First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives $43.60 Average PT from Brokerages

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $43.60.

FMBH has been the subject of several analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Mid Bancshares in a research report on Monday, December 29th. Zacks Research downgraded First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. DA Davidson raised their price objective on First Mid Bancshares from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd. Finally, Piper Sandler decreased their price objective on First Mid Bancshares from $49.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, November 3rd.

Insider Transactions at First Mid Bancshares

In related news, EVP Bradley L. Beesley sold 6,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $44.00, for a total value of $264,000.00. Following the transaction, the executive vice president owned 12,378 shares in the company, valued at approximately $544,632. This trade represents a 32.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Clay M. Dean sold 1,099 shares of the stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $42.69, for a total value of $46,916.31. Following the completion of the transaction, the chief executive officer owned 9,624 shares of the company’s stock, valued at $410,848.56. This represents a 10.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On First Mid Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Clearstead Advisors LLC boosted its holdings in shares of 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 purchasing an additional 505 shares during the period. State of Alaska Department of Revenue bought a new position in shares of First Mid Bancshares in the third quarter worth about $36,000. Strs Ohio purchased a new stake in shares of First Mid Bancshares during the first quarter worth about $42,000. Aquatic Capital Management LLC increased its stake in First Mid Bancshares by 272.5% in the 3rd quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank’s stock worth $54,000 after acquiring an additional 1,052 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of First Mid Bancshares by 32.0% in the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock valued at $64,000 after acquiring an additional 415 shares during the period. Hedge funds and other institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Price Performance

Shares of First Mid Bancshares stock opened at $41.01 on Thursday. The company has a market capitalization of $984.24 million, a price-to-earnings ratio of 10.68 and a beta of 0.91. First Mid Bancshares has a 52 week low of $27.58 and a 52 week high of $44.85. The stock’s 50-day simple moving average is $41.70 and its 200-day simple moving average is $39.57. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.37.

First Mid Bancshares (NASDAQ:FMBH) last issued its earnings results on Thursday, January 29th. The bank reported $1.06 earnings per share for the quarter, hitting the consensus estimate of $1.06. First Mid Bancshares had a return on equity of 10.61% and a net margin of 19.69%.The business had revenue of $90.14 million during the quarter, compared to analysts’ expectations of $67.86 million. As a group, analysts expect that First Mid Bancshares will post 3.61 earnings per share for the current fiscal year.

First Mid Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Thursday, February 12th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. First Mid Bancshares’s payout ratio is currently 26.04%.

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.