First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives $43.75 Consensus Target Price from Analysts

First Mid Bancshares, Inc. (NASDAQ:FMBH) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $43.75.

FMBH has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of First Mid Bancshares in a research note on Monday, December 29th. Zacks Research cut First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Finally, DA Davidson boosted their price target on First Mid Bancshares from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd.

First Mid Bancshares Price Performance

Shares of FMBH opened at $43.67 on Friday. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 11.37 and a beta of 0.82. First Mid Bancshares has a fifty-two week low of $31.75 and a fifty-two week high of $44.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.96 and a quick ratio of 0.96. The business’s 50-day moving average is $41.77 and its 200-day moving average is $40.03.

First Mid Bancshares (NASDAQ:FMBH) last issued its earnings results on Thursday, January 29th. The bank reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. The company had revenue of $90.14 million for the quarter, compared to the consensus estimate of $67.86 million. First Mid Bancshares had a return on equity of 10.44% and a net margin of 19.69%. Equities research analysts expect that First Mid Bancshares will post 3.61 EPS for the current fiscal year.

First Mid Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Thursday, February 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Thursday, February 12th. First Mid Bancshares’s dividend payout ratio is 26.04%.

Insider Transactions at First Mid Bancshares

In other First Mid Bancshares news, EVP Bradley L. Beesley sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $44.00, for a total transaction of $264,000.00. Following the completion of the sale, the executive vice president owned 12,378 shares of the company’s stock, valued at $544,632. This represents a 32.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.00% of the stock is owned by insiders.

Institutional Investors Weigh In On First Mid Bancshares

Hedge funds have recently modified their holdings of the business. Clearstead Advisors LLC boosted its position in shares of First Mid Bancshares by 147.2% in the fourth quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock valued at $33,000 after acquiring an additional 505 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of First Mid Bancshares in the third quarter valued at $36,000. Strs Ohio acquired a new position in shares of First Mid Bancshares in the first quarter valued at $42,000. Aquatic Capital Management LLC raised its stake in shares of First Mid Bancshares by 272.5% in the third quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank’s stock valued at $54,000 after purchasing an additional 1,052 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of First Mid Bancshares by 32.0% in the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock valued at $64,000 after purchasing an additional 415 shares in the last quarter. 47.57% of the stock is owned by institutional investors.

First Mid Bancshares Company Profile

First Mid Bancshares, Inc (NASDAQ: FMBH), headquartered in Mattoon, Illinois, is a financial services holding company that offers a comprehensive suite of banking products and services through its main subsidiary, First Mid Bank & Trust. The company’s primary business activities include commercial and retail banking, mortgage origination and servicing, wealth management and trust administration, as well as treasury and cash management solutions.

Through its branch network, First Mid provides consumer deposit products such as checking and savings accounts, certificates of deposit and online banking services.