Ieq Capital LLC Buys New Stake in First Mid Bancshares, Inc. $FMBH

Ieq Capital LLC acquired a new stake in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 43,186 shares of the bank’s stock, valued at approximately $1,494,000. Ieq Capital LLC owned about 0.16% of First Mid Bancshares as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FMBH. Clearstead Advisors LLC raised its position in First Mid Bancshares by 147.2% during the fourth quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock valued at $33,000 after purchasing an additional 505 shares during the period. Strs Ohio bought a new stake in shares of First Mid Bancshares during the first quarter worth $42,000. Aquatic Capital Management LLC boosted its position in First Mid Bancshares by 272.5% in the 3rd quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank’s stock valued at $54,000 after buying an additional 1,052 shares during the period. Deutsche Bank AG purchased a new stake in shares of First Mid Bancshares in the second quarter valued at approximately $59,000. Finally, Federated Hermes Inc. lifted its holdings in shares of First Mid Bancshares by 32.0% in the 2nd quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock worth $64,000 after buying an additional 415 shares during the period. 47.57% of the stock is owned by hedge funds and other institutional investors.

First Mid Bancshares Price Performance

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

First Mid Bancshares (NASDAQ:FMBH) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $1.26 EPS for the quarter, beating the consensus estimate of $1.05 by $0.21. The business had revenue of $109.32 million during the quarter, compared to analysts’ expectations of $107.42 million. First Mid Bancshares had a net margin of 19.76% and a return on equity of 10.86%. On average, sell-side analysts expect that First Mid Bancshares, Inc. will post 4.69 earnings per share for the current year.

First Mid Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This is a positive change from First Mid Bancshares’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 2.1%. First Mid Bancshares’s dividend payout ratio is currently 25.81%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FMBH. Weiss Ratings reissued a “buy (b)” rating on shares of First Mid Bancshares in a report on Wednesday, July 29th. DA Davidson increased their target price on First Mid Bancshares from $47.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods lifted their price target 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. Piper Sandler boosted their price target on First Mid Bancshares from $55.00 to $62.50 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $48.00 price objective on shares of First Mid Bancshares in a research report on Friday, May 1st. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.