First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have been assigned an average rating of “Moderate Buy” from the six ratings firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $43.75.

Several equities research analysts have recently commented on the stock. DA Davidson boosted their price target on shares of First Mid Bancshares from $45.00 to $46.00 and gave the company a “neutral” rating in a report on Monday, February 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of First Mid Bancshares in a report on Monday, December 29th. Finally, Zacks Research downgraded shares of First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th.

First Mid Bancshares Price Performance

Shares of FMBH stock opened at $40.12 on Monday. First Mid Bancshares has a twelve month low of $27.58 and a twelve month high of $44.85. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $41.82 and a two-hundred day simple moving average of $39.65. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 10.45 and a beta of 0.90.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings data on Thursday, January 29th. The bank reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. First Mid Bancshares had a return on equity of 10.44% and a net margin of 19.69%.The firm had revenue of $90.14 million during the quarter, compared to the consensus estimate of $67.86 million. On average, analysts predict that First Mid Bancshares will post 3.61 EPS for the current fiscal year.

First Mid Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Thursday, February 12th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, February 12th. First Mid Bancshares’s payout ratio is presently 26.04%.

Insider Activity at First Mid Bancshares

In related news, EVP Bradley L. Beesley sold 6,000 shares of the company’s stock in a transaction 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 directly owned 12,378 shares in the company, valued at $544,632. This represents a 32.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On First Mid Bancshares

A number of large investors have recently added to or reduced their stakes in the company. Clearstead Advisors LLC lifted its position in shares of First Mid Bancshares by 147.2% during the fourth quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock valued at $33,000 after buying an additional 505 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of First Mid Bancshares in the 3rd quarter worth approximately $36,000. Strs Ohio purchased a new position in shares of First Mid Bancshares in the 1st quarter worth approximately $42,000. Aquatic Capital Management LLC raised its stake in shares of First Mid Bancshares by 272.5% during the 3rd quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank’s stock worth $54,000 after acquiring an additional 1,052 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in First Mid Bancshares by 32.0% during the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock valued at $64,000 after acquiring an additional 415 shares during the last quarter. 47.57% of the stock is currently owned by 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.