First Mid Bancshares (NASDAQ:FMBH) Price Target Raised to $47.00 at Piper Sandler

First Mid Bancshares (NASDAQ:FMBH) had its price target boosted by Piper Sandler from $46.00 to $47.00 in a report issued on Friday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods lowered First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 price objective on the stock. in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $41.00.

First Mid Bancshares Price Performance

NASDAQ FMBH opened at $37.50 on Friday. First Mid Bancshares has a 1 year low of $28.86 and a 1 year high of $41.02. The company has a fifty day simple moving average of $38.83 and a 200 day simple moving average of $35.61. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.48. The company has a market cap of $896.63 million, a P/E ratio of 11.54 and a beta of 0.89.

First Mid Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be issued a $0.24 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.96 annualized dividend and a yield of 2.56%. First Mid Bancshares’s dividend payout ratio (DPR) is 29.54%.

Hedge Funds Weigh In On First Mid Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in First Mid Bancshares by 7.1% during the first quarter. Vanguard Group Inc. now owns 1,292,218 shares of the bank’s stock worth $42,230,000 after acquiring an additional 85,434 shares in the last quarter. American Century Companies Inc. grew its stake in First Mid Bancshares by 23.7% during the second quarter. American Century Companies Inc. now owns 340,343 shares of the bank’s stock worth $11,190,000 after buying an additional 65,314 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of First Mid Bancshares by 5.0% during the second quarter. Dimensional Fund Advisors LP now owns 778,135 shares of the bank’s stock worth $25,584,000 after buying an additional 36,769 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of First Mid Bancshares by 106.4% during the second quarter. AQR Capital Management LLC now owns 31,333 shares of the bank’s stock worth $1,030,000 after buying an additional 16,150 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of First Mid Bancshares by 29.3% in the first quarter. Russell Investments Group Ltd. now owns 67,127 shares of the bank’s stock valued at $2,194,000 after acquiring an additional 15,227 shares during the last quarter. 47.57% of the stock is owned by institutional investors.

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.