Vanguard Group Inc. Reduces Stock Position in First Mid Bancshares, Inc. $FMBH

Vanguard Group Inc. lowered its position in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) by 1.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,294,245 shares of the bank’s stock after selling 14,995 shares during the period. Vanguard Group Inc. owned about 5.40% of First Mid Bancshares worth $45,169,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FMBH. Dimensional Fund Advisors LP lifted its position in shares of First Mid Bancshares by 6.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 891,154 shares of the bank’s stock worth $32,813,000 after purchasing an additional 54,285 shares during the period. Tudor Investment Corp ET AL bought a new stake in First Mid Bancshares during the 4th quarter valued at about $1,518,000. Bailard Inc. bought a new stake in First Mid Bancshares during the 1st quarter valued at about $667,000. Wellington Management Group LLP increased its stake in First Mid Bancshares by 3.8% during the 4th quarter. Wellington Management Group LLP now owns 402,826 shares of the bank’s stock valued at $14,832,000 after purchasing an additional 14,900 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of First Mid Bancshares during the 4th quarter valued at about $488,000. 47.57% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Mid Bancshares

In other news, CEO Clay M. Dean sold 1,553 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $37.64, for a total value of $58,454.92. Following the sale, the chief executive officer directly owned 11,229 shares in the company, valued at approximately $422,659.56. This trade represents a 12.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FMBH. Stephens reaffirmed a “positive” rating on shares of First Mid Bancshares in a report on Friday, May 2nd. Raymond James Financial reaffirmed an “outperform” rating and set a $40.00 price target (down previously from $43.00) on shares of First Mid Bancshares in a report on Friday, May 2nd. DA Davidson lifted their price target on shares of First Mid Bancshares from $39.00 to $42.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Piper Sandler lifted their price objective on shares of First Mid Bancshares from $47.00 to $49.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Finally, Wall Street Zen upgraded shares of First Mid Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.33.

First Mid Bancshares Stock Down 0.8%

Shares of FMBH opened at $39.82 on Tuesday. First Mid Bancshares, Inc. has a 12-month low of $27.58 and a 12-month high of $43.86. The firm has a fifty day moving average price of $38.21 and a 200-day moving average price of $36.42. The firm has a market capitalization of $955.68 million, a P/E ratio of 11.31 and a beta of 0.91. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.39.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings data on Thursday, July 24th. The bank reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.08. First Mid Bancshares had a net margin of 18.32% and a return on equity of 10.09%. The company had revenue of $88.23 million during the quarter, compared to analyst estimates of $64.42 million. Equities research analysts expect that First Mid Bancshares, Inc. will post 3.61 earnings per share for the current year.

First Mid Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.5%. This is a boost from First Mid Bancshares’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, August 15th. First Mid Bancshares’s payout ratio is currently 28.41%.

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.