First Mid Bancshares, Inc. (NASDAQ:FMBH) Shares Purchased by State Street Corp

State Street Corp raised its stake in First Mid Bancshares, Inc. (NASDAQ:FMBH) by 0.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 512,231 shares of the bank’s stock after acquiring an additional 434 shares during the quarter. State Street Corp’s holdings in First Mid Bancshares were worth $19,931,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Victory Capital Management Inc. increased its position in First Mid Bancshares by 2.2% during the 2nd quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank’s stock worth $998,000 after purchasing an additional 650 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of First Mid Bancshares by 1.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 88,910 shares of the bank’s stock worth $3,459,000 after buying an additional 900 shares in the last quarter. Rhumbline Advisers raised its position in shares of First Mid Bancshares by 3.3% in the second quarter. Rhumbline Advisers now owns 33,272 shares of the bank’s stock valued at $1,094,000 after buying an additional 1,049 shares during the last quarter. Choreo LLC boosted its position in First Mid Bancshares by 17.9% during the second quarter. Choreo LLC now owns 7,568 shares of the bank’s stock worth $246,000 after acquiring an additional 1,149 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in First Mid Bancshares by 33.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,001 shares of the bank’s stock worth $233,000 after acquiring an additional 1,510 shares during the period. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on FMBH shares. DA Davidson lowered First Mid Bancshares from a “buy” rating to a “neutral” rating and increased their price target for the stock from $44.00 to $47.00 in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods increased their target price on First Mid Bancshares from $42.00 to $45.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler lifted their price target on First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Stephens lowered shares of First Mid Bancshares from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, First Mid Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

First Mid Bancshares Stock Performance

First Mid Bancshares stock opened at $37.50 on Tuesday. The company has a market cap of $896.70 million, a price-to-earnings ratio of 11.54 and a beta of 0.91. First Mid Bancshares, Inc. has a 12 month low of $28.86 and a 12 month high of $43.86. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.91 and a quick ratio of 0.91. The stock’s 50-day moving average is $40.55 and its 200-day moving average is $37.90.

First Mid Bancshares Dividend Announcement

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

First Mid Bancshares Company Profile

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.