First Mid Bancshares, Inc. (NASDAQ:FMBH) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $43.60.

FMBH has been the topic of a number of recent research reports. Piper Sandler dropped their price target on shares of First Mid Bancshares from $49.00 to $48.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd. Zacks Research downgraded First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of First Mid Bancshares in a research report on Monday, December 29th. Finally, DA Davidson boosted 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.

First Mid Bancshares Stock Down 0.6%

Shares of NASDAQ FMBH opened at $44.00 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $1.06 billion, a PE ratio of 11.46 and a beta of 0.91. First Mid Bancshares has a one year low of $27.58 and a one year high of $44.85. The business’s fifty day moving average price is $40.92 and its 200-day moving average price is $39.01.

First Mid Bancshares (NASDAQ:FMBH) last announced its quarterly earnings data on Thursday, January 29th. The bank reported $1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.06. The business had revenue of $90.14 million for the quarter, compared to analysts’ expectations of $67.86 million. First Mid Bancshares had a return on equity of 10.61% and a net margin of 19.69%. On average, equities research analysts anticipate that First Mid Bancshares will post 3.61 EPS for the current year.

First Mid Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Thursday, February 12th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, February 12th. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. First Mid Bancshares’s dividend payout ratio is currently 26.04%.

Insider Buying and Selling

In other news, CEO Clay M. Dean sold 1,099 shares of the firm’s stock in a transaction that occurred on 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 directly owned 9,624 shares in the company, valued at approximately $410,848.56. This trade represents a 10.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bradley L. Beesley sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $44.00, for a total transaction of $264,000.00. Following the completion of the sale, the executive vice president owned 12,378 shares in the company, valued at $544,632. This represents a 32.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 7.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Mid Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FMBH. Abacus Wealth Partners LLC bought a new position in First Mid Bancshares in the 4th quarter worth about $342,000. Strs Ohio increased its position in shares of First Mid Bancshares by 8.8% in the fourth quarter. Strs Ohio now owns 9,900 shares of the bank’s stock worth $386,000 after purchasing an additional 800 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in First Mid Bancshares by 25.8% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 10,078 shares of the bank’s stock valued at $393,000 after purchasing an additional 2,070 shares in the last quarter. Busey Bank bought a new stake in First Mid Bancshares during the fourth quarter valued at approximately $246,000. Finally, CWM LLC grew its stake in First Mid Bancshares by 5.8% in the 4th quarter. CWM LLC now owns 6,283 shares of the bank’s stock worth $245,000 after buying an additional 343 shares in the last quarter. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

About First Mid Bancshares

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.