First Mid Bancshares (NASDAQ:FMBH) Given New $48.00 Price Target at Keefe, Bruyette & Woods

First Mid Bancshares (NASDAQ:FMBH) had its target price hoisted by Keefe, Bruyette & Woods from $46.00 to $48.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a market perform rating on the bank’s stock.

Several other brokerages have also issued reports on FMBH. Raymond James Financial reaffirmed an “outperform” rating and set a $48.00 price objective on shares of First Mid Bancshares in a report on Friday. Piper Sandler reaffirmed an “overweight” rating and set a $55.00 price objective (up from $52.00) on shares of First Mid Bancshares in a report on Friday. Zacks Research lowered First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, DA Davidson raised their price objective on First Mid Bancshares from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.25.

First Mid Bancshares Stock Performance

Shares of FMBH stock traded up $1.34 during mid-day trading on Friday, hitting $43.43. 106,454 shares of the stock were exchanged, compared to its average volume of 97,365. The stock’s fifty day simple moving average is $41.69 and its two-hundred day simple moving average is $40.38. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 10.94 and a beta of 0.82. First Mid Bancshares has a 12-month low of $33.67 and a 12-month high of $44.85. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.96 and a current ratio of 0.96.

First Mid Bancshares (NASDAQ:FMBH) last issued its quarterly earnings data on Wednesday, April 29th. The bank reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.19. The company had revenue of $98.54 million for the quarter, compared to analyst estimates of $96.45 million. First Mid Bancshares had a return on equity of 10.86% and a net margin of 19.95%. On average, analysts forecast that First Mid Bancshares will post 4.49 EPS for the current year.

First Mid Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, May 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. First Mid Bancshares’s dividend payout ratio is 25.19%.

Insider Buying and Selling at First Mid Bancshares

In other news, EVP Bradley L. Beesley sold 6,000 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $44.00, for a total transaction of $264,000.00. Following the completion of the sale, the executive vice president owned 12,378 shares in the company, valued at approximately $544,632. This represents a 32.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On First Mid Bancshares

Several hedge funds have recently made changes to their positions in FMBH. Clearstead Advisors LLC boosted its stake in shares of First Mid Bancshares by 147.2% during the fourth quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock worth $33,000 after buying an additional 505 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of First Mid Bancshares during the third quarter worth about $36,000. Strs Ohio acquired a new stake in First Mid Bancshares in the first quarter valued at about $42,000. Aquatic Capital Management LLC lifted its position in First Mid Bancshares by 272.5% in the third quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank’s stock valued at $54,000 after purchasing an additional 1,052 shares during the period. Finally, Federated Hermes Inc. lifted its position in First Mid Bancshares by 32.0% in the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock valued at $64,000 after purchasing an additional 415 shares during the period. Institutional investors and hedge funds own 47.57% of the company’s stock.

About First Mid Bancshares

First Mid Bancshares, Inc (NASDAQ: FMBH), headquartered in Mattoon, Illinois, is a financial services holding company that offers a comprehensive suite of banking products and services through its main subsidiary, First Mid Bank & Trust. The company’s primary business activities include commercial and retail banking, mortgage origination and servicing, wealth management and trust administration, as well as treasury and cash management solutions.

Through its branch network, First Mid provides consumer deposit products such as checking and savings accounts, certificates of deposit and online banking services.