First Mid Bancshares, Inc. (NASDAQ:FMBH) Given Average Rating of “Moderate Buy” by Brokerages

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have earned an average rating of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $54.6250.

A number of equities research analysts recently weighed in on FMBH shares. DA Davidson lifted their price objective on shares of First Mid Bancshares from $47.00 to $54.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of First Mid Bancshares in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods raised their target price on shares of First Mid Bancshares from $50.00 to $54.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Finally, Piper Sandler boosted their price target on shares of First Mid Bancshares from $55.00 to $62.50 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th.

Institutional Trading of First Mid Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of First Mid Bancshares in the 2nd quarter worth approximately $114,252,000. Dimensional Fund Advisors LP boosted its holdings in First Mid Bancshares by 5.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,101,095 shares of the bank’s stock worth $45,354,000 after buying an additional 56,997 shares in the last quarter. Wellington Management Group LLP grew its position in First Mid Bancshares by 13.7% in the second quarter. Wellington Management Group LLP now owns 503,186 shares of the bank’s stock worth $24,198,000 after buying an additional 60,733 shares during the last quarter. Endeavour Capital Advisors Inc. grew its position in First Mid Bancshares by 10.9% in the fourth quarter. Endeavour Capital Advisors Inc. now owns 208,719 shares of the bank’s stock worth $8,140,000 after buying an additional 20,441 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of First Mid Bancshares in the second quarter valued at $9,906,000. Institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Price Performance

NASDAQ FMBH opened at $49.98 on Monday. First Mid Bancshares has a 52 week low of $34.15 and a 52 week high of $53.36. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 12.40 and a beta of 0.78. The company has a 50-day moving average price of $50.75 and a two-hundred day moving average price of $46.07.

First Mid Bancshares (NASDAQ:FMBH) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $1.26 EPS for the quarter, beating the consensus estimate of $1.05 by $0.21. First Mid Bancshares had a net margin of 19.76% and a return on equity of 10.86%. The company had revenue of $109.32 million for the quarter, compared to analyst estimates of $107.42 million. Analysts forecast that First Mid Bancshares will post 4.69 EPS for the current year.

First Mid Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were paid a dividend of $0.26 per share. This is a boost from First Mid Bancshares’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Tuesday, August 18th. First Mid Bancshares’s dividend payout ratio (DPR) is 25.81%.

About First Mid Bancshares

First Mid Bancshares, Inc is a financial services holding company headquartered in Mattoon, Illinois. Through its subsidiary, First Mid Bank & Trust, the company provides banking and related financial services to individuals, families, farmers, businesses and public-sector customers.

The company’s banking offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate loans, agricultural lending, consumer loans, business financing and treasury management services.