Choreo LLC Has $246,000 Position in First Mid Bancshares, Inc. (NASDAQ:FMBH)

Choreo LLC increased its holdings in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) by 17.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,568 shares of the bank’s stock after purchasing an additional 1,149 shares during the period. Choreo LLC’s holdings in First Mid Bancshares were worth $246,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of FMBH. Vanguard Group Inc. lifted its holdings in shares of First Mid Bancshares by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 1,292,218 shares of the bank’s stock valued at $42,230,000 after purchasing an additional 85,434 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of First Mid Bancshares by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 678,953 shares of the bank’s stock valued at $23,533,000 after purchasing an additional 34,401 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of First Mid Bancshares by 21.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 176,704 shares of the bank’s stock valued at $6,125,000 after purchasing an additional 31,164 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of First Mid Bancshares by 5.9% during the 4th quarter. Wellington Management Group LLP now owns 294,666 shares of the bank’s stock valued at $10,213,000 after purchasing an additional 16,388 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of First Mid Bancshares by 29.3% during the 1st quarter. Russell Investments Group Ltd. now owns 67,127 shares of the bank’s stock valued at $2,194,000 after purchasing an additional 15,227 shares in the last quarter. Institutional investors own 47.57% of the company’s stock.

Analysts Set New Price Targets

Separately, Hovde Group began coverage on First Mid Bancshares in a report on Wednesday, June 26th. They set an “outperform” rating and a $35.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.60.

First Mid Bancshares Trading Up 0.2 %

NASDAQ FMBH opened at $39.75 on Thursday. The stock has a market capitalization of $949.87 million, a price-to-earnings ratio of 12.82 and a beta of 0.89. The stock’s 50 day moving average price is $38.23 and its two-hundred day moving average price is $33.81. 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, Inc. has a 52 week low of $25.73 and a 52 week high of $41.02.

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

First Mid Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, August 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.42%. This is a boost from First Mid Bancshares’s previous quarterly dividend of $0.23. First Mid Bancshares’s dividend payout ratio is currently 30.97%.

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.