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

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have been given a consensus rating of “Moderate Buy” by the seven research firms that are presently covering the stock, Marketbeat.com reports. Two 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 $43.60.

Several research analysts recently commented on FMBH shares. Zacks Research lowered First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. DA Davidson lifted their target price on First Mid Bancshares from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of First Mid Bancshares in a research report on Monday, December 29th.

First Mid Bancshares Trading Up 0.9%

Shares of FMBH opened at $41.50 on Thursday. The stock has a market capitalization of $999.40 million, a PE ratio of 10.81 and a beta of 0.90. The company’s fifty day moving average is $41.76 and its 200 day moving average is $39.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.93 and a current ratio of 0.96. First Mid Bancshares has a fifty-two week low of $27.58 and a fifty-two week high of $44.85.

First Mid Bancshares (NASDAQ:FMBH) last issued its quarterly earnings data on Thursday, January 29th. The bank reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. The business had revenue of $90.14 million during the quarter, compared to analysts’ expectations of $67.86 million. First Mid Bancshares had a net margin of 19.69% and a return on equity of 10.44%. Sell-side analysts expect that First Mid Bancshares will post 3.61 earnings per share for the current fiscal year.

First Mid Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Thursday, February 12th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. First Mid Bancshares’s dividend payout ratio is currently 26.04%.

Insider Transactions at First Mid Bancshares

In other First Mid Bancshares news, CEO Clay M. Dean sold 1,099 shares of the firm’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $42.69, for a total value of $46,916.31. Following the completion of the sale, the chief executive officer owned 9,624 shares of the company’s stock, valued at $410,848.56. This trade represents a 10.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bradley L. Beesley sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $44.00, for a total value of $264,000.00. Following the transaction, the executive vice president owned 12,378 shares of the company’s stock, valued at $544,632. This trade represents a 32.65% decrease in their position. The disclosure for this sale is available in the SEC filing. 7.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Mid Bancshares

Institutional investors have recently modified their holdings of the stock. Clearstead Advisors LLC lifted its stake in First Mid Bancshares by 147.2% during the 4th quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock valued at $33,000 after acquiring an additional 505 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of First Mid Bancshares in the third quarter worth $36,000. Strs Ohio purchased a new position in shares of First Mid Bancshares during the first quarter worth $42,000. Aquatic Capital Management LLC lifted its position in First Mid Bancshares by 272.5% during the third quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank’s stock valued at $54,000 after purchasing an additional 1,052 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in First Mid Bancshares by 32.0% in the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock valued at $64,000 after purchasing an additional 415 shares during the last quarter. 47.57% of the stock is owned by hedge funds and other institutional investors.

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.