First Mid Bancshares (NASDAQ:FMBH) Releases Earnings Results, Beats Estimates By $0.21 EPS

First Mid Bancshares (NASDAQ:FMBH) issued its quarterly earnings results on Thursday. The bank reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.21, FiscalAI reports. First Mid Bancshares had a net margin of 19.95% and a return on equity of 10.44%. The company had revenue of $109.32 million during the quarter, compared to analyst estimates of $107.42 million.

First Mid Bancshares Price Performance

FMBH stock traded up $0.36 during mid-day trading on Thursday, reaching $48.87. 44,441 shares of the company traded hands, compared to its average volume of 124,706. 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 company has a market capitalization of $1.30 billion, a P/E ratio of 12.30 and a beta of 0.79. First Mid Bancshares has a 52-week low of $34.15 and a 52-week high of $50.51. The company has a fifty day moving average price of $46.18 and a 200-day moving average price of $43.44.

First Mid Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Friday, May 15th. First Mid Bancshares’s payout ratio is presently 25.19%.

Institutional Investors Weigh In On First Mid Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in First Mid Bancshares by 256.9% during the 1st quarter. AQR Capital Management LLC now owns 105,648 shares of the bank’s stock worth $3,687,000 after acquiring an additional 76,050 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in First Mid Bancshares by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,566 shares of the bank’s stock valued at $473,000 after purchasing an additional 550 shares during the period. Jones Financial Companies Lllp grew its position in shares of First Mid Bancshares by 1,662.9% during the 1st quarter. Jones Financial Companies Lllp now owns 4,231 shares of the bank’s stock valued at $148,000 after purchasing an additional 3,991 shares in the last quarter. Empowered Funds LLC grew its position in shares of First Mid Bancshares by 31.5% during the 1st quarter. Empowered Funds LLC now owns 72,134 shares of the bank’s stock valued at $2,517,000 after purchasing an additional 17,266 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of First Mid Bancshares by 494.1% in the first quarter. Jane Street Group LLC now owns 32,755 shares of the bank’s stock worth $1,143,000 after purchasing an additional 27,242 shares during the period. 47.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FMBH shares. DA Davidson upped 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. Piper Sandler reissued an “overweight” rating and issued a $55.00 target price (up from $52.00) on shares of First Mid Bancshares in a research report on Friday, May 1st. Weiss Ratings restated a “buy (b)” rating on shares of First Mid Bancshares in a research note on Friday, May 1st. Raymond James Financial restated an “outperform” rating and issued a $48.00 target price on shares of First Mid Bancshares in a research note on Friday, May 1st. Finally, Keefe, Bruyette & Woods upped their price target on First Mid Bancshares from $46.00 to $48.00 and gave the company a “market perform” rating in a research report on Friday, May 1st. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.50.

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.