Hovde Group Cuts First Mid Bancshares (NASDAQ:FMBH) Price Target to $43.00

First Mid Bancshares (NASDAQ:FMBH) had its price objective reduced by Hovde Group from $48.00 to $43.00 in a research note issued to investors on Friday morning, Marketbeat reports. They currently have an outperform rating on the bank’s stock.

Several other equities analysts have also recently issued reports on the company. Stephens restated an “equal weight” rating and issued a $43.00 price target on shares of First Mid Bancshares in a research report on Friday, January 24th. Keefe, Bruyette & Woods boosted their price target on First Mid Bancshares from $42.00 to $45.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, First Mid Bancshares has an average rating of “Hold” and an average price target of $45.00.

First Mid Bancshares Stock Up 1.3 %

FMBH opened at $35.45 on Friday. The stock has a market capitalization of $850.16 million, a P/E ratio of 10.78 and a beta of 0.88. First Mid Bancshares has a one year low of $28.86 and a one year high of $43.86. The business’s 50-day simple moving average is $37.25 and its 200-day simple moving average is $38.72. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 0.91.

First Mid Bancshares (NASDAQ:FMBH) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.05. First Mid Bancshares had a return on equity of 10.10% and a net margin of 17.39%. Analysts anticipate that First Mid Bancshares will post 3.61 EPS for the current year.

First Mid Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Thursday, February 13th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.71%. The ex-dividend date was Thursday, February 13th. First Mid Bancshares’s payout ratio is 29.18%.

Insiders Place Their Bets

In other news, Director James Edwin Zimmer purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were acquired at an average price of $39.87 per share, with a total value of $39,870.00. Following the purchase, the director now directly owns 4,050 shares of the company’s stock, valued at $161,473.50. The trade was a 32.79 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 7.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Mid Bancshares

Institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC boosted its stake in shares of First Mid Bancshares by 804.9% during the 4th quarter. Sterling Capital Management LLC now owns 733 shares of the bank’s stock worth $27,000 after acquiring an additional 652 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of First Mid Bancshares by 1,226.4% during the 4th quarter. Federated Hermes Inc. now owns 955 shares of the bank’s stock worth $35,000 after acquiring an additional 883 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of First Mid Bancshares during the 4th quarter worth approximately $65,000. Tower Research Capital LLC TRC boosted its stake in shares of First Mid Bancshares by 16.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,959 shares of the bank’s stock worth $72,000 after acquiring an additional 276 shares in the last quarter. Finally, New York State Teachers Retirement System purchased a new stake in shares of First Mid Bancshares during the 4th quarter worth approximately $76,000. Hedge funds and other institutional investors 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.