First Mid Bancshares, Inc. (NASDAQ:FMBH) Sees Significant Growth in Short Interest

First Mid Bancshares, Inc. (NASDAQ:FMBH) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 201,200 shares, a growth of 5.1% from the March 15th total of 191,500 shares. Based on an average daily volume of 55,800 shares, the days-to-cover ratio is currently 3.6 days.

First Mid Bancshares Stock Down 0.2 %

Shares of NASDAQ:FMBH traded down $0.06 during midday trading on Wednesday, reaching $29.22. The company’s stock had a trading volume of 25,175 shares, compared to its average volume of 54,590. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $30.75 and a 200-day moving average of $30.92. The firm has a market capitalization of $698.07 million, a P/E ratio of 9.24 and a beta of 0.87. First Mid Bancshares has a 12-month low of $21.77 and a 12-month high of $35.83.

First Mid Bancshares (NASDAQ:FMBH) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $0.94 EPS for the quarter, topping the consensus estimate of $0.83 by $0.11. First Mid Bancshares had a net margin of 17.82% and a return on equity of 10.71%. The business had revenue of $79.23 million for the quarter, compared to analyst estimates of $77.10 million. On average, research analysts anticipate that First Mid Bancshares will post 3.28 earnings per share for the current year.

First Mid Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Thursday, February 15th. First Mid Bancshares’s payout ratio is 29.02%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Raymond James increased their price target on shares of First Mid Bancshares from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Stephens reduced their target price on shares of First Mid Bancshares from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.50.

Institutional Investors Weigh In On First Mid Bancshares

Several hedge funds have recently added to or reduced their stakes in FMBH. Bank of New York Mellon Corp raised its holdings in First Mid Bancshares by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 92,671 shares of the bank’s stock worth $3,567,000 after buying an additional 3,765 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of First Mid Bancshares by 56.1% during the first quarter. MetLife Investment Management LLC now owns 9,423 shares of the bank’s stock valued at $363,000 after acquiring an additional 3,387 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in First Mid Bancshares by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 464,274 shares of the bank’s stock worth $17,870,000 after acquiring an additional 21,891 shares during the last quarter. Sei Investments Co. lifted its position in First Mid Bancshares by 14.4% in the 1st quarter. Sei Investments Co. now owns 41,461 shares of the bank’s stock valued at $1,596,000 after acquiring an additional 5,206 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in First Mid Bancshares by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 933,700 shares of the bank’s stock valued at $35,938,000 after purchasing an additional 77,601 shares during the last quarter. 47.57% of the stock is owned by institutional investors.

First Mid Bancshares Company Profile

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.