First Mid Bancshares, Inc. (FMBH) – What Are Brokerages Thinking About This Stock?

First Mid Bancshares, Inc. (NASDAQ:FMBH) has received an average rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $54.62.

A number of brokerages have recently commented on FMBH. Weiss Ratings raised shares of First Mid Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Piper Sandler raised their price target on First Mid Bancshares from $55.00 to $62.50 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods boosted their price target on First Mid Bancshares from $50.00 to $54.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Finally, DA Davidson boosted their price target on First Mid Bancshares from $47.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, July 27th.

Institutional Investors Weigh In On First Mid Bancshares

Several large investors have recently modified their holdings of FMBH. Arizona State Retirement System grew its stake in First Mid Bancshares by 8.3% in the 2nd quarter. Arizona State Retirement System now owns 6,428 shares of the bank’s stock worth $309,000 after acquiring an additional 495 shares during the period. Integrated Wealth Concepts LLC acquired a new position in First Mid Bancshares in the 2nd quarter valued at $31,000. PNC Financial Services Group Inc. raised its holdings in First Mid Bancshares by 23.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,455 shares of the bank’s stock valued at $184,000 after acquiring an additional 848 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of First Mid Bancshares during the 2nd quarter worth $62,000. Finally, SG Americas Securities LLC lifted its stake in shares of First Mid Bancshares by 17.7% during the 1st quarter. SG Americas Securities LLC now owns 9,961 shares of the bank’s stock worth $410,000 after purchasing an additional 1,500 shares during the period. Hedge funds and other institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Trading Down 0.7%

NASDAQ:FMBH opened at $48.85 on Friday. The stock’s 50 day moving average price is $50.32 and its 200 day moving average price is $47.20. The company has a market capitalization of $1.30 billion, a PE ratio of 12.12 and a beta of 0.80. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. First Mid Bancshares has a 52-week low of $34.15 and a 52-week high of $53.36.

First Mid Bancshares (NASDAQ:FMBH) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.21. The company had revenue of $109.32 million during the quarter, compared to analysts’ expectations of $107.42 million. First Mid Bancshares had a return on equity of 10.86% and a net margin of 19.76%. On average, research analysts anticipate that First Mid Bancshares will post 4.71 EPS for the current year.

First Mid Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, August 18th. This is a positive change from First Mid Bancshares’s previous quarterly dividend of $0.25. First Mid Bancshares’s payout ratio is 25.81%.

First Mid Bancshares Company Profile

First Mid Bancshares, Inc is a financial holding company headquartered in Mattoon, Illinois. Through its principal subsidiary, First Mid Bank & Trust, the company provides community banking services to individuals, families, farmers, businesses and municipalities.

Its banking services include checking and savings accounts, certificates of deposit, consumer and commercial loans, agricultural lending, mortgage services, treasury management and online banking. The company also provides wealth management, trust and investment services through First Mid Wealth Management, as well as insurance products through First Mid Insurance Group.

First Mid traces its roots to 1865 and has expanded through organic growth and acquisitions.