First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives Average Recommendation of “Moderate Buy” from Brokerages

First Mid Bancshares, Inc. (NASDAQ:FMBH) has earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $54.6250.

A number of equities research analysts recently issued reports on the stock. Piper Sandler boosted their target price on shares of First Mid Bancshares from $55.00 to $62.50 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods increased their price target on shares of First Mid Bancshares from $50.00 to $54.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. DA Davidson lifted their price target on shares of First Mid Bancshares from $47.00 to $54.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of First Mid Bancshares in a research note on Wednesday, July 29th.

First Mid Bancshares Price Performance

Shares of NASDAQ:FMBH opened at $49.98 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 12.40 and a beta of 0.78. The stock’s 50-day moving average price is $50.75 and its two-hundred day moving average price is $46.10. First Mid Bancshares has a 12-month low of $34.15 and a 12-month high of $53.36.

First Mid Bancshares (NASDAQ:FMBH) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $1.26 EPS for the quarter, beating analysts’ consensus estimates 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, research analysts forecast that First Mid Bancshares will post 4.69 EPS for the current year.

First Mid Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were issued a $0.26 dividend. The ex-dividend date was Tuesday, August 18th. This is an increase from First Mid Bancshares’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. First Mid Bancshares’s payout ratio is 25.81%.

Institutional Investors Weigh In On First Mid Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in FMBH. Integrated Wealth Concepts LLC acquired a new position in shares of First Mid Bancshares in the 2nd quarter valued at about $31,000. Clearstead Advisors LLC grew its holdings in shares of First Mid Bancshares by 147.2% during the 4th quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock worth $33,000 after purchasing an additional 505 shares during the period. Deutsche Bank AG acquired a new stake in First Mid Bancshares during the 2nd quarter worth approximately $59,000. Quantbot Technologies LP acquired a new stake in First Mid Bancshares during the 2nd quarter worth approximately $62,000. Finally, Empowered Funds LLC purchased a new position in First Mid Bancshares in the second quarter valued at approximately $179,000. 47.57% of the stock is currently owned by institutional investors and hedge funds.

About First Mid Bancshares

First Mid Bancshares, Inc is a financial services holding company headquartered in Mattoon, Illinois. Through its subsidiary, First Mid Bank & Trust, the company provides banking and related financial services to individuals, families, farmers, businesses and public-sector customers.

The company’s banking offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate loans, agricultural lending, consumer loans, business financing and treasury management services.