First Mid Bancshares (NASDAQ:FMBH) PT Lowered to $38.00

First Mid Bancshares (NASDAQ:FMBH) had its price target decreased by Piper Sandler from $39.00 to $38.00 in a research note issued to investors on Monday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the bank’s stock.

Several other brokerages have also recently commented on FMBH. Raymond James raised their price objective on shares of First Mid Bancshares from $34.00 to $38.00 and gave the company an outperform rating in a research note on Monday, January 29th. Stephens reduced their price objective on shares of First Mid Bancshares from $40.00 to $38.00 and set an overweight rating for the company in a research note on Tuesday, January 30th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $37.00.

First Mid Bancshares Stock Down 0.2 %

FMBH stock opened at $31.45 on Monday. First Mid Bancshares has a one year low of $21.77 and a one year high of $35.83. The stock has a market capitalization of $751.34 million, a PE ratio of 10.15 and a beta of 0.87. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 0.91. The company has a fifty day moving average of $30.75 and a 200-day moving average of $31.18.

First Mid Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Tuesday, May 14th. First Mid Bancshares’s dividend payout ratio (DPR) is 29.68%.

Hedge Funds Weigh In On First Mid Bancshares

Several hedge funds have recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC purchased a new position in First Mid Bancshares during the 4th quarter valued at about $25,000. Wellington Management Group LLP increased its holdings in First Mid Bancshares by 5.9% during the 4th quarter. Wellington Management Group LLP now owns 294,666 shares of the bank’s stock valued at $10,213,000 after acquiring an additional 16,388 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in First Mid Bancshares by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 678,953 shares of the bank’s stock valued at $23,533,000 after acquiring an additional 34,401 shares in the last quarter. Jump Financial LLC purchased a new position in First Mid Bancshares during the 4th quarter valued at about $252,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in First Mid Bancshares by 21.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 176,704 shares of the bank’s stock valued at $6,125,000 after acquiring an additional 31,164 shares in the last quarter. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

About First Mid Bancshares

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.