Valeo Financial Advisors LLC Sells 74,040 Shares of First Mid Bancshares, Inc. $FMBH

Valeo Financial Advisors LLC decreased its holdings in First Mid Bancshares, Inc. (NASDAQ:FMBH) by 85.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,252 shares of the bank’s stock after selling 74,040 shares during the quarter. Valeo Financial Advisors LLC’s holdings in First Mid Bancshares were worth $464,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in FMBH. State of Alaska Department of Revenue purchased a new position in shares of First Mid Bancshares during the third quarter valued at approximately $36,000. Strs Ohio bought a new stake in First Mid Bancshares in the 1st quarter worth approximately $42,000. Federated Hermes Inc. raised its stake in First Mid Bancshares by 32.0% during the 2nd quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock valued at $64,000 after buying an additional 415 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in First Mid Bancshares by 176.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,075 shares of the bank’s stock valued at $78,000 after buying an additional 1,324 shares during the last quarter. Finally, Quantbot Technologies LP lifted its holdings in shares of First Mid Bancshares by 113.0% during the 2nd quarter. Quantbot Technologies LP now owns 2,394 shares of the bank’s stock valued at $90,000 after buying an additional 1,270 shares during the period. Hedge funds and other institutional investors own 47.57% of the company’s stock.

Insider Activity at First Mid Bancshares

In related news, CEO Clay M. Dean sold 1,099 shares of First Mid Bancshares stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $42.69, for a total transaction of $46,916.31. Following the transaction, the chief executive officer owned 9,624 shares in the company, valued at approximately $410,848.56. The trade was a 10.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 7.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FMBH has been the subject of several research analyst reports. Zacks Research lowered First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Piper Sandler cut their price target on 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. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of First Mid Bancshares in a research note on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.80.

First Mid Bancshares Stock Performance

Shares of FMBH opened at $42.10 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.37. The business has a 50-day simple moving average of $40.46 and a two-hundred day simple moving average of $38.87. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 10.96 and a beta of 0.90. First Mid Bancshares, Inc. has a 52 week low of $27.58 and a 52 week high of $44.32.

First Mid Bancshares (NASDAQ:FMBH) last posted its quarterly earnings data on Thursday, January 29th. The bank reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. The firm 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, analysts expect that First Mid Bancshares, Inc. will post 3.61 EPS for the current year.

First Mid Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Thursday, February 12th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.4%. First Mid Bancshares’s dividend payout ratio is 27.40%.

First Mid Bancshares Profile

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.