Analysts Set First Mid Bancshares, Inc. (NASDAQ:FMBH) PT at $42.50

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $42.50.

Several brokerages have issued reports on FMBH. Keefe, Bruyette & Woods lifted their target price on shares of First Mid Bancshares from $42.00 to $45.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Stephens downgraded shares of First Mid Bancshares from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th. Piper Sandler increased their target price on First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, DA Davidson lowered First Mid Bancshares from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $44.00 to $47.00 in a research note on Tuesday, November 12th.

Hedge Funds Weigh In On First Mid Bancshares

A number of large investors have recently bought and sold shares of the stock. Franklin Resources Inc. purchased a new position in shares of First Mid Bancshares in the third quarter worth $566,000. Barclays PLC increased 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. SG Americas Securities LLC raised its stake in shares of First Mid Bancshares by 44.6% during the third quarter. SG Americas Securities LLC now owns 12,006 shares of the bank’s stock valued at $467,000 after acquiring an additional 3,703 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of First Mid Bancshares by 2.2% during the second quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank’s stock worth $998,000 after purchasing an additional 650 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of First Mid Bancshares by 106.4% in the second quarter. AQR Capital Management LLC now owns 31,333 shares of the bank’s stock worth $1,030,000 after purchasing an additional 16,150 shares during the last quarter. 47.57% of the stock is owned by hedge funds and other institutional investors.

First Mid Bancshares Stock Performance

NASDAQ:FMBH opened at $35.59 on Wednesday. The stock has a market cap of $851.03 million, a P/E ratio of 10.95 and a beta of 0.93. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.41. The business’s 50-day moving average price is $40.01 and its two-hundred day moving average price is $38.40. First Mid Bancshares has a twelve month low of $28.86 and a twelve month high of $43.86.

First Mid Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend was Thursday, November 14th. First Mid Bancshares’s dividend payout ratio (DPR) is presently 29.54%.

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.