First Mid Bancshares (NASDAQ:FMBH) Cut to “Hold (C+)” at Weiss Ratings

Weiss Ratings downgraded shares of First Mid Bancshares (NASDAQ:FMBH) from a buy (b-) rating to a hold (c+) rating in a report published on Saturday,Weiss Ratings reports.

FMBH has been the topic of several other reports. DA Davidson raised their price target on First Mid Bancshares from $39.00 to $42.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Wall Street Zen raised First Mid Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Piper Sandler raised their price target on First Mid Bancshares from $47.00 to $49.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.33.

First Mid Bancshares Trading Down 1.8%

Shares of NASDAQ:FMBH opened at $36.70 on Friday. The company has a market cap of $880.69 million, a P/E ratio of 10.43 and a beta of 0.89. The stock’s 50-day moving average is $38.43 and its 200-day moving average is $37.18. First Mid Bancshares 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.

Insiders Place Their Bets

In related news, CEO Clay M. Dean sold 1,553 shares of First Mid Bancshares 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 sale, the chief executive officer directly owned 11,229 shares of the company’s stock, valued at $422,659.56. This trade represents a 12.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Mid Bancshares

Institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in First Mid Bancshares by 10.2% during the first 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. Bridgeway Capital Management LLC boosted its holdings in First Mid Bancshares by 16.2% during the first quarter. Bridgeway Capital Management LLC now owns 123,634 shares of the bank’s stock valued at $4,315,000 after purchasing an additional 17,266 shares in the last quarter. Trexquant Investment LP acquired a new stake in First Mid Bancshares during the first quarter valued at approximately $376,000. Nuveen LLC acquired a new stake in First Mid Bancshares during the first quarter valued at approximately $1,868,000. Finally, GW&K Investment Management LLC boosted its holdings in First Mid Bancshares by 2.2% during the first quarter. GW&K Investment Management LLC now owns 460,197 shares of the bank’s stock valued at $16,061,000 after purchasing an additional 9,695 shares in the last quarter. 47.57% of the stock is owned by institutional investors and hedge funds.

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.