Brokerages Set First Mid Bancshares, Inc. (NASDAQ:FMBH) Price Target at $43.33

First Mid Bancshares, Inc. (NASDAQ:FMBH) has earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $43.3333.

Several analysts have issued reports on FMBH shares. Weiss Ratings restated a “buy (b-)” rating on shares of First Mid Bancshares in a research note on Saturday, September 27th. DA Davidson increased their target price on First Mid Bancshares from $39.00 to $42.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Piper Sandler increased their target price on First Mid Bancshares from $47.00 to $49.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Finally, Wall Street Zen upgraded First Mid Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th.

First Mid Bancshares Price Performance

NASDAQ:FMBH opened at $37.48 on Monday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.39. The stock’s 50 day moving average price is $38.93 and its two-hundred day moving average price is $36.86. The firm has a market capitalization of $899.52 million, a price-to-earnings ratio of 10.65 and a beta of 0.89. First Mid Bancshares has a 12-month low of $27.58 and a 12-month high of $43.86.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings data on Thursday, July 24th. The bank reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.08. The firm had revenue of $88.23 million for the quarter, compared to analyst estimates of $64.42 million. First Mid Bancshares had a return on equity of 10.09% and a net margin of 18.32%. On average, analysts anticipate that First Mid Bancshares will post 3.61 earnings per share for the current year.

First Mid Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase from First Mid Bancshares’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, August 15th. First Mid Bancshares’s dividend payout ratio is 28.41%.

Insider Buying and Selling at First Mid Bancshares

In other news, CEO Clay M. Dean sold 1,553 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $37.64, for a total transaction of $58,454.92. Following the transaction, the chief executive officer owned 11,229 shares in the company, valued at approximately $422,659.56. This trade represents a 12.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On First Mid Bancshares

A number of large investors have recently made changes to their positions in FMBH. PNC Financial Services Group Inc. acquired a new stake in First Mid Bancshares during the first quarter worth approximately $26,000. Meeder Asset Management Inc. acquired a new stake in First Mid Bancshares during the first quarter worth approximately $29,000. Strs Ohio acquired a new stake in First Mid Bancshares during the first quarter worth approximately $42,000. Federated Hermes Inc. grew its position in First Mid Bancshares by 35.6% during the first quarter. Federated Hermes Inc. now owns 1,295 shares of the bank’s stock worth $45,000 after buying an additional 340 shares in the last quarter. Finally, State of Wyoming grew its position in First Mid Bancshares by 33.4% during the first quarter. State of Wyoming now owns 1,410 shares of the bank’s stock worth $49,000 after buying an additional 353 shares in the last quarter. Institutional investors own 47.57% of the company’s stock.

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.