First Mid Bancshares (NASDAQ:FMBH) Stock Price Expected to Rise, Stephens Analyst Says

First Mid Bancshares (NASDAQ:FMBH) had its price target upped by Stephens from $40.00 to $43.00 in a research note published on Friday morning, Benzinga reports. They currently have an overweight rating on the bank’s stock.

Other equities research analysts have also issued reports about the company. Piper Sandler raised their price objective on First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday. Keefe, Bruyette & Woods lowered First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 price target for the company. in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, First Mid Bancshares has an average rating of “Moderate Buy” and a consensus target price of $41.00.

First Mid Bancshares Price Performance

NASDAQ:FMBH opened at $37.50 on Friday. First Mid Bancshares has a 52-week low of $28.86 and a 52-week high of $41.02. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.48. The firm has a market cap of $896.63 million, a P/E ratio of 11.54 and a beta of 0.89. The business’s 50-day moving average price is $38.83 and its 200 day moving average price is $35.61.

First Mid Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, November 14th. First Mid Bancshares’s dividend payout ratio (DPR) is currently 29.54%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of First Mid Bancshares by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 1,292,218 shares of the bank’s stock valued at $42,230,000 after buying an additional 85,434 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in First Mid Bancshares by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 778,135 shares of the bank’s stock valued at $25,584,000 after acquiring an additional 36,769 shares during the last quarter. American Century Companies Inc. lifted its stake in First Mid Bancshares by 23.7% in the second quarter. American Century Companies Inc. now owns 340,343 shares of the bank’s stock valued at $11,190,000 after acquiring an additional 65,314 shares during the last quarter. Bank of New York Mellon Corp grew its position in First Mid Bancshares by 7.1% in the second quarter. Bank of New York Mellon Corp now owns 118,048 shares of the bank’s stock worth $3,881,000 after acquiring an additional 7,849 shares in the last quarter. Finally, Creative Planning increased its stake in shares of First Mid Bancshares by 2.1% during the 2nd quarter. Creative Planning now owns 106,397 shares of the bank’s stock worth $3,498,000 after purchasing an additional 2,186 shares during the last quarter. 47.57% of the stock is owned by institutional investors and hedge funds.

About First Mid Bancshares

First Mid Bancshares, Inc, a financial holding company, provides community banking products and services to commercial, retail, and agricultural customers in the United States. It accepts various deposit products, such as demand deposits, savings accounts, money market deposits, and time deposits. The company’s loan products include commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans, as well as construction and land development, 1-4 family residential properties, and multifamily residential properties loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.