Analysts 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 research firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $49.50.

A number of equities analysts recently issued reports on FMBH shares. Weiss Ratings restated a “buy (b)” rating on shares of First Mid Bancshares in a research note on Friday, May 1st. DA Davidson lifted their price objective on First Mid Bancshares from $44.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Keefe, Bruyette & Woods lifted their price objective on First Mid Bancshares from $46.00 to $48.00 and gave the company a “market perform” rating in a research note on Friday, May 1st. Raymond James Financial reiterated an “outperform” rating and set a $48.00 price objective on shares of First Mid Bancshares in a research note on Friday, May 1st. Finally, Piper Sandler reiterated an “overweight” rating and set a $55.00 price objective (up from $52.00) on shares of First Mid Bancshares in a research note on Friday, May 1st.

First Mid Bancshares Stock Performance

Shares of FMBH stock opened at $42.57 on Tuesday. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 10.72 and a beta of 0.79. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 0.97. The business has a fifty day moving average of $41.90 and a 200 day moving average of $40.89. First Mid Bancshares has a 1 year low of $33.67 and a 1 year high of $44.85.

First Mid Bancshares (NASDAQ:FMBH) last issued its earnings results on Wednesday, April 29th. The bank reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.19. The company had revenue of $98.54 million during the quarter, compared to analyst estimates of $96.45 million. First Mid Bancshares had a return on equity of 10.44% and a net margin of 19.95%. As a group, research analysts expect that First Mid Bancshares will post 4.58 earnings per share for the current year.

First Mid Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.3%. First Mid Bancshares’s dividend payout ratio (DPR) is presently 25.19%.

Hedge Funds Weigh In On First Mid Bancshares

A number of institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. raised its stake in shares of First Mid Bancshares by 17.4% during the 3rd quarter. Federated Hermes Inc. now owns 2,007 shares of the bank’s stock valued at $76,000 after buying an additional 297 shares during the last quarter. Jane Street Group LLC raised its stake in shares of First Mid Bancshares by 0.8% during the 4th quarter. Jane Street Group LLC now owns 41,096 shares of the bank’s stock valued at $1,603,000 after buying an additional 326 shares during the last quarter. CWM LLC raised its stake in shares of First Mid Bancshares by 5.8% during the 4th quarter. CWM LLC now owns 6,283 shares of the bank’s stock valued at $245,000 after buying an additional 343 shares during the last quarter. Clearstead Advisors LLC raised 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 during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of First Mid Bancshares by 17.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the bank’s stock valued at $141,000 after buying an additional 538 shares during the last quarter. Hedge funds and other institutional investors 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.