The Manufacturers Life Insurance Company Purchases Shares of 205,999 First Mid Bancshares, Inc. $FMBH

The Manufacturers Life Insurance Company purchased a new position in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) during the 2nd quarter, Holdings Channel reports. The fund purchased 205,999 shares of the bank’s stock, valued at approximately $9,906,000.

A number of other large investors also recently modified their holdings of FMBH. Clearstead Advisors LLC grew its holdings in shares of First Mid Bancshares by 147.2% in 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 in the last quarter. Strs Ohio acquired a new position in First Mid Bancshares during the first quarter valued at approximately $42,000. Aquatic Capital Management LLC boosted 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 during the last quarter. Deutsche Bank AG bought a new position in First Mid Bancshares in the second quarter valued at approximately $59,000. Finally, Quantbot Technologies LP bought a new position in First Mid Bancshares in the second quarter valued at approximately $62,000. 47.57% of the stock is currently owned by institutional investors and hedge funds.

First Mid Bancshares Trading Up 0.1%

First Mid Bancshares stock opened at $50.34 on Friday. The stock has a 50-day simple moving average of $49.93 and a 200 day simple moving average of $45.27. The stock has a market capitalization of $1.34 billion, a P/E ratio of 12.49 and a beta of 0.78. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.95 and a current ratio of 0.95. First Mid Bancshares, Inc. has a 52 week low of $34.15 and a 52 week high of $53.36.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.21. First Mid Bancshares had a return on equity of 10.86% and a net margin of 19.76%.The firm had revenue of $109.32 million for the quarter, compared to analyst estimates of $107.42 million. Analysts expect that First Mid Bancshares, Inc. will post 4.69 earnings per share for the current year.

First Mid Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $0.26 dividend. This is a boost from First Mid Bancshares’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, August 18th. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. First Mid Bancshares’s dividend payout ratio (DPR) is currently 25.81%.

Analyst Upgrades and Downgrades

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

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.