First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $43.3333.

FMBH has been the subject of a number of recent research reports. DA Davidson raised their target price on First Mid Bancshares from $39.00 to $42.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Wall Street Zen raised First Mid Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Piper Sandler increased 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.

Insider Buying and Selling at First Mid Bancshares

In other news, CEO Clay M. Dean sold 1,553 shares of First Mid Bancshares stock in a transaction on 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 in the company, valued at approximately $422,659.56. The trade was a 12.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FMBH. PNC Financial Services Group Inc. bought a new position in shares of First Mid Bancshares in the 1st quarter valued at about $26,000. Meeder Asset Management Inc. bought a new stake in shares of First Mid Bancshares during the first quarter worth $29,000. Strs Ohio acquired a new stake in First Mid Bancshares in the first quarter valued at $42,000. Federated Hermes Inc. grew its holdings in First Mid Bancshares by 35.6% during the 1st quarter. Federated Hermes Inc. now owns 1,295 shares of the bank’s stock worth $45,000 after acquiring an additional 340 shares during the period. Finally, State of Wyoming boosted its position in shares of First Mid Bancshares by 33.4% during the 1st quarter. State of Wyoming now owns 1,410 shares of the bank’s stock worth $49,000 after purchasing an additional 353 shares in the last quarter. Institutional investors and hedge funds own 47.57% of the company’s stock.

First Mid Bancshares Stock Down 0.4%

Shares of FMBH opened at $40.04 on Thursday. First Mid Bancshares 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 $38.84 and a 200-day moving average price of $36.53. The firm has a market capitalization of $960.96 million, a P/E ratio of 11.38 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 results on Thursday, July 24th. The bank reported $0.99 EPS for the quarter, beating the consensus estimate 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 business 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 will post 3.61 earnings per share for the current year.

First Mid Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a $0.25 dividend. 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 boost from First Mid Bancshares’s previous quarterly dividend of $0.24. First Mid Bancshares’s dividend payout ratio (DPR) is presently 28.41%.

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.