Empowered Funds LLC Acquires New Position in First Mid Bancshares, Inc. $FMBH

Empowered Funds LLC acquired a new stake in First Mid Bancshares, Inc. (NASDAQ:FMBH) in the second quarter, HoldingsChannel.com reports. The fund acquired 114,413 shares of the bank’s stock, valued at approximately $5,502,000.

A number of other institutional investors have also bought and sold shares of FMBH. BlackRock Inc. acquired a new position in shares of First Mid Bancshares during the 2nd quarter worth approximately $630,909,000. Bank of New York Mellon Corp purchased a new position in First Mid Bancshares during the second quarter worth approximately $39,888,000. Bank of America Corp DE acquired a new position in First Mid Bancshares during the second quarter worth $25,064,000. The Manufacturers Life Insurance Company purchased a new stake in First Mid Bancshares in the 2nd quarter valued at $9,906,000. Finally, Legal & General Group Plc acquired a new stake in shares of First Mid Bancshares in the 2nd quarter worth $6,365,000. 47.57% of the stock is owned by hedge funds and other institutional investors.

First Mid Bancshares Stock Performance

Shares of FMBH stock opened at $50.34 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $1.34 billion, a PE ratio of 12.49 and a beta of 0.78. The company has a 50-day moving average of $49.93 and a two-hundred day moving average of $45.28. First Mid Bancshares, Inc. has a 1-year low of $34.15 and a 1-year high of $53.36.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.21. First Mid Bancshares had a net margin of 19.76% and a return on equity of 10.86%. The business had revenue of $109.32 million for the quarter, compared to the consensus estimate of $107.42 million. On average, analysts predict that First Mid Bancshares, Inc. will post 4.69 EPS for the current year.

First Mid Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a $0.26 dividend. This is a boost from First Mid Bancshares’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, August 18th. This represents a $1.04 annualized dividend and a yield of 2.1%. First Mid Bancshares’s payout ratio is 25.81%.

Analysts Set New Price Targets

Several research analysts have recently commented on FMBH shares. Keefe, Bruyette & Woods lifted their price target on First Mid Bancshares from $50.00 to $54.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. DA Davidson raised their price objective on shares of First Mid Bancshares from $47.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Piper Sandler lifted their target price on shares of First Mid Bancshares from $55.00 to $62.50 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of First Mid Bancshares in a report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, First Mid Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $54.62.

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.