Brokerages Set First Mid Bancshares, Inc. (NASDAQ:FMBH) PT at $49.50

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have been assigned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $54.6250.

FMBH has been the subject of a number of research reports. DA Davidson upped their target price on shares of First Mid Bancshares from $47.00 to $54.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Raymond James Financial reaffirmed an “outperform” rating and issued a $48.00 target price on shares of First Mid Bancshares in a report on Friday, May 1st. Keefe, Bruyette & Woods boosted 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Mid Bancshares in a research note on Wednesday. Finally, Piper Sandler lifted their price objective on First Mid Bancshares from $55.00 to $62.50 and gave the company an “overweight” rating in a research report on Tuesday.

Institutional Trading of First Mid Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Clearstead Advisors LLC lifted its stake in shares of First Mid Bancshares by 147.2% during the 4th quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock valued at $33,000 after buying an additional 505 shares in the last quarter. Strs Ohio bought a new position in First Mid Bancshares in the 1st quarter worth $42,000. Aquatic Capital Management LLC increased its stake 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 worth $54,000 after buying an additional 1,052 shares in the last quarter. Federated Hermes Inc. increased its stake in 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 in the last quarter. Finally, Quantbot Technologies LP raised its holdings in First Mid Bancshares by 113.0% during the second quarter. Quantbot Technologies LP now owns 2,394 shares of the bank’s stock valued at $90,000 after acquiring an additional 1,270 shares during the period. 47.57% of the stock is owned by hedge funds and other institutional investors.

First Mid Bancshares Trading Up 0.3%

First Mid Bancshares stock opened at $52.09 on Friday. The business has a 50-day simple moving average of $47.41 and a two-hundred day simple moving average of $44.01. The company has a market cap of $1.39 billion, a P/E ratio of 12.93 and a beta of 0.79. First Mid Bancshares has a 52-week low of $34.15 and a 52-week high of $53.36. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.03.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $1.26 EPS for the quarter, beating 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 11.17%. The firm had revenue of $109.32 million during the quarter, compared to analyst estimates of $107.42 million. Analysts predict that First Mid Bancshares will post 4.69 EPS for the current year.

First Mid Bancshares Increases Dividend

The company 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 dividend of $0.26 per share. 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 is Tuesday, August 18th. First Mid Bancshares’s 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.