James Edwin Zimmer Acquires 1,000 Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) Stock

First Mid Bancshares, Inc. (NASDAQ:FMBH) Director James Edwin Zimmer bought 1,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average price of $39.87 per share, for a total transaction of $39,870.00. Following the completion of the acquisition, the director now owns 4,050 shares of the company’s stock, valued at $161,473.50. The trade was a 32.79 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

First Mid Bancshares Stock Up 3.5 %

Shares of FMBH opened at $36.23 on Wednesday. The firm has a market cap of $866.33 million, a P/E ratio of 11.15 and a beta of 0.93. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 0.91. First Mid Bancshares, Inc. has a 52 week low of $28.86 and a 52 week high of $43.86. The firm’s 50-day simple moving average is $39.77 and its 200 day simple moving average is $38.51.

First Mid Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend was Thursday, November 14th. First Mid Bancshares’s payout ratio is 29.54%.

Hedge Funds Weigh In On First Mid Bancshares

A number of large investors have recently made changes to their positions in FMBH. JPMorgan Chase & Co. boosted its stake in First Mid Bancshares by 24.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 133,132 shares of the bank’s stock valued at $5,180,000 after purchasing an additional 25,855 shares during the period. Franklin Resources Inc. acquired a new stake in shares of First Mid Bancshares during the third quarter worth $566,000. Barclays PLC boosted its position in shares of First Mid Bancshares by 327.6% in the third quarter. Barclays PLC now owns 34,347 shares of the bank’s stock valued at $1,337,000 after acquiring an additional 26,315 shares during the period. Wellington Management Group LLP grew its stake in shares of First Mid Bancshares by 7.3% in the third quarter. Wellington Management Group LLP now owns 387,926 shares of the bank’s stock valued at $15,094,000 after acquiring an additional 26,560 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in First Mid Bancshares by 1.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 88,910 shares of the bank’s stock worth $3,459,000 after acquiring an additional 900 shares during the period. Institutional investors own 47.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. DA Davidson lowered shares of First Mid Bancshares from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $44.00 to $47.00 in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods boosted their price target on First Mid Bancshares from $42.00 to $45.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Stephens lowered First Mid Bancshares from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Finally, Piper Sandler lifted their target price on First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

First Mid Bancshares Company Profile

First Mid Bancshares, Inc, a financial holding company, provides community banking products and services to commercial, retail, and agricultural customers in the United States. It accepts various deposit products, such as demand deposits, savings accounts, money market deposits, and time deposits. The company’s loan products include commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans, as well as construction and land development, 1-4 family residential properties, and multifamily residential properties loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.