Brokerages Set First Mid Bancshares, Inc. (NASDAQ:FMBH) Price Target at $42.50

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $42.50.

A number of research firms recently commented on FMBH. DA Davidson lowered shares of First Mid Bancshares from a “buy” rating to a “neutral” rating and raised their price target for the stock from $44.00 to $47.00 in a research report on Tuesday, November 12th. Keefe, Bruyette & Woods raised their target price on shares of First Mid Bancshares from $42.00 to $45.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Stephens cut First Mid Bancshares from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Finally, Piper Sandler increased their price target on First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st.

First Mid Bancshares Stock Performance

Shares of NASDAQ FMBH opened at $36.19 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $865.38 million, a price-to-earnings ratio of 11.14 and a beta of 0.91. The stock’s fifty day moving average price is $40.12 and its two-hundred day moving average price is $38.22. First Mid Bancshares has a one year low of $28.86 and a one year high of $43.86.

First Mid Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Thursday, November 14th. First Mid Bancshares’s dividend payout ratio (DPR) is presently 29.54%.

Institutional Investors Weigh In On First Mid Bancshares

A number of large investors have recently modified their holdings of the business. Franklin Resources Inc. acquired a new position in shares of First Mid Bancshares during the 3rd quarter worth $566,000. Barclays PLC grew its position in First Mid Bancshares by 327.6% in the third quarter. Barclays PLC now owns 34,347 shares of the bank’s stock valued at $1,337,000 after acquiring an additional 26,315 shares during the last quarter. SG Americas Securities LLC raised its stake in First Mid Bancshares by 44.6% during the third quarter. SG Americas Securities LLC now owns 12,006 shares of the bank’s stock worth $467,000 after acquiring an additional 3,703 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of First Mid Bancshares by 2.2% in the second quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank’s stock worth $998,000 after acquiring an additional 650 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of First Mid Bancshares by 106.4% in the 2nd quarter. AQR Capital Management LLC now owns 31,333 shares of the bank’s stock valued at $1,030,000 after purchasing an additional 16,150 shares in the last quarter. Institutional investors and hedge funds own 47.57% of the company’s stock.

About First Mid Bancshares

First Mid Bancshares, Inc, a financial holding company, provides community banking products and services to commercial, retail, and agricultural customers in the United States. It accepts various deposit products, such as demand deposits, savings accounts, money market deposits, and time deposits. The company’s loan products include commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans, as well as construction and land development, 1-4 family residential properties, and multifamily residential properties loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.