The Manufacturers Life Insurance Company Buys Shares of 205,999 First Mid Bancshares, Inc. $FMBH

The Manufacturers Life Insurance Company bought a new position in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 205,999 shares of the bank’s stock, valued at approximately $9,906,000. The Manufacturers Life Insurance Company owned about 0.77% of First Mid Bancshares at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Clearstead Advisors LLC increased its stake in shares of First Mid Bancshares by 147.2% in the 4th quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock valued at $33,000 after acquiring an additional 505 shares during the last quarter. Strs Ohio bought a new position in First Mid Bancshares during the 1st quarter worth approximately $42,000. Aquatic Capital Management LLC grew its holdings in First Mid Bancshares by 272.5% during 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. Deutsche Bank AG acquired a new position in First Mid Bancshares during the second quarter valued at approximately $59,000. Finally, Quantbot Technologies LP bought a new stake in First Mid Bancshares in the second quarter valued at approximately $62,000. 47.57% of the stock is currently owned by institutional investors and hedge funds.

First Mid Bancshares Stock Performance

Shares of FMBH stock opened at $50.34 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.95 and a current ratio of 0.95. First Mid Bancshares, Inc. has a 52 week low of $34.15 and a 52 week high of $53.36. The company’s 50 day moving average price is $49.93 and its two-hundred day moving average price is $45.27. The company has a market capitalization of $1.34 billion, a P/E ratio of 12.49 and a beta of 0.78.

First Mid Bancshares (NASDAQ:FMBH) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.21. The company had revenue of $109.32 million during the quarter, compared to the consensus estimate of $107.42 million. First Mid Bancshares had a net margin of 19.76% and a return on equity of 10.86%. On average, analysts expect that First Mid Bancshares, Inc. will post 4.69 earnings per share for the current fiscal year.

First Mid Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, August 18th. This is a positive change from First Mid Bancshares’s previous quarterly dividend of $0.25. First Mid Bancshares’s dividend payout ratio (DPR) is presently 25.81%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on FMBH shares. Piper Sandler increased their target price on shares of First Mid Bancshares from $55.00 to $62.50 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Weiss Ratings restated a “buy (b)” rating on shares of First Mid Bancshares in a research report on Wednesday, July 29th. DA Davidson raised their price objective on First Mid Bancshares from $47.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Finally, Keefe, Bruyette & Woods lifted their target price on First Mid Bancshares from $50.00 to $54.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.62.

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.