Rhumbline Advisers Decreases Stock Position in First Mid Bancshares, Inc. (NASDAQ:FMBH)

Rhumbline Advisers decreased its position in First Mid Bancshares, Inc. (NASDAQ:FMBH) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,367 shares of the bank’s stock after selling 1,473 shares during the quarter. Rhumbline Advisers owned 0.13% of First Mid Bancshares worth $1,095,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of First Mid Bancshares by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 1,309,240 shares of the bank’s stock valued at $48,206,000 after purchasing an additional 31,231 shares during the period. Dimensional Fund Advisors LP boosted its position in First Mid Bancshares by 6.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 891,154 shares of the bank’s stock valued at $32,813,000 after buying an additional 54,285 shares during the last quarter. American Century Companies Inc. boosted its position in First Mid Bancshares by 11.3% in the 4th quarter. American Century Companies Inc. now owns 451,057 shares of the bank’s stock valued at $16,608,000 after buying an additional 45,788 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of First Mid Bancshares by 3.8% during the fourth quarter. Wellington Management Group LLP now owns 402,826 shares of the bank’s stock valued at $14,832,000 after acquiring an additional 14,900 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of First Mid Bancshares by 5.2% during the fourth quarter. Northern Trust Corp now owns 221,975 shares of the bank’s stock worth $8,173,000 after acquiring an additional 10,925 shares during the last quarter. Hedge funds and other institutional investors own 47.57% of the company’s stock.

Analyst Ratings Changes

FMBH has been the subject of a number of recent analyst reports. Hovde Group lowered their price objective on First Mid Bancshares from $48.00 to $43.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. Stephens reissued a “positive” rating on shares of First Mid Bancshares in a research report on Friday, May 2nd. Finally, Raymond James Financial restated an “outperform” rating and issued a $40.00 price target (down previously from $43.00) on shares of First Mid Bancshares in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, First Mid Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $43.83.

First Mid Bancshares Stock Up 1.0%

Shares of First Mid Bancshares stock opened at $35.29 on Friday. The business has a 50-day moving average price of $35.08 and a 200 day moving average price of $36.34. First Mid Bancshares, Inc. has a fifty-two week low of $27.58 and a fifty-two week high of $43.86. The firm has a market cap of $846.61 million, a P/E ratio of 10.50 and a beta of 0.87. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.25.

First Mid Bancshares (NASDAQ:FMBH) last issued its earnings results on Wednesday, April 30th. The bank reported $0.96 EPS for the quarter, topping the consensus estimate of $0.94 by $0.02. The company had revenue of $85.21 million during the quarter, compared to analyst estimates of $58.29 million. First Mid Bancshares had a return on equity of 9.90% and a net margin of 17.75%. On average, sell-side analysts forecast that First Mid Bancshares, Inc. will post 3.61 earnings per share for the current fiscal year.

First Mid Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.96 annualized dividend and a yield of 2.72%. First Mid Bancshares’s payout ratio is 28.57%.

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.