First Mid Bancshares (NASDAQ:FMBH) Stock Rating Raised to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of First Mid Bancshares (NASDAQ:FMBH) from a hold rating to a strong-buy rating in a research note released on Monday,Zacks reports.

A number of other research firms have also weighed in on FMBH. DA Davidson lifted their price objective on shares of First Mid Bancshares from $53.00 to $56.00 and gave the company a “neutral” rating in a research report on Friday, October 30th. Keefe, Bruyette & Woods upped their price objective on shares of First Mid Bancshares from $50.00 to $54.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Piper Sandler raised their target price on shares of First Mid Bancshares from $62.50 to $64.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Weiss Ratings cut shares of First Mid Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.50.

First Mid Bancshares Stock Down 1.2%

First Mid Bancshares stock opened at $50.84 on Monday. First Mid Bancshares has a twelve month low of $35.33 and a twelve month high of $53.36. The stock has a 50 day moving average of $50.00 and a two-hundred day moving average of $46.17. 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 stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 11.71 and a beta of 0.80.

First Mid Bancshares (NASDAQ:FMBH) last announced its earnings results on Thursday, October 29th. The bank reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.12. First Mid Bancshares had a return on equity of 11.55% and a net margin of 20.87%. The company had revenue of $107.43 million for the quarter, compared to the consensus estimate of $108.47 million. As a group, research analysts expect that First Mid Bancshares will post 4.81 earnings per share for the current year.

First Mid Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, November 16th. First Mid Bancshares’s dividend payout ratio is currently 23.96%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FMBH. Nisa Investment Advisors LLC grew its position in First Mid Bancshares by 36.0% during the third quarter. Nisa Investment Advisors LLC now owns 1,170 shares of the bank’s stock worth $57,000 after buying an additional 310 shares during the period. Arizona State Retirement System increased its holdings in First Mid Bancshares by 8.3% in the second quarter. Arizona State Retirement System now owns 6,428 shares of the bank’s stock valued at $309,000 after buying an additional 495 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of First Mid Bancshares during the 2nd quarter valued at approximately $31,000. USA Financial Formulas acquired a new stake in shares of First Mid Bancshares during the 3rd quarter valued at approximately $40,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of First Mid Bancshares by 23.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,455 shares of the bank’s stock worth $184,000 after acquiring an additional 848 shares in the last quarter. Hedge funds and other institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Company Profile

First Mid Bancshares, Inc is a financial services holding company headquartered in Mattoon, Illinois. Through its principal subsidiary, First Mid Bank & Trust, N.A., the company provides banking and related financial services to individuals, families, farmers, businesses and governmental entities.

First Mid Bank & Trust offers deposit accounts, consumer and commercial lending, agricultural loans, mortgage services, treasury and cash-management services, online and mobile banking, and other traditional banking products.