First Mid Bancshares (NASDAQ:FMBH) Price Target Raised to $54.00 at Keefe, Bruyette & Woods

First Mid Bancshares (NASDAQ:FMBH) had its price target hoisted by Keefe, Bruyette & Woods from $50.00 to $54.00 in a research note published on Monday morning,Benzinga reports. They currently have a market perform rating on the bank’s stock.

FMBH has been the topic of several other research reports. DA Davidson lifted their price objective on First Mid Bancshares from $47.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday. Raymond James Financial restated an “outperform” rating and issued a $48.00 target price on shares of First Mid Bancshares in a research note on Friday, May 1st. Piper Sandler reiterated an “overweight” rating and set a $55.00 price target (up from $52.00) on shares of First Mid Bancshares in a research note on Friday, May 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of First Mid Bancshares in a report on Friday, May 1st. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.75.

First Mid Bancshares Stock Up 0.3%

Shares of FMBH opened at $51.16 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.97 and a current ratio of 0.97. The company has a 50-day simple moving average of $46.69 and a 200-day simple moving average of $43.69. First Mid Bancshares has a 52 week low of $34.15 and a 52 week high of $51.65. The firm has a market capitalization of $1.36 billion, a P/E ratio of 12.69 and a beta of 0.79.

First Mid Bancshares (NASDAQ:FMBH) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.21. The firm had revenue of $109.32 million for the quarter, compared to analyst estimates of $107.42 million. First Mid Bancshares had a return on equity of 11.17% and a net margin of 19.76%. On average, equities research analysts expect that First Mid Bancshares will post 4.58 earnings per share for the current year.

First Mid Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a $0.26 dividend. This is an increase from First Mid Bancshares’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, August 18th. First Mid Bancshares’s payout ratio is presently 24.81%.

Institutional Trading of First Mid Bancshares

Several hedge funds have recently modified their holdings of FMBH. Jane Street Group LLC raised its position in shares of First Mid Bancshares by 0.8% during the fourth quarter. Jane Street Group LLC now owns 41,096 shares of the bank’s stock worth $1,603,000 after acquiring an additional 326 shares during the last quarter. CWM LLC boosted its holdings in First Mid Bancshares by 5.8% in the fourth quarter. CWM LLC now owns 6,283 shares of the bank’s stock valued at $245,000 after acquiring an additional 343 shares during the last quarter. Federated Hermes Inc. increased its position in First Mid Bancshares by 32.0% in the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock worth $64,000 after purchasing an additional 415 shares during the period. Clearstead Advisors LLC increased its position in First Mid Bancshares by 147.2% in the fourth quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock worth $33,000 after purchasing an additional 505 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in First Mid Bancshares by 17.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the bank’s stock worth $141,000 after purchasing an additional 538 shares during the last quarter. 47.57% of the stock is owned by institutional investors.

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.