Wellington Management Group LLP Boosts Holdings in First Mid Bancshares, Inc. $FMBH

Wellington Management Group LLP lifted its position in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) by 13.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 503,186 shares of the bank’s stock after purchasing an additional 60,733 shares during the period. Wellington Management Group LLP owned about 1.89% of First Mid Bancshares worth $24,198,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in First Mid Bancshares during the 2nd quarter valued at $114,252,000. The Manufacturers Life Insurance Company acquired a new position in First Mid Bancshares in the 2nd quarter worth $9,906,000. Bank of New York Mellon Corp purchased a new position in First Mid Bancshares in the 2nd quarter valued at about $5,519,000. Empowered Funds LLC purchased a new position in First Mid Bancshares in the 2nd quarter valued at about $5,502,000. Finally, AQR Capital Management LLC grew its stake in shares of First Mid Bancshares by 256.9% during the first quarter. AQR Capital Management LLC now owns 105,648 shares of the bank’s stock valued at $3,687,000 after acquiring an additional 76,050 shares in the last quarter. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FMBH has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Mid Bancshares in a research report on Wednesday, July 29th. Piper Sandler increased their price target on First Mid Bancshares from $55.00 to $62.50 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods raised their price objective on 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. Finally, DA Davidson lifted their price objective on First Mid Bancshares from $47.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. 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 MarketBeat, First Mid Bancshares has an average rating of “Moderate Buy” and a consensus target price of $54.62.

First Mid Bancshares Price Performance

Shares of FMBH stock opened at $51.33 on Friday. The firm has a market cap of $1.37 billion, a P/E ratio of 12.74 and a beta of 0.78. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.95 and a quick ratio of 0.95. First Mid Bancshares, Inc. has a 1-year low of $34.15 and a 1-year high of $53.36. The firm has a fifty day moving average of $50.25 and a two-hundred day moving average of $45.52.

First Mid Bancshares (NASDAQ:FMBH) last issued its earnings results on Thursday, July 23rd. The bank reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $109.32 million for the quarter, compared to analyst estimates of $107.42 million. As a group, research analysts anticipate that First Mid Bancshares, Inc. will post 4.69 earnings per share for the current fiscal year.

First Mid Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were issued a $0.26 dividend. This is an increase from First Mid Bancshares’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, August 18th. First Mid Bancshares’s dividend payout ratio is presently 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.