Connor Clark & Lunn Investment Management Ltd. Has $1.06 Million Stake in First Mid Bancshares, Inc. (NASDAQ:FMBH)

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) by 29.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,895 shares of the bank’s stock after buying an additional 6,564 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in First Mid Bancshares were worth $1,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in First Mid Bancshares by 7.3% in the 3rd quarter. Wellington Management Group LLP now owns 387,926 shares of the bank’s stock worth $15,094,000 after purchasing an additional 26,560 shares during the last quarter. Barclays PLC lifted its holdings in First Mid Bancshares by 327.6% in the 3rd quarter. Barclays PLC now owns 34,347 shares of the bank’s stock worth $1,337,000 after purchasing an additional 26,315 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in First Mid Bancshares by 24.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 133,132 shares of the bank’s stock worth $5,180,000 after purchasing an additional 25,855 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in First Mid Bancshares in the 4th quarter worth approximately $807,000. Finally, Bank of New York Mellon Corp lifted its holdings in First Mid Bancshares by 20.2% in the 4th quarter. Bank of New York Mellon Corp now owns 120,471 shares of the bank’s stock worth $4,436,000 after purchasing an additional 20,266 shares during the last quarter. 47.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FMBH has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their target price on First Mid Bancshares from $42.00 to $45.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Hovde Group reduced their target price on First Mid Bancshares from $48.00 to $43.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Finally, Stephens reaffirmed 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. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $45.00.

First Mid Bancshares Stock Performance

Shares of NASDAQ FMBH opened at $35.24 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average is $37.23 and its two-hundred day moving average is $38.61. The company has a market cap of $845.13 million, a P/E ratio of 10.71 and a beta of 0.88. First Mid Bancshares, Inc. has a 12 month low of $28.86 and a 12 month high of $43.86.

First Mid Bancshares (NASDAQ:FMBH) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.87 EPS for the quarter, topping 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%. On average, equities analysts expect that First Mid Bancshares, Inc. will post 3.61 EPS for the current year.

First Mid Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Thursday, February 13th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date was Thursday, February 13th. First Mid Bancshares’s dividend payout ratio is presently 29.18%.

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.