Prudential Financial Inc. Boosts Stake in First Mid Bancshares, Inc. (NASDAQ:FMBH)

Prudential Financial Inc. increased its position in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) by 27.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,172 shares of the bank’s stock after buying an additional 2,200 shares during the quarter. Prudential Financial Inc.’s holdings in First Mid Bancshares were worth $375,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in First Mid Bancshares by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 1,309,240 shares of the bank’s stock worth $48,206,000 after purchasing an additional 31,231 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of First Mid Bancshares during the fourth quarter worth about $155,000. American Century Companies Inc. grew its holdings in shares of First Mid Bancshares by 11.3% during the fourth quarter. American Century Companies Inc. now owns 451,057 shares of the bank’s stock worth $16,608,000 after buying an additional 45,788 shares during the last quarter. Teacher Retirement System of Texas raised its stake in First Mid Bancshares by 96.7% during the 4th quarter. Teacher Retirement System of Texas now owns 31,898 shares of the bank’s stock valued at $1,174,000 after acquiring an additional 15,679 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in First Mid Bancshares during the 4th quarter valued at approximately $344,000. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Stephens reiterated an “equal weight” rating and issued a $43.00 target price on shares of First Mid Bancshares in a research note on Friday, January 24th. Hovde Group lowered their price objective on shares of First Mid Bancshares from $48.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, March 14th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $45.00.

First Mid Bancshares Stock Up 6.1 %

FMBH opened at $32.89 on Thursday. The business has a 50 day simple moving average of $36.18 and a 200-day simple moving average of $37.99. First Mid Bancshares, Inc. has a 12 month low of $27.58 and a 12 month high of $43.86. The stock has a market capitalization of $788.77 million, a P/E ratio of 10.00 and a beta of 0.85. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.91 and a quick ratio of 0.91.

First Mid Bancshares (NASDAQ:FMBH) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. First Mid Bancshares had a net margin of 17.39% and a return on equity of 10.10%. On average, equities analysts anticipate that First Mid Bancshares, Inc. will post 3.61 earnings per share for the current fiscal year.

First Mid Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Thursday, February 13th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, February 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.92%. First Mid Bancshares’s payout ratio is 29.18%.

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.