Ieq Capital LLC Invests $588,000 in First Mid Bancshares, Inc. $FMBH

Ieq Capital LLC acquired a new stake in First Mid Bancshares, Inc. (NASDAQ:FMBH) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 12,218 shares of the bank’s stock, valued at approximately $588,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Clearstead Advisors LLC raised its holdings in 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 acquiring an additional 505 shares in the last quarter. Strs Ohio bought a new position in First Mid Bancshares in the first quarter valued at approximately $42,000. Aquatic Capital Management LLC grew its stake 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 in the last quarter. Deutsche Bank AG acquired a new position in shares of First Mid Bancshares during the 2nd quarter worth approximately $59,000. Finally, Federated Hermes Inc. increased its position in shares of First Mid Bancshares by 32.0% during the 2nd quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock worth $64,000 after purchasing an additional 415 shares during the last quarter. Institutional investors and hedge funds own 47.57% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods upped their price objective on 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. Weiss Ratings restated a “buy (b)” rating on shares of First Mid Bancshares in a report on Wednesday, July 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $48.00 price target on shares of First Mid Bancshares in a research report on Friday, May 1st. DA Davidson increased their price target on shares of First Mid Bancshares from $47.00 to $54.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, Piper Sandler increased their price target on shares of First Mid Bancshares from $55.00 to $62.50 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.62.

First Mid Bancshares Price Performance

Shares of NASDAQ FMBH opened at $50.34 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. The business’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 cap of $1.34 billion, a PE ratio of 12.49 and a beta of 0.78. First Mid Bancshares, Inc. has a twelve month low of $34.15 and a twelve month high of $53.36.

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

First Mid Bancshares Increases Dividend

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

First Mid Bancshares Company Profile

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.