Man Group plc Makes New Investment in First Mid Bancshares, Inc. $FMBH

Man Group plc bought a new stake in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 176,331 shares of the bank’s stock, valued at approximately $6,101,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Clearstead Advisors LLC grew its position 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 acquiring an additional 505 shares during the period. Strs Ohio bought a new position in First Mid Bancshares in the 1st quarter worth $42,000. Quantbot Technologies LP bought a new position in First Mid Bancshares in the 2nd quarter worth $62,000. Aquatic Capital Management LLC lifted its position in First Mid Bancshares by 272.5% during the third 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 in the last quarter. Finally, Federated Hermes Inc. lifted its position in First Mid Bancshares by 32.0% during the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock valued at $64,000 after purchasing an additional 415 shares in the last quarter. 47.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

First Mid Bancshares Stock Up 0.1%

Shares of NASDAQ FMBH opened at $50.34 on Friday. 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. The firm’s 50-day moving average price is $49.93 and its 200-day moving average price is $45.27. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 12.49 and a beta of 0.78.

First Mid Bancshares (NASDAQ:FMBH) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.21. The company had revenue of $109.32 million during the quarter, compared to the consensus estimate of $107.42 million. First Mid Bancshares had a return on equity of 10.86% and a net margin of 19.76%. On average, equities research analysts anticipate that First Mid Bancshares, Inc. will post 4.69 EPS for the current fiscal year.

First Mid Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.26 per share. 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. The ex-dividend date of this dividend is Tuesday, August 18th. First Mid Bancshares’s dividend payout ratio is 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.