sold shares of FMBH. Jane Street Group LLC grew its position in shares of First Mid Bancshares by 0.8% in the fourth quarter. Jane Street Group LLC now owns 41,096 shares of the bank’s stock valued at $1,603,000 after purchasing an additional 326 shares during the last quarter. CWM LLC lifted its position in shares of First Mid Bancshares by 5.8% during the 4th quarter. CWM LLC now owns 6,283 shares of the bank’s stock worth $245,000 after purchasing an additional 343 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of First Mid Bancshares by 32.0% during the 2nd quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock worth $64,000 after purchasing an additional 415 shares during the last quarter. Clearstead Advisors LLC boosted its stake 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 period. Finally, PNC Financial Services Group Inc. boosted its stake in First Mid Bancshares by 17.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the bank’s stock valued at $141,000 after purchasing an additional 538 shares during the period. 47.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. DA Davidson raised their target price on First Mid Bancshares from $47.00 to $54.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Raymond James Financial reiterated an “outperform” rating and set a $48.00 price target on shares of First Mid Bancshares in a report on Friday, May 1st. Keefe, Bruyette & Woods increased their price objective on First Mid Bancshares from $50.00 to $54.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Piper Sandler raised their price objective on shares of First Mid Bancshares from $55.00 to $62.50 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of First Mid Bancshares in a research note on Wednesday, July 29th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, First Mid Bancshares currently has an average rating of “Moderate Buy” and an average target price of $54.62.

First Mid Bancshares Stock Performance

Shares of FMBH opened at $50.28 on Monday. The stock’s 50-day moving average price is $49.48 and its 200 day moving average price is $45.06. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 12.48 and a beta of 0.78. First Mid Bancshares, Inc. has a 12-month low of $34.15 and a 12-month high of $53.36.

First Mid Bancshares (NASDAQ:FMBH) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.21. The company 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 10.86% and a net margin of 19.76%. As a group, research analysts predict that First Mid Bancshares, Inc. will post 4.69 earnings per share for the current year.

First Mid Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.1%. This is an increase from First Mid Bancshares’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, August 18th. First Mid Bancshares’s dividend payout ratio (DPR) is 25.81%.

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.