First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives $43.17 Consensus PT from Analysts

First Mid Bancshares, Inc. (NASDAQ:FMBH) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $43.1667.

Several equities research analysts have recently weighed in on FMBH shares. DA Davidson upped their price target on shares of First Mid Bancshares from $39.00 to $42.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Piper Sandler reduced their price objective 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, November 3rd. 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 upgraded First Mid Bancshares from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Finally, Wall Street Zen upgraded First Mid Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th.

First Mid Bancshares Stock Performance

Shares of First Mid Bancshares stock opened at $36.28 on Tuesday. The firm has a market cap of $870.72 million, a P/E ratio of 9.94 and a beta of 0.93. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.37. First Mid Bancshares has a 12 month low of $27.58 and a 12 month high of $43.86. The stock’s fifty day moving average price is $37.20 and its 200-day moving average price is $37.59.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings data on Thursday, October 30th. The bank reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates 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 expect that First Mid Bancshares will post 3.61 earnings per share for the current fiscal year.

First Mid Bancshares Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FMBH. PNC Financial Services Group Inc. purchased a new stake in First Mid Bancshares during the first quarter valued at approximately $26,000. Meeder Asset Management Inc. purchased a new position in First Mid Bancshares in the first quarter worth $29,000. State of Alaska Department of Revenue acquired a new position in shares of First Mid Bancshares during the third quarter worth $36,000. Strs Ohio purchased a new stake in shares of First Mid Bancshares during the 1st quarter valued at $42,000. Finally, Federated Hermes Inc. boosted its position 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 purchasing an additional 340 shares in the last quarter. Hedge funds and other institutional investors own 47.57% of the company’s stock.

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.