First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives $42.50 Consensus Price Target from Brokerages

First Mid Bancshares, Inc. (NASDAQ:FMBH) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $42.50.

A number of research analysts have commented on FMBH shares. Piper Sandler increased their price objective on shares of First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Stephens reissued an “equal weight” rating and set a $43.00 price target on shares of First Mid Bancshares in a research report on Friday, January 24th. Keefe, Bruyette & Woods lifted their price objective 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. Finally, DA Davidson cut shares of First Mid Bancshares from a “buy” rating to a “neutral” rating and increased their target price for the stock from $44.00 to $47.00 in a report on Tuesday, November 12th.

First Mid Bancshares Trading Down 2.1 %

FMBH opened at $38.15 on Friday. The firm’s 50 day moving average is $38.80 and its 200-day moving average is $38.84. First Mid Bancshares has a 52-week low of $28.86 and a 52-week high of $43.86. 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 firm has a market capitalization of $912.17 million, a P/E ratio of 11.74 and a beta of 0.93.

First Mid Bancshares (NASDAQ:FMBH) last announced its earnings results on Thursday, January 23rd. The bank reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. First Mid Bancshares had a return on equity of 10.38% and a net margin of 17.32%. Analysts expect that First Mid Bancshares will post 3.42 EPS for the current fiscal year.

First Mid Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Thursday, February 13th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.52%. First Mid Bancshares’s dividend payout ratio is currently 29.54%.

Insider Activity at First Mid Bancshares

In other First Mid Bancshares news, Director James Edwin Zimmer purchased 1,000 shares of the stock in a transaction dated Thursday, December 19th. The shares were bought at an average cost of $39.87 per share, with a total value of $39,870.00. Following the completion of the acquisition, the director now owns 4,050 shares of the company’s stock, valued at approximately $161,473.50. This trade represents a 32.79 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Mid Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of FMBH. Dimensional Fund Advisors LP raised its stake in shares of First Mid Bancshares by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 778,135 shares of the bank’s stock worth $25,584,000 after buying an additional 36,769 shares in the last quarter. Wellington Management Group LLP lifted its stake in First Mid Bancshares by 7.3% during the third quarter. Wellington Management Group LLP now owns 387,926 shares of the bank’s stock valued at $15,094,000 after purchasing an additional 26,560 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of First Mid Bancshares by 24.1% in the third quarter. JPMorgan Chase & Co. now owns 133,132 shares of the bank’s stock valued at $5,180,000 after buying an additional 25,855 shares in the last quarter. Creative Planning lifted its position in shares of First Mid Bancshares by 2.1% during the 2nd quarter. Creative Planning now owns 106,397 shares of the bank’s stock valued at $3,498,000 after acquiring an additional 2,186 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of First Mid Bancshares by 1.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 88,910 shares of the bank’s stock worth $3,459,000 after acquiring an additional 900 shares during the last quarter. 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.