First Mid Bancshares (NASDAQ:FMBH) Cut to “Neutral” at DA Davidson

DA Davidson lowered shares of First Mid Bancshares (NASDAQ:FMBH) from a buy rating to a neutral rating in a report released on Tuesday, MarketBeat.com reports. The firm currently has $47.00 price target on the bank’s stock, up from their prior price target of $44.00.

FMBH has been the topic of several other reports. Piper Sandler upped their price objective on shares of First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. 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 report on Wednesday, October 2nd. Finally, Stephens upped their price objective on shares of First Mid Bancshares from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, First Mid Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

First Mid Bancshares Price Performance

Shares of FMBH stock traded down $0.01 during trading on Tuesday, hitting $41.53. The company had a trading volume of 19,232 shares, compared to its average volume of 58,294. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.41. The stock’s 50-day moving average is $39.07 and its two-hundred day moving average is $36.17. The stock has a market capitalization of $992.98 million, a price-to-earnings ratio of 12.78 and a beta of 0.89. First Mid Bancshares has a 52 week low of $28.86 and a 52 week high of $43.52.

First Mid Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.31%. The ex-dividend date is Thursday, November 14th. First Mid Bancshares’s dividend payout ratio is currently 29.54%.

Institutional Trading of First Mid Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of FMBH. EntryPoint Capital LLC purchased a new stake in shares of First Mid Bancshares during the first quarter valued at approximately $29,000. CWM LLC boosted its stake in shares of First Mid Bancshares by 344.2% during the second quarter. CWM LLC now owns 884 shares of the bank’s stock valued at $29,000 after purchasing an additional 685 shares during the period. Quantbot Technologies LP purchased a new stake in shares of First Mid Bancshares during the third quarter valued at approximately $84,000. PDT Partners LLC purchased a new stake in shares of First Mid Bancshares during the third quarter valued at approximately $203,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of First Mid Bancshares during the first quarter valued at approximately $208,000. Hedge funds and other institutional investors own 47.57% of the company’s stock.

About First Mid Bancshares

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.