Intech Investment Management LLC Reduces Stock Position in First Mid Bancshares, Inc. $FMBH

Intech Investment Management LLC cut its stake in First Mid Bancshares, Inc. (NASDAQ:FMBH) by 16.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,834 shares of the bank’s stock after selling 2,397 shares during the quarter. Intech Investment Management LLC’s holdings in First Mid Bancshares were worth $444,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FMBH. PNC Financial Services Group Inc. bought a new stake in First Mid Bancshares in the 1st quarter worth approximately $26,000. Strs Ohio purchased a new position in shares of First Mid Bancshares in the 1st quarter worth $42,000. Federated Hermes Inc. boosted its stake in shares of 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. State of Wyoming grew its holdings in shares of First Mid Bancshares by 33.4% in the first 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. Finally, Jones Financial Companies Lllp increased its position in First Mid Bancshares by 1,662.9% during the first quarter. Jones Financial Companies Lllp now owns 4,231 shares of the bank’s stock valued at $148,000 after acquiring an additional 3,991 shares during the last quarter. Institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Stock Down 0.4%

FMBH stock opened at $38.06 on Friday. The business’s 50-day moving average price is $37.03 and its 200-day moving average price is $37.67. The stock has a market cap of $913.44 million, a P/E ratio of 10.43 and a beta of 0.93. 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, Inc. has a twelve month low of $27.58 and a twelve month high of $42.72.

First Mid Bancshares (NASDAQ:FMBH) last released its earnings results on Thursday, October 30th. The bank reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $65.60 million. On average, equities research analysts forecast that First Mid Bancshares, Inc. will post 3.61 EPS for the current year.

First Mid Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.6%. First Mid Bancshares’s payout ratio is 27.40%.

Analysts Set New Price Targets

Several brokerages have issued reports on FMBH. Weiss Ratings cut First Mid Bancshares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Zacks Research raised shares of First Mid Bancshares from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Finally, Piper Sandler reduced 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 report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, First Mid Bancshares presently has an average rating of “Moderate Buy” and an average target price of $43.17.

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.