Brokerages Set First Mid Bancshares, Inc. (NASDAQ:FMBH) PT at $43.75

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have received an average rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $43.75.

FMBH has been the subject of several analyst reports. Zacks Research lowered First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Mid Bancshares in a research report on Monday, December 29th. Finally, DA Davidson increased their price target on First Mid Bancshares from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd.

Insider Buying and Selling

In related news, EVP Bradley L. Beesley sold 6,000 shares of First Mid Bancshares 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 completion of the sale, the executive vice president directly owned 12,378 shares in the company, valued at $544,632. This trade represents a 32.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Federated Hermes Inc. raised its holdings in First Mid Bancshares by 17.4% in the 3rd quarter. Federated Hermes Inc. now owns 2,007 shares of the bank’s stock worth $76,000 after purchasing an additional 297 shares during the period. Jane Street Group LLC grew its position in shares of First Mid Bancshares by 0.8% in the fourth quarter. Jane Street Group LLC now owns 41,096 shares of the bank’s stock valued at $1,603,000 after purchasing an additional 326 shares during the period. CWM LLC lifted its stake in 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 buying an additional 343 shares in the last quarter. Clearstead Advisors LLC lifted its position in shares of First Mid Bancshares by 147.2% in the fourth quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock valued at $33,000 after acquiring an additional 505 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of First Mid Bancshares by 17.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the bank’s stock valued at $141,000 after acquiring an additional 538 shares in the last quarter. Institutional investors and hedge funds own 47.57% of the company’s stock.

First Mid Bancshares Price Performance

Shares of First Mid Bancshares stock opened at $40.56 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.08 billion, a P/E ratio of 10.56 and a beta of 0.90. The firm’s 50 day moving average price is $41.87 and its 200-day moving average price is $39.65. First Mid Bancshares has a 52-week low of $27.58 and a 52-week high of $44.85.

First Mid Bancshares (NASDAQ:FMBH) last announced its earnings results on Thursday, January 29th. The bank reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. First Mid Bancshares had a net margin of 19.69% and a return on equity of 10.44%. The company had revenue of $90.14 million during the quarter, compared to the consensus estimate of $67.86 million. On average, sell-side analysts predict that First Mid Bancshares will post 3.61 EPS for the current fiscal year.

First Mid Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Thursday, February 12th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, February 12th. First Mid Bancshares’s dividend payout ratio (DPR) is presently 26.04%.

First Mid Bancshares Company Profile

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.