First Mid Bancshares, Inc. (NASDAQ:FMBH) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

First Mid Bancshares, Inc. (NASDAQ:FMBH) has been given an average rating of “Moderate Buy” by the six analysts that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $55.50.

Several equities analysts recently commented on the company. Piper Sandler upped their target price on First Mid Bancshares from $62.50 to $64.00 and gave the company an “overweight” rating in a research note on Monday, November 2nd. Keefe, Bruyette & Woods upped 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 increased their price target on shares of First Mid Bancshares from $53.00 to $56.00 and gave the stock a “neutral” rating in a research note on Friday, October 30th. Weiss Ratings upgraded shares of First Mid Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, November 4th. Finally, Zacks Research raised shares of First Mid Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 2nd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its stake in shares of First Mid Bancshares by 13.7% in the second quarter. Wellington Management Group LLP now owns 503,186 shares of the bank’s stock valued at $24,198,000 after buying an additional 60,733 shares in the last quarter. Bank of America Corp DE acquired a new position in First Mid Bancshares during the 2nd quarter worth approximately $1,123,000. Deutsche Bank AG purchased a new position in First Mid Bancshares in the 2nd quarter worth approximately $1,173,000. Principal Financial Group Inc. acquired a new stake in First Mid Bancshares in the first quarter valued at approximately $1,012,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of First Mid Bancshares by 5.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,101,095 shares of the bank’s stock valued at $45,354,000 after purchasing an additional 56,997 shares during the period. 47.57% of the stock is owned by institutional investors and hedge funds.

First Mid Bancshares Stock Up 1.8%

Shares of NASDAQ FMBH opened at $51.50 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. First Mid Bancshares has a 52 week low of $35.44 and a 52 week high of $53.36. The firm has a 50-day moving average price of $50.07 and a 200 day moving average price of $46.35. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 11.87 and a beta of 0.80.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings results on Thursday, October 29th. The bank reported $1.26 EPS for the quarter, beating the consensus estimate of $1.14 by $0.12. First Mid Bancshares had a net margin of 20.87% and a return on equity of 11.55%. The business had revenue of $107.43 million for the quarter, compared to analyst estimates of $108.47 million. Equities research analysts anticipate that First Mid Bancshares will post 4.83 EPS for the current fiscal year.

First Mid Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be issued a $0.26 dividend. The ex-dividend date is Monday, November 16th. This represents a $1.04 annualized dividend and a yield of 2.0%. First Mid Bancshares’s dividend payout ratio (DPR) is presently 23.96%.

About First Mid Bancshares

First Mid Bancshares, Inc is a financial holding company headquartered in Mattoon, Illinois. Its principal subsidiary, First Mid Bank & Trust, provides personal and business banking services, including deposit accounts, lending, mortgage financing and agricultural banking.

The company also offers wealth management and trust services, along with insurance products through its insurance businesses. Its operations serve customers in Illinois and other markets in the Midwest, as well as Texas.

First Mid traces its roots to 1865, when a bank was established in Mattoon.