Raymond James Financial Inc. Invests $488,000 in First Mid Bancshares, Inc. (NASDAQ:FMBH)

Raymond James Financial Inc. purchased a new stake in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,251 shares of the bank’s stock, valued at approximately $488,000.

A number of other hedge funds also recently added to or reduced their stakes in FMBH. Victory Capital Management Inc. increased its holdings in shares of First Mid Bancshares by 10.5% in the 4th quarter. Victory Capital Management Inc. now owns 32,700 shares of the bank’s stock worth $1,204,000 after purchasing an additional 3,100 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in First Mid Bancshares by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 176,350 shares of the bank’s stock worth $6,493,000 after buying an additional 1,096 shares in the last quarter. Fisher Asset Management LLC purchased a new position in First Mid Bancshares in the 4th quarter worth about $807,000. Bank of New York Mellon Corp lifted its stake in First Mid Bancshares by 20.2% during the 4th quarter. Bank of New York Mellon Corp now owns 120,471 shares of the bank’s stock valued at $4,436,000 after acquiring an additional 20,266 shares during the period. Finally, New York State Teachers Retirement System purchased a new stake in shares of First Mid Bancshares during the 4th quarter valued at about $76,000. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

First Mid Bancshares Stock Performance

FMBH opened at $31.05 on Tuesday. The company’s 50 day moving average is $36.67 and its 200 day moving average is $38.18. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.41. The company has a market cap of $744.64 million, a price-to-earnings ratio of 9.44 and a beta of 0.85. First Mid Bancshares, Inc. has a 12-month low of $27.58 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 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.05. First Mid Bancshares had a net margin of 17.39% and a return on equity of 10.10%. On average, equities research analysts predict that First Mid Bancshares, Inc. will post 3.61 EPS for the current year.

First Mid Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Thursday, February 13th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Thursday, February 13th. First Mid Bancshares’s dividend payout ratio is presently 29.18%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FMBH shares. Hovde Group decreased their price objective on shares of First Mid Bancshares from $48.00 to $43.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Stephens reissued an “equal weight” rating and set a $43.00 price target on shares of First Mid Bancshares in a report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $45.00.

First Mid Bancshares Profile

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.