First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives Average Rating of “Moderate Buy” from Analysts

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $38.20.

Several research analysts have issued reports on FMBH shares. Keefe, Bruyette & Woods cut shares of First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 target price on the stock. in a report on Wednesday. Hovde Group started coverage on shares of First Mid Bancshares in a research note on Wednesday, June 26th. They set an “outperform” rating and a $35.00 price objective on the stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC boosted its stake in First Mid Bancshares by 44.6% in the third quarter. SG Americas Securities LLC now owns 12,006 shares of the bank’s stock valued at $467,000 after acquiring an additional 3,703 shares in the last quarter. Creative Planning lifted its holdings 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 valued at $3,498,000 after purchasing an additional 2,186 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of First Mid Bancshares by 106.4% during the 2nd quarter. AQR Capital Management LLC now owns 31,333 shares of the bank’s stock valued at $1,030,000 after purchasing an additional 16,150 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of First Mid Bancshares by 27.5% in the 2nd quarter. Renaissance Technologies LLC now owns 13,000 shares of the bank’s stock worth $427,000 after purchasing an additional 2,800 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in First Mid Bancshares by 5.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 778,135 shares of the bank’s stock worth $25,584,000 after buying an additional 36,769 shares during the last quarter. Hedge funds and other institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Stock Performance

First Mid Bancshares stock opened at $36.85 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $880.57 million, a PE ratio of 11.89 and a beta of 0.89. The company has a 50 day moving average price of $38.64 and a 200-day moving average price of $34.42. First Mid Bancshares has a fifty-two week low of $25.73 and a fifty-two week high of $41.02.

First Mid Bancshares (NASDAQ:FMBH) last issued its earnings results on Thursday, August 1st. The bank reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. First Mid Bancshares had a return on equity of 10.43% and a net margin of 16.75%. The business had revenue of $79.19 million during the quarter, compared to analyst estimates of $78.25 million. As a group, equities analysts forecast that First Mid Bancshares will post 3.47 earnings per share for the current year.

First Mid Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.61%. This is a positive change from First Mid Bancshares’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, August 16th. First Mid Bancshares’s dividend payout ratio is presently 30.97%.

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.