First Mid Bancshares (NASDAQ:FMBH) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of First Mid Bancshares (NASDAQ:FMBH) from a hold rating to a strong-buy rating in a report released on Monday,Zacks.com reports.

A number of other equities analysts also recently weighed in on FMBH. Wall Street Zen upgraded shares of First Mid Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Weiss Ratings lowered shares of First Mid Bancshares from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Piper Sandler cut their target price on shares of First Mid Bancshares from $49.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday. Finally, 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. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.

First Mid Bancshares Trading Up 0.1%

First Mid Bancshares stock opened at $35.97 on Monday. The company has a market cap of $863.28 million, a price-to-earnings ratio of 9.85 and a beta of 0.93. The firm has a 50-day moving average of $38.05 and a 200-day moving average of $37.40. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.93 and a quick ratio of 0.93. First Mid Bancshares has a one year low of $27.58 and a one year high of $43.86.

First Mid Bancshares (NASDAQ:FMBH) last issued its quarterly earnings results on Thursday, October 30th. The bank reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm had revenue of $90.58 million during the quarter, compared to analysts’ expectations of $65.60 million. First Mid Bancshares had a return on equity of 10.45% and a net margin of 18.77%. On average, equities analysts expect that First Mid Bancshares will post 3.61 earnings per share for the current fiscal year.

First Mid Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.8%. First Mid Bancshares’s dividend payout ratio is presently 27.40%.

Institutional Trading of First Mid Bancshares

Several hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. grew its holdings in First Mid Bancshares by 12.5% in the 1st quarter. Alps Advisors Inc. now owns 10,129 shares of the bank’s stock valued at $354,000 after buying an additional 1,129 shares in the last quarter. Ballentine Partners LLC bought a new stake in shares of First Mid Bancshares in the first quarter valued at about $253,000. CWM LLC grew its stake in shares of First Mid Bancshares by 174.5% in the first quarter. CWM LLC now owns 3,791 shares of the bank’s stock valued at $132,000 after acquiring an additional 2,410 shares in the last quarter. Victory Capital Management Inc. increased its position in First Mid Bancshares by 6.5% during the first quarter. Victory Capital Management Inc. now owns 34,825 shares of the bank’s stock worth $1,215,000 after acquiring an additional 2,125 shares during the period. Finally, Bailard Inc. acquired a new stake in First Mid Bancshares in the 1st quarter worth about $667,000. 47.57% of the stock is owned by institutional investors and hedge funds.

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.