First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives $42.80 Consensus Price Target from Analysts

First Mid Bancshares, Inc. (NASDAQ:FMBH) has been given a consensus recommendation of “Moderate Buy” by the seven research firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $43.60.

Several analysts have recently issued reports on FMBH shares. DA Davidson lifted their target price on shares of First Mid Bancshares from $45.00 to $46.00 and gave the company a “neutral” rating in a research report on Monday, February 2nd. Zacks Research cut First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of First Mid Bancshares in a report on Monday, December 29th. Finally, Piper Sandler lowered their price target on First Mid Bancshares from $49.00 to $48.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd.

First Mid Bancshares Stock Up 1.3%

First Mid Bancshares stock opened at $44.59 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $1.07 billion, a PE ratio of 11.61 and a beta of 0.91. The business has a 50 day simple moving average of $41.05 and a 200-day simple moving average of $39.05. First Mid Bancshares has a 12 month low of $27.58 and a 12 month high of $44.85.

First Mid Bancshares (NASDAQ:FMBH) last announced its earnings results on Thursday, January 29th. The bank reported $1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.06. The firm had revenue of $90.14 million for the quarter, compared to analyst estimates of $67.86 million. First Mid Bancshares had a return on equity of 10.61% and a net margin of 19.69%. On average, analysts anticipate that First Mid Bancshares will post 3.61 EPS for the current fiscal year.

First Mid Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Thursday, February 12th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, February 12th. First Mid Bancshares’s payout ratio is 26.04%.

Insiders Place Their Bets

In other news, EVP Bradley L. Beesley sold 6,000 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $44.00, for a total value of $264,000.00. Following the completion of the sale, the executive vice president directly owned 12,378 shares in the company, valued at $544,632. This represents a 32.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Clay M. Dean sold 1,099 shares of the firm’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $42.69, for a total transaction of $46,916.31. Following the completion of the transaction, the chief executive officer directly owned 9,624 shares in the company, valued at approximately $410,848.56. This represents a 10.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 7.70% of the stock is owned by corporate insiders.

Institutional Trading of First Mid Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue acquired a new position in First Mid Bancshares in the third quarter valued at approximately $36,000. Strs Ohio acquired a new position in shares of First Mid Bancshares in the 1st quarter valued at $42,000. Aquatic Capital Management LLC lifted its stake in shares of 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 purchasing an additional 1,052 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of First Mid Bancshares by 32.0% during the 2nd quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock worth $64,000 after purchasing an additional 415 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of First Mid Bancshares by 176.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,075 shares of the bank’s stock worth $78,000 after purchasing an additional 1,324 shares during the last quarter. Institutional investors and hedge funds own 47.57% of the company’s stock.

About First Mid Bancshares

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.