First Mid Bancshares, Inc. (NASDAQ:FMBH) Given Average Recommendation of “Moderate Buy” by Brokerages

First Mid Bancshares, Inc. (NASDAQ:FMBH) has earned an average rating of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $43.1667.

A number of research analysts recently issued reports on the company. Weiss Ratings downgraded First Mid Bancshares from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Zacks Research raised shares of First Mid Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Wall Street Zen upgraded shares of First Mid Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Piper Sandler reduced their target price on shares of First Mid Bancshares from $49.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. Finally, DA Davidson raised their target price 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.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. bought a new position in First Mid Bancshares in the first quarter valued at approximately $26,000. Meeder Asset Management Inc. acquired a new stake in shares of First Mid Bancshares in the 1st quarter valued at approximately $29,000. State of Alaska Department of Revenue bought a new position in shares of First Mid Bancshares in the third quarter valued at $36,000. Strs Ohio bought a new position in shares of First Mid Bancshares in the first quarter valued at $42,000. Finally, Federated Hermes Inc. increased its holdings in First Mid Bancshares by 35.6% during the first quarter. Federated Hermes Inc. now owns 1,295 shares of the bank’s stock worth $45,000 after buying an additional 340 shares during the last quarter. 47.57% of the stock is owned by institutional investors and hedge funds.

First Mid Bancshares Stock Down 3.4%

Shares of FMBH stock opened at $35.99 on Tuesday. First Mid Bancshares has a 12-month low of $27.58 and a 12-month high of $43.86. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.37. The firm has a fifty day moving average of $37.43 and a 200-day moving average of $37.62. The company has a market capitalization of $863.76 million, a price-to-earnings ratio of 9.86 and a beta of 0.93.

First Mid Bancshares (NASDAQ:FMBH) last announced its earnings results on Thursday, October 30th. The bank reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $89.27 million during the quarter, compared to analyst estimates of $65.60 million. First Mid Bancshares had a net margin of 18.77% and a return on equity of 10.27%. As a group, equities research analysts predict that First Mid Bancshares will post 3.61 earnings per share for the current fiscal year.

First Mid Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.8%. First Mid Bancshares’s payout ratio is currently 27.40%.

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.