First Mid Bancshares (NASDAQ:FMBH) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

First Mid Bancshares (NASDAQ:FMBH) released its quarterly earnings results on Wednesday. The bank reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.06, FiscalAI reports. First Mid Bancshares had a return on equity of 10.44% and a net margin of 19.69%.The firm had revenue of $98.54 million for the quarter, compared to analysts’ expectations of $96.85 million.

First Mid Bancshares Trading Down 1.8%

NASDAQ FMBH traded down $0.77 during trading on Wednesday, hitting $43.00. 125,788 shares of the company’s stock traded hands, compared to its average volume of 114,494. The stock has a fifty day moving average of $41.73 and a two-hundred day moving average of $40.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.96 and a quick ratio of 0.96. First Mid Bancshares has a 12-month low of $32.62 and a 12-month high of $44.85. The firm has a market cap of $1.14 billion, a P/E ratio of 11.20 and a beta of 0.82.

Insider Transactions at First Mid Bancshares

In other First Mid Bancshares news, EVP Bradley L. Beesley sold 6,000 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $44.00, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 6.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Mid Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the company. Oxford Asset Management LLP bought a new position in First Mid Bancshares in the second quarter worth about $276,000. Verition Fund Management LLC bought a new position in shares of First Mid Bancshares during the fourth quarter valued at approximately $275,000. Sei Investments Co. bought a new position in shares of First Mid Bancshares during the second quarter valued at approximately $243,000. EP Wealth Advisors LLC bought a new stake in shares of First Mid Bancshares during the fourth quarter valued at approximately $212,000. Finally, Jones Financial Companies Lllp increased its position in shares of First Mid Bancshares by 1,662.9% during the first quarter. Jones Financial Companies Lllp now owns 4,231 shares of the bank’s stock valued at $148,000 after acquiring an additional 3,991 shares in the last quarter. 47.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Zacks Research cut First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. DA Davidson upped their target price on shares of First Mid Bancshares from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Monday, February 2nd. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.75.

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.