First Mid Bancshares, Inc. $FMBH Shares Acquired by State of Wyoming

State of Wyoming lifted its stake in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) by 33.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,410 shares of the bank’s stock after acquiring an additional 353 shares during the quarter. State of Wyoming’s holdings in First Mid Bancshares were worth $49,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Trexquant Investment LP acquired a new position in shares of First Mid Bancshares during the first quarter valued at approximately $376,000. Ieq Capital LLC bought a new position in shares of First Mid Bancshares during the 1st quarter valued at about $203,000. Martingale Asset Management L P boosted its position in shares of First Mid Bancshares by 17.6% during the 1st quarter. Martingale Asset Management L P now owns 47,769 shares of the bank’s stock valued at $1,667,000 after purchasing an additional 7,154 shares in the last quarter. American Century Companies Inc. boosted its position in shares of First Mid Bancshares by 10.2% during the 1st quarter. American Century Companies Inc. now owns 496,888 shares of the bank’s stock valued at $17,341,000 after purchasing an additional 45,831 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of First Mid Bancshares by 7.4% during the 1st quarter. Russell Investments Group Ltd. now owns 83,712 shares of the bank’s stock valued at $2,922,000 after purchasing an additional 5,756 shares in the last quarter. Institutional investors and hedge funds own 47.57% of the company’s stock.

First Mid Bancshares Trading Down 2.0%

First Mid Bancshares stock opened at $39.78 on Wednesday. The company has a 50 day moving average price of $39.03 and a 200 day moving average price of $36.57. First Mid Bancshares, Inc. has a 52 week low of $27.58 and a 52 week high of $43.86. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $954.72 million, a price-to-earnings ratio of 11.30 and a beta of 0.91.

First Mid Bancshares (NASDAQ:FMBH) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $0.99 EPS 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 firm had revenue of $88.23 million during the quarter, compared to analyst estimates of $64.42 million. Research analysts forecast that First Mid Bancshares, Inc. will post 3.61 EPS for the current year.

First Mid Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a $0.25 dividend. 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. The ex-dividend date of this dividend was Friday, August 15th. First Mid Bancshares’s payout ratio is currently 28.41%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. 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. Piper Sandler raised 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, DA Davidson raised their price objective on shares of First Mid Bancshares from $39.00 to $42.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.33.

Insider Activity

In other news, CEO Clay M. Dean sold 1,553 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $37.64, for a total value of $58,454.92. Following the completion of the sale, the chief executive officer directly owned 11,229 shares of the company’s stock, valued at $422,659.56. This represents a 12.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.20% of the stock is owned by company insiders.

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.