Brokerages Set First Mid Bancshares, Inc. (NASDAQ:FMBH) Target Price at $42.80

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have received a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $42.80.

Several research analysts recently issued reports on FMBH shares. Piper Sandler lowered their target price on First Mid Bancshares from $49.00 to $48.00 and set an “overweight” rating for the company in a research report on Monday, November 3rd. Zacks Research downgraded First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Mid Bancshares in a research note on Monday, December 29th.

Insider Activity at First Mid Bancshares

In other news, CEO Clay M. Dean sold 1,099 shares of the stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $42.69, for a total transaction of $46,916.31. Following the completion of the sale, the chief executive officer directly owned 9,624 shares in the company, valued at $410,848.56. This represents a 10.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 7.70% of the company’s stock.

Institutional Trading of First Mid Bancshares

Hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue bought a new position in First Mid Bancshares during the third quarter worth $36,000. Strs Ohio bought a new stake in First Mid Bancshares in the first quarter valued at $42,000. State of Wyoming raised its holdings in shares of First Mid Bancshares by 33.4% during the first quarter. State of Wyoming now owns 1,410 shares of the bank’s stock valued at $49,000 after purchasing an additional 353 shares during the period. Aquatic Capital Management LLC boosted its position in shares of First Mid Bancshares by 272.5% during the 3rd quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank’s stock worth $54,000 after purchasing an additional 1,052 shares in the last quarter. Finally, Federated Hermes Inc. boosted 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 in the last quarter. Institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Trading Down 1.2%

FMBH opened at $39.62 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.93 and a quick ratio of 0.93. First Mid Bancshares has a fifty-two week low of $27.58 and a fifty-two week high of $42.85. The company’s 50 day moving average price is $38.98 and its two-hundred day moving average price is $38.56. The firm has a market capitalization of $950.88 million, a price-to-earnings ratio of 10.85 and a beta of 0.90.

First Mid Bancshares (NASDAQ:FMBH) last issued its quarterly earnings results on Thursday, October 30th. The bank reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. First Mid Bancshares had a net margin of 18.77% and a return on equity of 10.27%. The company had revenue of $89.27 million for the quarter, compared to analyst estimates of $65.60 million. As a group, research analysts predict that First Mid Bancshares will post 3.61 earnings per share for the current year.

First Mid Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were given a $0.25 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. First Mid Bancshares’s payout ratio is 27.40%.

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.