Brokerages Set First Mid Bancshares, Inc. (NASDAQ:FMBH) PT at $37.00

First Mid Bancshares, Inc. (NASDAQ:FMBH) has received a consensus recommendation of “Buy” from the five brokerages that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have covered the stock in the last year is $36.60.

Several analysts have recently commented on FMBH shares. Hovde Group started coverage on shares of First Mid Bancshares in a research report on Wednesday. They set an “outperform” rating and a $35.00 price objective on the stock. Piper Sandler decreased their price objective on shares of First Mid Bancshares from $39.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th.

Institutional Investors Weigh In On First Mid Bancshares

Institutional investors have recently made changes to their positions in the company. ICA Group Wealth Management LLC bought a new stake in First Mid Bancshares during the 4th quarter valued at about $25,000. EntryPoint Capital LLC bought a new stake in shares of First Mid Bancshares in the 1st quarter valued at about $29,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of First Mid Bancshares by 48.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,370 shares of the bank’s stock valued at $186,000 after purchasing an additional 1,743 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of First Mid Bancshares in the 4th quarter valued at about $208,000. Finally, Arizona State Retirement System bought a new stake in shares of First Mid Bancshares in the 4th quarter valued at about $208,000. Institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Stock Up 2.9 %

Shares of First Mid Bancshares stock opened at $32.88 on Wednesday. The company has a market cap of $785.83 million, a price-to-earnings ratio of 10.61 and a beta of 0.89. The company’s 50 day moving average is $31.72 and its 200 day moving average is $31.83. First Mid Bancshares has a twelve month low of $23.54 and a twelve month high of $35.83. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.46.

First Mid Bancshares (NASDAQ:FMBH) last issued its quarterly earnings data on Wednesday, April 24th. The bank reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.07. First Mid Bancshares had a net margin of 17.01% and a return on equity of 10.56%. The company had revenue of $79.95 million for the quarter, compared to the consensus estimate of $80.20 million. Research analysts anticipate that First Mid Bancshares will post 3.23 EPS for the current year.

First Mid Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were issued a $0.23 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $0.92 annualized dividend and a dividend yield of 2.80%. First Mid Bancshares’s dividend payout ratio (DPR) is presently 29.68%.

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.