Kingsview Wealth Management LLC Invests $943,000 in First Mid Bancshares, Inc. $FMBH

Kingsview Wealth Management LLC bought a new position in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) in the second quarter, Holdings Channel.com reports. The fund bought 27,266 shares of the bank’s stock, valued at approximately $943,000.

A number of other institutional investors have also bought and sold shares of the company. Clearstead Advisors LLC grew its holdings in First Mid Bancshares by 147.2% during the 4th quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock worth $33,000 after acquiring an additional 505 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in First Mid Bancshares during the second quarter worth approximately $38,000. Strs Ohio acquired a new stake in First Mid Bancshares during the first quarter worth approximately $42,000. Aquatic Capital Management LLC increased its holdings in First Mid Bancshares by 272.5% in the third quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank’s stock worth $54,000 after purchasing an additional 1,052 shares in the last quarter. Finally, Deutsche Bank AG bought a new stake in First Mid Bancshares in the second quarter worth approximately $59,000. Institutional investors own 47.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FMBH shares. Piper Sandler increased their price target on First Mid Bancshares from $55.00 to $62.50 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods lifted their price objective on shares of First Mid Bancshares from $50.00 to $54.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. DA Davidson boosted their target price on shares of First Mid Bancshares from $47.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of First Mid Bancshares in a research note on Wednesday, July 29th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.62.

First Mid Bancshares Stock Performance

NASDAQ FMBH opened at $50.34 on Monday. The company has a market cap of $1.34 billion, a P/E ratio of 12.49 and a beta of 0.78. The company has a fifty day simple moving average of $49.93 and a 200 day simple moving average of $45.28. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.03. First Mid Bancshares, Inc. has a 12-month low of $34.15 and a 12-month high of $53.36.

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

First Mid Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from First Mid Bancshares’s previous quarterly dividend of $0.25. First Mid Bancshares’s dividend payout ratio (DPR) is currently 25.81%.

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.