Analysts Set First Mid Bancshares, Inc. (NASDAQ:FMBH) Price Target at $42.80

First Mid Bancshares, Inc. (NASDAQ:FMBH) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $43.60.

A number of research analysts recently weighed in on the stock. Zacks Research cut shares of First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of First Mid Bancshares in a report on Monday, December 29th. DA Davidson upped their price objective on First Mid Bancshares from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Piper Sandler decreased their target price on First Mid Bancshares from $49.00 to $48.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd.

First Mid Bancshares Stock Up 0.5%

FMBH stock opened at $43.80 on Friday. The business’s 50-day moving average price is $40.69 and its 200-day moving average price is $38.94. The stock has a market cap of $1.05 billion, a P/E ratio of 11.41 and a beta of 0.91. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.37. First Mid Bancshares has a twelve month low of $27.58 and a twelve month high of $44.61.

First Mid Bancshares (NASDAQ:FMBH) last released its earnings results on Thursday, January 29th. The bank reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. First Mid Bancshares had a net margin of 19.69% and a return on equity of 10.61%. The company had revenue of $90.14 million during the quarter, compared to analyst estimates of $67.86 million. On average, equities research analysts forecast that First Mid Bancshares will post 3.61 EPS for the current year.

First Mid Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Thursday, February 12th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, February 12th. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. First Mid Bancshares’s dividend payout ratio (DPR) is presently 26.04%.

Insider Buying and Selling at First Mid Bancshares

In related news, CEO Clay M. Dean sold 1,099 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $42.69, for a total transaction of $46,916.31. Following the completion of the transaction, the chief executive officer directly owned 9,624 shares of the company’s stock, valued at approximately $410,848.56. This trade represents a 10.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On First Mid Bancshares

Several large investors have recently bought and sold shares of FMBH. Federated Hermes Inc. lifted its position in First Mid Bancshares by 17.4% during the third quarter. Federated Hermes Inc. now owns 2,007 shares of the bank’s stock valued at $76,000 after purchasing an additional 297 shares during the last quarter. CWM LLC lifted its holdings in shares of First Mid Bancshares by 5.8% in the 4th quarter. CWM LLC now owns 6,283 shares of the bank’s stock valued at $245,000 after acquiring an additional 343 shares during the last quarter. Teacher Retirement System of Texas grew its position in First Mid Bancshares by 2.3% in the second quarter. Teacher Retirement System of Texas now owns 24,002 shares of the bank’s stock worth $900,000 after acquiring an additional 537 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in First Mid Bancshares by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,566 shares of the bank’s stock worth $473,000 after acquiring an additional 550 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its position in First Mid Bancshares by 8.8% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 8,008 shares of the bank’s stock valued at $303,000 after purchasing an additional 648 shares during the period. Institutional investors own 47.57% of the company’s stock.

About First Mid Bancshares

First Mid Bancshares, Inc (NASDAQ: FMBH), headquartered in Mattoon, Illinois, is a financial services holding company that offers a comprehensive suite of banking products and services through its main subsidiary, First Mid Bank & Trust. The company’s primary business activities include commercial and retail banking, mortgage origination and servicing, wealth management and trust administration, as well as treasury and cash management solutions.

Through its branch network, First Mid provides consumer deposit products such as checking and savings accounts, certificates of deposit and online banking services.