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

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have been given a consensus recommendation of “Moderate Buy” by the seven research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $43.3333.

A number of analysts have weighed in on FMBH shares. DA Davidson boosted their price target on First Mid Bancshares from $39.00 to $42.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Weiss Ratings restated a “buy (b-)” rating on shares of First Mid Bancshares in a research report on Saturday, September 27th. Piper Sandler boosted their target price on shares of First Mid Bancshares from $47.00 to $49.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Finally, Wall Street Zen upgraded shares of First Mid Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, July 26th.

Insider Buying and Selling

In related news, CEO Clay M. Dean sold 1,553 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $37.64, for a total transaction of $58,454.92. Following the completion of the transaction, the chief executive officer owned 11,229 shares in the company, valued at approximately $422,659.56. This represents a 12.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.20% of the company’s stock.

Institutional Trading of First Mid Bancshares

A number of institutional investors have recently bought and sold shares of FMBH. PNC Financial Services Group Inc. purchased a new stake in First Mid Bancshares in the 1st quarter worth $26,000. Meeder Asset Management Inc. purchased a new position in First Mid Bancshares in the first quarter worth $29,000. Strs Ohio acquired a new stake in shares of First Mid Bancshares during the first quarter valued at $42,000. Federated Hermes Inc. boosted its stake in First Mid Bancshares by 35.6% in the 1st quarter. Federated Hermes Inc. now owns 1,295 shares of the bank’s stock worth $45,000 after buying an additional 340 shares during the last quarter. Finally, State of Wyoming boosted its holdings in First Mid Bancshares by 33.4% in the 1st quarter. State of Wyoming now owns 1,410 shares of the bank’s stock worth $49,000 after acquiring an additional 353 shares during the period. 47.57% of the stock is currently owned by institutional investors and hedge funds.

First Mid Bancshares Trading Up 0.9%

First Mid Bancshares stock opened at $37.48 on Monday. The stock’s 50 day simple moving average is $38.93 and its two-hundred day simple moving average is $36.88. First Mid Bancshares has a 12 month low of $27.58 and a 12 month high of $43.86. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.39. The firm has a market cap of $899.52 million, a PE ratio of 10.65 and a beta of 0.89.

First Mid Bancshares (NASDAQ:FMBH) last issued its earnings results on Thursday, July 24th. The bank reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.08. First Mid Bancshares had a return on equity of 10.09% and a net margin of 18.32%.The business had revenue of $88.23 million for the quarter, compared to analyst estimates of $64.42 million. Analysts anticipate that First Mid Bancshares will post 3.61 earnings per share for the current year.

First Mid Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a dividend of $0.25 per share. This is an increase from First Mid Bancshares’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 2.7%. First Mid Bancshares’s dividend payout ratio is 28.41%.

About First Mid Bancshares

First Mid Bancshares, Inc, a financial holding company, provides community banking products and services to commercial, retail, and agricultural customers in the United States. It accepts various deposit products, such as demand deposits, savings accounts, money market deposits, and time deposits. The company’s loan products include commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans, as well as construction and land development, 1-4 family residential properties, and multifamily residential properties loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.