Vanguard Group Inc. Acquires 58,456 Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH)

Vanguard Group Inc. raised its stake in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) by 6.0% during the 3rd quarter, Holdings Channel reports. The fund owned 1,040,575 shares of the bank’s stock after purchasing an additional 58,456 shares during the period. Vanguard Group Inc.’s holdings in First Mid Bancshares were worth $27,638,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FMBH. Qube Research & Technologies Ltd purchased a new position in shares of First Mid Bancshares in the 3rd quarter worth approximately $31,000. Lazard Asset Management LLC acquired a new stake in First Mid Bancshares in the second quarter valued at approximately $29,000. FMR LLC grew its holdings in First Mid Bancshares by 131.4% in the first quarter. FMR LLC now owns 1,259 shares of the bank’s stock worth $34,000 after purchasing an additional 715 shares during the last quarter. US Bancorp DE grew its holdings in First Mid Bancshares by 310.0% in the second quarter. US Bancorp DE now owns 1,435 shares of the bank’s stock worth $35,000 after purchasing an additional 1,085 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of First Mid Bancshares by 91.7% during the second quarter. Royal Bank of Canada now owns 1,999 shares of the bank’s stock worth $48,000 after purchasing an additional 956 shares in the last quarter. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FMBH. Stephens dropped their target price on First Mid Bancshares from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 30th. Raymond James boosted their price target on First Mid Bancshares from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.50.

First Mid Bancshares Price Performance

NASDAQ FMBH opened at $29.64 on Friday. The company has a market cap of $708.10 million, a price-to-earnings ratio of 9.35 and a beta of 0.87. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.91 and a quick ratio of 0.91. The stock’s fifty day moving average price is $30.81 and its 200 day moving average price is $30.81. First Mid Bancshares, Inc. has a 1 year low of $21.77 and a 1 year high of $35.83.

First Mid Bancshares (NASDAQ:FMBH) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.11. First Mid Bancshares had a return on equity of 10.71% and a net margin of 17.82%. The business had revenue of $79.23 million for the quarter, compared to the consensus estimate of $77.10 million. As a group, equities research analysts forecast that First Mid Bancshares, Inc. will post 3.28 earnings per share for the current year.

First Mid Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were issued a $0.23 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.92 annualized dividend and a yield of 3.10%. First Mid Bancshares’s dividend payout ratio (DPR) is presently 29.02%.

First Mid Bancshares 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.