First Mid Bancshares, Inc. (NASDAQ:FMBH) Given Average Rating of “Moderate Buy” by Brokerages

First Mid Bancshares, Inc. (NASDAQ:FMBH) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $54.6250.

FMBH has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Mid Bancshares in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods lifted their target price 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. DA Davidson boosted their target price 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, Piper Sandler upped their target price on First Mid Bancshares from $55.00 to $62.50 and gave the company an “overweight” rating in a report on Tuesday, July 28th.

First Mid Bancshares Price Performance

FMBH stock opened at $51.02 on Monday. The firm has a market capitalization of $1.36 billion, a PE ratio of 12.66 and a beta of 0.78. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. First Mid Bancshares has a twelve month low of $34.15 and a twelve month high of $53.36. The stock’s 50 day moving average is $50.50 and its 200-day moving average is $45.80.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $1.26 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 business had revenue of $109.32 million during the quarter, compared to analyst estimates of $107.42 million. Sell-side analysts expect that First Mid Bancshares will post 4.69 EPS for the current fiscal year.

First Mid Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were given a $0.26 dividend. This is an increase from First Mid Bancshares’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, August 18th. First Mid Bancshares’s payout ratio is presently 25.81%.

Institutional Investors Weigh In On First Mid Bancshares

Several large investors have recently made changes to their positions in FMBH. Integrated Wealth Concepts LLC bought a new stake in shares of First Mid Bancshares during the 2nd quarter worth $31,000. Clearstead Advisors LLC grew its position in First Mid Bancshares by 147.2% during the fourth quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock valued at $33,000 after buying an additional 505 shares during the period. Strs Ohio bought a new position in First Mid Bancshares during the first quarter valued at about $42,000. Quantbot Technologies LP purchased a new stake in First Mid Bancshares during the second quarter worth about $62,000. Finally, Aquatic Capital Management LLC increased 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 worth $54,000 after buying an additional 1,052 shares during the last quarter. 47.57% of the stock is owned by hedge funds and other institutional investors.

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.