Analysts Set First Mid Bancshares, Inc. (NASDAQ:FMBH) PT at $43.17

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have been assigned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $43.1667.

FMBH has been the topic of a number of recent research reports. Piper Sandler dropped their target price on First Mid Bancshares from $49.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, November 3rd. Weiss Ratings cut shares of First Mid Bancshares from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Finally, Zacks Research upgraded shares of First Mid Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd.

Institutional Trading of First Mid Bancshares

Hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. purchased a new position in First Mid Bancshares during the first quarter valued at approximately $26,000. Meeder Asset Management Inc. acquired a new stake in shares of First Mid Bancshares during the 1st quarter worth approximately $29,000. State of Alaska Department of Revenue purchased a new position in shares of First Mid Bancshares during the 3rd quarter valued at approximately $36,000. Strs Ohio purchased a new position in shares of First Mid Bancshares during the 1st quarter valued at approximately $42,000. Finally, Federated Hermes Inc. lifted its stake in shares of First Mid Bancshares by 35.6% in the 1st quarter. Federated Hermes Inc. now owns 1,295 shares of the bank’s stock valued at $45,000 after purchasing an additional 340 shares during the period. Hedge funds and other institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Price Performance

Shares of FMBH opened at $37.48 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.93 and a quick ratio of 0.93. The company’s fifty day moving average price is $37.12 and its 200-day moving average price is $37.64. First Mid Bancshares has a 1-year low of $27.58 and a 1-year high of $43.86. The firm has a market capitalization of $899.52 million, a PE ratio of 10.27 and a beta of 0.93.

First Mid Bancshares (NASDAQ:FMBH) last issued its quarterly earnings results on Thursday, October 30th. The bank reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The company had revenue of $89.27 million during the quarter, compared to analysts’ expectations of $65.60 million. First Mid Bancshares had a return on equity of 10.27% and a net margin of 18.77%. On average, equities research analysts predict 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 Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.7%. First Mid Bancshares’s dividend payout ratio (DPR) is presently 27.40%.

First Mid Bancshares Company Profile

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.