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

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $43.60.

FMBH has been the topic of several research analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of First Mid Bancshares in a research report on Monday, December 29th. DA Davidson lifted their target price on First Mid Bancshares from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Zacks Research downgraded shares of First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, Piper Sandler lowered their price objective on shares of First Mid Bancshares from $49.00 to $48.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd.

Insiders Place Their Bets

In other First Mid Bancshares news, CEO Clay M. Dean sold 1,099 shares of the business’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $42.69, for a total transaction of $46,916.31. Following the sale, the chief executive officer owned 9,624 shares in the company, valued at approximately $410,848.56. The trade was a 10.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bradley L. Beesley sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $44.00, for a total transaction of $264,000.00. Following the sale, the executive vice president owned 12,378 shares in the company, valued at $544,632. This represents a 32.65% decrease in their position. The disclosure for this sale is available in the SEC filing. 7.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Mid Bancshares

Several hedge funds have recently bought and sold shares of FMBH. AQR Capital Management LLC lifted its position in shares of First Mid Bancshares by 256.9% in the first quarter. AQR Capital Management LLC now owns 105,648 shares of the bank’s stock worth $3,687,000 after purchasing an additional 76,050 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of First Mid Bancshares by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,566 shares of the bank’s stock valued at $473,000 after purchasing an additional 550 shares during the period. Jones Financial Companies Lllp lifted its position in First Mid Bancshares by 1,662.9% during the 1st quarter. Jones Financial Companies Lllp now owns 4,231 shares of the bank’s stock worth $148,000 after acquiring an additional 3,991 shares during the last quarter. Empowered Funds LLC lifted its position in shares of First Mid Bancshares by 31.5% during the 1st quarter. Empowered Funds LLC now owns 72,134 shares of the bank’s stock worth $2,517,000 after purchasing an additional 17,266 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of First Mid Bancshares by 494.1% during the first quarter. Jane Street Group LLC now owns 32,755 shares of the bank’s stock worth $1,143,000 after buying an additional 27,242 shares during the last quarter. 47.57% of the stock is owned by hedge funds and other institutional investors.

First Mid Bancshares Trading Up 1.9%

Shares of NASDAQ:FMBH opened at $42.71 on Thursday. The company has a 50 day moving average of $41.69 and a 200-day moving average of $39.51. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.37. The firm has a market cap of $1.03 billion, a P/E ratio of 11.12 and a beta of 0.91. First Mid Bancshares has a twelve month low of $27.58 and a twelve month high of $44.85.

First Mid Bancshares (NASDAQ:FMBH) last posted its quarterly earnings data on Thursday, January 29th. The bank reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. The business had revenue of $90.14 million for the quarter, compared to analyst estimates of $67.86 million. First Mid Bancshares had a net margin of 19.69% and a return on equity of 10.61%. As a group, analysts anticipate that First Mid Bancshares will post 3.61 earnings per share for the current fiscal year.

First Mid Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Thursday, February 12th will be given a $0.25 dividend. The ex-dividend date is Thursday, February 12th. This represents a $1.00 annualized dividend and a yield of 2.3%. First Mid Bancshares’s payout ratio is 26.04%.

About First Mid Bancshares

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.