Piper Sandler Cuts First Mid Bancshares (NASDAQ:FMBH) Price Target to $38.00

First Mid Bancshares (NASDAQ:FMBH) had its price objective decreased by Piper Sandler from $39.00 to $38.00 in a research report released on Monday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the bank’s stock.

A number of other equities research analysts also recently issued reports on FMBH. Stephens lowered their target price on shares of First Mid Bancshares from $40.00 to $38.00 and set an overweight rating for the company in a report on Tuesday, January 30th. Raymond James upped their price objective on First Mid Bancshares from $34.00 to $38.00 and gave the stock an outperform rating in a report on Monday, January 29th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, First Mid Bancshares has an average rating of Moderate Buy and a consensus target price of $37.00.

First Mid Bancshares Stock Performance

NASDAQ FMBH opened at $31.62 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $755.40 million, a PE ratio of 10.20 and a beta of 0.87. The business’s 50-day moving average price is $30.76 and its 200 day moving average price is $31.21. First Mid Bancshares has a twelve month low of $21.77 and a twelve month high of $35.83.

First Mid Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.92 dividend on an annualized basis and a yield of 2.91%. First Mid Bancshares’s dividend payout ratio (DPR) is 29.68%.

Institutional Investors Weigh In On First Mid Bancshares

Several large investors have recently made changes to their positions in the business. Ballentine Partners LLC purchased a new stake in First Mid Bancshares during the 4th quarter worth $65,151,000. Endeavour Capital Advisors Inc. purchased a new stake in shares of First Mid Bancshares in the third quarter worth about $10,895,000. Gendell Jeffrey L acquired a new stake in shares of First Mid Bancshares in the third quarter valued at about $5,714,000. Vanguard Group Inc. raised its holdings in shares of First Mid Bancshares by 6.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,040,575 shares of the bank’s stock valued at $27,638,000 after buying an additional 58,456 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in First Mid Bancshares by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 678,953 shares of the bank’s stock worth $23,533,000 after acquiring an additional 34,401 shares in the last quarter. Institutional investors and hedge funds own 47.57% of the company’s stock.

About First Mid Bancshares

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.