Sanctuary Advisors LLC Acquires Shares of 90,342 First Mid Bancshares, Inc. $FMBH

Sanctuary Advisors LLC bought a new position in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) in the second quarter, Holdings Channel reports. The firm bought 90,342 shares of the bank’s stock, valued at approximately $3,126,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FMBH. Jane Street Group LLC lifted its stake in shares of First Mid Bancshares by 0.8% in the 4th quarter. Jane Street Group LLC now owns 41,096 shares of the bank’s stock valued at $1,603,000 after purchasing an additional 326 shares during the period. CWM LLC boosted its stake in First Mid Bancshares by 5.8% during the 4th quarter. CWM LLC now owns 6,283 shares of the bank’s stock worth $245,000 after acquiring an additional 343 shares during the last quarter. Federated Hermes Inc. raised its holdings in First Mid Bancshares by 32.0% in the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock worth $64,000 after purchasing an additional 415 shares during the period. Clearstead Advisors LLC raised its holdings in First Mid Bancshares by 147.2% in the fourth quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock worth $33,000 after purchasing an additional 505 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in First Mid Bancshares by 17.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the bank’s stock worth $141,000 after purchasing an additional 538 shares during the period. Institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Trading Down 0.6%

FMBH opened at $50.14 on Wednesday. The stock has a market capitalization of $1.33 billion, a P/E ratio of 12.44 and a beta of 0.78. First Mid Bancshares, Inc. has a 12 month low of $34.15 and a 12 month high of $53.36. The firm’s fifty day simple moving average is $49.65 and its 200 day simple moving average is $45.15. 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 (NASDAQ:FMBH) last announced its earnings results on Thursday, July 23rd. The bank reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.21. The firm had revenue of $109.32 million during the quarter, compared to analyst estimates of $107.42 million. First Mid Bancshares had a net margin of 19.76% and a return on equity of 10.86%. As a group, research analysts anticipate that First Mid Bancshares, Inc. will post 4.69 EPS for the current fiscal year.

First Mid Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.1%. This is a positive change from First Mid Bancshares’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, August 18th. First Mid Bancshares’s dividend payout ratio is presently 25.81%.

Analysts Set New Price Targets

Several research firms have weighed in on FMBH. Keefe, Bruyette & Woods lifted their target price on First Mid Bancshares from $50.00 to $54.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Mid Bancshares in a research report on Wednesday, July 29th. Piper Sandler lifted their price objective on First Mid Bancshares from $55.00 to $62.50 and gave the company an “overweight” rating in a report on Tuesday, July 28th. DA Davidson boosted their price objective on First Mid Bancshares from $47.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, Raymond James Financial reissued an “outperform” rating and set a $48.00 target price on shares of First Mid Bancshares in a research note on Friday, May 1st. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, First Mid Bancshares has an average rating of “Moderate Buy” and a consensus target price of $54.62.

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.