First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have received a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $54.6250.

FMBH has been the topic of several analyst reports. Raymond James Financial restated an “outperform” rating and issued a $48.00 price objective on shares of First Mid Bancshares in a report on Friday, May 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Mid Bancshares in a report on Wednesday, July 29th. Piper Sandler upped their target price on shares of First Mid Bancshares from $55.00 to $62.50 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. DA Davidson increased their price target on First Mid Bancshares from $47.00 to $54.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, Keefe, Bruyette & Woods raised their price target on 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.

First Mid Bancshares Stock Performance

First Mid Bancshares stock opened at $50.30 on Thursday. 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 has a 1 year low of $34.15 and a 1 year high of $53.36. The company has a market cap of $1.34 billion, a PE ratio of 12.48 and a beta of 0.78. The company’s 50-day moving average is $49.75 and its two-hundred day moving average is $45.20.

First Mid Bancshares (NASDAQ:FMBH) last issued its earnings results 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 net margin of 19.76% and a return on equity of 10.86%. The company had revenue of $109.32 million for the quarter, compared to analyst estimates of $107.42 million. Equities analysts anticipate that First Mid Bancshares will post 4.69 earnings per share for the current year.

First Mid Bancshares Increases Dividend

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

Hedge Funds Weigh In On First Mid Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC grew its holdings 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 buying an additional 326 shares during the period. CWM LLC lifted its holdings in First Mid Bancshares by 5.8% during the fourth quarter. CWM LLC now owns 6,283 shares of the bank’s stock worth $245,000 after acquiring an additional 343 shares in the last quarter. Federated Hermes Inc. lifted its holdings in First Mid Bancshares by 32.0% during the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock worth $64,000 after acquiring an additional 415 shares in the last quarter. Clearstead Advisors LLC grew its stake in First Mid Bancshares by 147.2% in the fourth quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock valued at $33,000 after acquiring an additional 505 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of 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 acquiring an additional 538 shares in the last quarter. Institutional investors own 47.57% of the company’s stock.

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.