Deprince Race & Zollo Inc. Sells 2,747 Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH)

Deprince Race & Zollo Inc. decreased its stake in First Mid Bancshares, Inc. (NASDAQ:FMBH) by 2.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 124,295 shares of the bank’s stock after selling 2,747 shares during the quarter. Deprince Race & Zollo Inc. owned 0.52% of First Mid Bancshares worth $4,087,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FMBH. Russell Investments Group Ltd. raised its position in shares of First Mid Bancshares by 29.3% in the 1st 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 period. Vanguard Group Inc. raised its stake in First Mid Bancshares by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 1,292,218 shares of the bank’s stock worth $42,230,000 after buying an additional 85,434 shares during the period. Dimensional Fund Advisors LP lifted its holdings in First Mid Bancshares by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 678,953 shares of the bank’s stock worth $23,533,000 after acquiring an additional 34,401 shares in the last quarter. Victory Capital Management Inc. grew its stake in First Mid Bancshares by 2.2% in the second quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank’s stock valued at $998,000 after acquiring an additional 650 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of First Mid Bancshares by 21.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 176,704 shares of the bank’s stock worth $6,125,000 after acquiring an additional 31,164 shares in the last quarter. Institutional investors own 47.57% of the company’s stock.

Analysts Set New Price Targets

Separately, Hovde Group began coverage on First Mid Bancshares in a research note on Wednesday, June 26th. They set an “outperform” rating and a $35.00 target price for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.25.

First Mid Bancshares Trading Down 0.5 %

NASDAQ:FMBH opened at $37.98 on Friday. First Mid Bancshares, Inc. has a twelve month low of $25.73 and a twelve month high of $41.02. The business has a 50 day moving average price of $38.67 and a two-hundred day moving average price of $34.18. The company has a market cap of $907.57 million, a P/E ratio of 12.25 and a beta of 0.89. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.48.

First Mid Bancshares (NASDAQ:FMBH) last posted its quarterly earnings results on Thursday, August 1st. The bank reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.05. First Mid Bancshares had a net margin of 16.75% and a return on equity of 10.43%. The firm had revenue of $79.19 million for the quarter, compared to analyst estimates of $78.25 million. As a group, analysts expect that First Mid Bancshares, Inc. will post 3.47 EPS for the current fiscal year.

First Mid Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a dividend of $0.24 per share. This is an increase from First Mid Bancshares’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, August 16th. This represents a $0.96 annualized dividend and a yield of 2.53%. First Mid Bancshares’s dividend payout ratio (DPR) is currently 30.97%.

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.