First Mid Bancshares, Inc. $FMBH Stake Cut by Quantbot Technologies LP

Quantbot Technologies LP reduced its holdings in First Mid Bancshares, Inc. (NASDAQ:FMBH) by 48.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,124 shares of the bank’s stock after selling 1,052 shares during the period. Quantbot Technologies LP’s holdings in First Mid Bancshares were worth $39,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of FMBH. Renaissance Technologies LLC lifted its stake in First Mid Bancshares by 12.5% in the 4th quarter. Renaissance Technologies LLC now owns 17,100 shares of the bank’s stock worth $630,000 after acquiring an additional 1,900 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in First Mid Bancshares in the 4th quarter worth about $488,000. Barclays PLC lifted its stake in First Mid Bancshares by 12.6% in the 4th quarter. Barclays PLC now owns 38,678 shares of the bank’s stock worth $1,425,000 after acquiring an additional 4,331 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake 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 worth $32,813,000 after acquiring an additional 54,285 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake in First Mid Bancshares by 6.0% in the 4th quarter. MetLife Investment Management LLC now owns 13,737 shares of the bank’s stock worth $506,000 after acquiring an additional 776 shares in the last quarter. 47.57% of the stock is owned by hedge funds and other institutional investors.

First Mid Bancshares Stock Performance

Shares of FMBH stock opened at $40.44 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.93 and a quick ratio of 0.93. First Mid Bancshares, Inc. has a fifty-two week low of $27.58 and a fifty-two week high of $43.86. The stock’s 50-day moving average is $38.63 and its two-hundred day moving average is $36.48. The firm has a market cap of $970.56 million, a P/E ratio of 11.49 and a beta of 0.91.

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

First Mid Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. This is a positive change from First Mid Bancshares’s previous quarterly dividend of $0.24. First Mid Bancshares’s payout ratio is currently 28.41%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FMBH shares. Wall Street Zen raised First Mid Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Piper Sandler upped their target price on First Mid Bancshares from $47.00 to $49.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Finally, DA Davidson upped their target price on First Mid Bancshares from $39.00 to $42.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, First Mid Bancshares presently has a consensus rating of “Moderate Buy” and an average price target of $43.33.

Insider Activity at First Mid Bancshares

In other news, CEO Clay M. Dean sold 1,553 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $37.64, for a total transaction of $58,454.92. Following the transaction, the chief executive officer owned 11,229 shares of the company’s stock, valued at approximately $422,659.56. This represents a 12.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 7.70% of the company’s stock.

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.