Analysts Set First Mid Bancshares, Inc. (NASDAQ:FMBH) PT at $42.00

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $42.00.

Several equities analysts have recently issued reports on the stock. DA Davidson downgraded shares of First Mid Bancshares from a “buy” rating to a “neutral” rating and boosted their price target for the company from $44.00 to $47.00 in a report on Tuesday. Keefe, Bruyette & Woods downgraded shares of First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 price target for the company. in a report on Wednesday, October 2nd. Piper Sandler lifted their price objective on shares of First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Stephens lifted their price objective on shares of First Mid Bancshares from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, November 1st.

Institutional Investors Weigh In On First Mid Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC raised its position in First Mid Bancshares by 344.2% in the second quarter. CWM LLC now owns 884 shares of the bank’s stock worth $29,000 after acquiring an additional 685 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in First Mid Bancshares during the 1st quarter worth about $29,000. Quantbot Technologies LP acquired a new stake in First Mid Bancshares during the 3rd quarter worth about $84,000. PDT Partners LLC acquired a new stake in First Mid Bancshares during the 3rd quarter worth about $203,000. Finally, BNP Paribas Financial Markets grew its stake in First Mid Bancshares by 33.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,001 shares of the bank’s stock valued at $233,000 after acquiring an additional 1,510 shares in the last quarter. 47.57% of the stock is currently owned by institutional investors.

First Mid Bancshares Stock Performance

Shares of FMBH opened at $41.54 on Tuesday. First Mid Bancshares has a 1 year low of $28.86 and a 1 year high of $43.52. The company has a market cap of $993.22 million, a price-to-earnings ratio of 12.78 and a beta of 0.89. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a fifty day moving average of $39.07 and a 200-day moving average of $36.17.

First Mid Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Thursday, November 14th. First Mid Bancshares’s dividend payout ratio (DPR) is presently 29.54%.

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.