Callan Family Office LLC Buys Shares of 10,563 First Mid Bancshares, Inc. $FMBH

Callan Family Office LLC bought a new stake in First Mid Bancshares, Inc. (NASDAQ:FMBH) during the second quarter, Holdings Channel reports. The institutional investor bought 10,563 shares of the bank’s stock, valued at approximately $365,000.

A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. purchased a new position in First Mid Bancshares during the second quarter valued at approximately $630,909,000. Vanguard Group Inc. raised its holdings in shares of First Mid Bancshares by 3.4% during the third quarter. Vanguard Group Inc. now owns 1,366,627 shares of the bank’s stock worth $51,768,000 after acquiring an additional 44,319 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in First Mid Bancshares during the second quarter valued at $39,888,000. Dimensional Fund Advisors LP increased its position in First Mid Bancshares by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,101,095 shares of the bank’s stock worth $45,354,000 after purchasing an additional 56,997 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of First Mid Bancshares by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 546,389 shares of the bank’s stock worth $21,313,000 after purchasing an additional 12,484 shares in the last quarter. 47.57% of the stock is owned by hedge funds and other institutional investors.

First Mid Bancshares Trading Up 0.3%

Shares of NASDAQ:FMBH opened at $50.30 on Thursday. The company has a market cap of $1.34 billion, a P/E ratio of 12.48 and a beta of 0.78. The stock’s 50-day moving average is $49.75 and its 200-day moving average is $45.20. First Mid Bancshares, Inc. has a 52-week low of $34.15 and a 52-week high of $53.36. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.95 and a current ratio of 0.95.

First Mid Bancshares (NASDAQ:FMBH) last announced its earnings results on Thursday, July 23rd. The bank reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.21. The firm had revenue of $109.32 million during the quarter, compared to the consensus estimate of $107.42 million. First Mid Bancshares had a return on equity of 10.86% and a net margin of 19.76%. Equities research analysts predict that First Mid Bancshares, Inc. will post 4.69 earnings per share for the current year.

First Mid Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. This is an increase from First Mid Bancshares’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, August 18th. First Mid Bancshares’s payout ratio is presently 25.81%.

Wall Street Analysts Forecast Growth

FMBH has been the subject of several recent research reports. Piper Sandler boosted their price target on First Mid Bancshares from $55.00 to $62.50 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Raymond James Financial reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of First Mid Bancshares in a research note on Friday, May 1st. DA Davidson upped their price objective on shares of First Mid Bancshares from $47.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of First Mid Bancshares in a research report on Wednesday, July 29th. Finally, Keefe, Bruyette & Woods raised their target price on First Mid Bancshares from $50.00 to $54.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.62.

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.