First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $49.50.

Several analysts recently commented on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $48.00 target price on shares of First Mid Bancshares in a report on Friday, May 1st. Weiss Ratings reissued a “buy (b)” rating on shares of First Mid Bancshares in a report on Friday, May 1st. DA Davidson raised their price objective on shares of First Mid Bancshares from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Keefe, Bruyette & Woods boosted their price objective on First Mid Bancshares from $46.00 to $48.00 and gave the stock a “market perform” rating in a report on Friday, May 1st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $55.00 target price (up from $52.00) on shares of First Mid Bancshares in a research report on Friday, May 1st.

First Mid Bancshares Trading Up 1.9%

Shares of First Mid Bancshares stock opened at $51.00 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 0.97. The business has a fifty day simple moving average of $46.52 and a two-hundred day simple moving average of $43.57. First Mid Bancshares has a 1 year low of $34.15 and a 1 year high of $51.22. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 12.66 and a beta of 0.79.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $1.26 EPS for the quarter, beating the consensus estimate of $1.05 by $0.21. The firm had revenue of $109.32 million for 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 11.17%. Research analysts forecast that First Mid Bancshares will post 4.58 EPS for the current year.

First Mid Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $0.26 dividend. This is a boost from First Mid Bancshares’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, August 18th. This represents a $1.04 annualized dividend and a yield of 2.0%. First Mid Bancshares’s dividend payout ratio is presently 25.19%.

Institutional Investors Weigh In On First Mid Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tudor Investment Corp ET AL boosted its holdings in First Mid Bancshares by 421.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 71,260 shares of the bank’s stock valued at $2,699,000 after purchasing an additional 57,600 shares during the period. Deprince Race & Zollo Inc. increased its holdings in shares of First Mid Bancshares by 22.3% during the fourth quarter. Deprince Race & Zollo Inc. now owns 122,504 shares of the bank’s stock worth $4,778,000 after purchasing an additional 22,358 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of First Mid Bancshares in the first quarter valued at approximately $762,000. Endeavour Capital Advisors Inc. raised its position in shares of First Mid Bancshares by 10.9% in the fourth quarter. Endeavour Capital Advisors Inc. now owns 208,719 shares of the bank’s stock valued at $8,140,000 after buying an additional 20,441 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of First Mid Bancshares by 58.4% in the fourth quarter. Hsbc Holdings PLC now owns 30,042 shares of the bank’s stock valued at $1,173,000 after buying an additional 11,072 shares in the last quarter. 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.