Principal Financial Group Inc. Takes $1.01 Million Position in First Mid Bancshares, Inc. $FMBH

Principal Financial Group Inc. bought a new stake in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 24,559 shares of the bank’s stock, valued at approximately $1,012,000. Principal Financial Group Inc. owned about 0.09% of First Mid Bancshares as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp lifted its stake in First Mid Bancshares by 6,163.6% during the 1st quarter. Fifth Third Bancorp now owns 11,713 shares of the bank’s stock valued at $482,000 after acquiring an additional 11,526 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in First Mid Bancshares during the 1st quarter worth $762,000. Pictet Asset Management Holding SA purchased a new position in First Mid Bancshares during the 1st quarter worth $209,000. SG Americas Securities LLC grew its stake in shares of First Mid Bancshares by 17.7% in the 1st quarter. SG Americas Securities LLC now owns 9,961 shares of the bank’s stock worth $410,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of First Mid Bancshares by 58.4% in the 4th quarter. Hsbc Holdings PLC now owns 30,042 shares of the bank’s stock worth $1,173,000 after acquiring an additional 11,072 shares in the last quarter. Institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Trading Up 0.3%

Shares of First Mid Bancshares stock opened at $52.09 on Friday. First Mid Bancshares, Inc. has a 1 year low of $34.15 and a 1 year high of $53.36. The firm has a market cap of $1.39 billion, a PE ratio of 12.93 and a beta of 0.79. The stock has a fifty day moving average price of $47.41 and a 200-day moving average price of $44.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 0.97.

First Mid Bancshares (NASDAQ:FMBH) last released its earnings results on Thursday, July 23rd. The bank reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.21. The company had revenue of $109.32 million for the quarter, compared to analysts’ expectations of $107.42 million. First Mid Bancshares had a return on equity of 11.17% and a net margin of 19.76%. Equities research analysts anticipate that First Mid Bancshares, Inc. will post 4.66 EPS for the current year.

First Mid Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.0%. This is a boost from First Mid Bancshares’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, August 18th. First Mid Bancshares’s dividend payout ratio is 24.81%.

Wall Street Analysts Forecast Growth

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

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.