First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives $38.20 Average Price Target from Analysts

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have received a consensus rating of “Moderate Buy” from the five brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $38.20.

Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods cut shares of First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 price objective on the stock. in a research note on Wednesday, October 2nd. Hovde Group started coverage on First Mid Bancshares in a report on Wednesday, June 26th. They issued an “outperform” rating and a $35.00 price target on the stock.

First Mid Bancshares Stock Performance

Shares of NASDAQ FMBH opened at $36.95 on Friday. First Mid Bancshares has a 1 year low of $25.73 and a 1 year high of $41.02. The firm has a market cap of $882.96 million, a P/E ratio of 11.92 and a beta of 0.89. The stock has a fifty day moving average price of $38.49 and a two-hundred day moving average price of $34.62. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.91 and a current ratio of 0.91.

First Mid Bancshares (NASDAQ:FMBH) last announced its earnings results on Thursday, August 1st. The bank reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.05. First Mid Bancshares had a return on equity of 10.43% and a net margin of 16.75%. The business had revenue of $79.19 million during the quarter, compared to analysts’ expectations of $78.25 million. Research analysts forecast that First Mid Bancshares will post 3.47 EPS for the current fiscal year.

First Mid Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a $0.24 dividend. This is an increase from First Mid Bancshares’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend was Friday, August 16th. First Mid Bancshares’s dividend payout ratio (DPR) is 30.97%.

Institutional Investors Weigh In On First Mid Bancshares

A number of large investors have recently made changes to their positions in FMBH. Russell Investments Group Ltd. grew its position in First Mid Bancshares by 29.3% during the 1st quarter. Russell Investments Group Ltd. now owns 67,127 shares of the bank’s stock worth $2,194,000 after purchasing an additional 15,227 shares in the last quarter. Vanguard Group Inc. raised its position in First Mid Bancshares by 7.1% during the first quarter. Vanguard Group Inc. now owns 1,292,218 shares of the bank’s stock valued at $42,230,000 after buying an additional 85,434 shares during the period. Victory Capital Management Inc. lifted its stake in First Mid Bancshares by 2.2% in the 2nd quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank’s stock worth $998,000 after acquiring an additional 650 shares in the last quarter. Bank of New York Mellon Corp boosted its position in First Mid Bancshares by 7.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 118,048 shares of the bank’s stock worth $3,881,000 after acquiring an additional 7,849 shares during the period. Finally, CWM LLC grew its stake in First Mid Bancshares by 344.2% during the 2nd quarter. CWM LLC now owns 884 shares of the bank’s stock valued at $29,000 after acquiring an additional 685 shares in the last quarter. Institutional investors and hedge funds own 47.57% of the company’s stock.

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.