Short Interest in First Mid Bancshares, Inc. (NASDAQ:FMBH) Declines By 15.3%

First Mid Bancshares, Inc. (NASDAQ:FMBH) was the target of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 157,700 shares, a decline of 15.3% from the September 30th total of 186,200 shares. Based on an average trading volume of 62,500 shares, the days-to-cover ratio is presently 2.5 days.

First Mid Bancshares Stock Up 2.4 %

Shares of NASDAQ FMBH opened at $38.75 on Tuesday. First Mid Bancshares has a 1 year low of $26.84 and a 1 year high of $41.02. The firm has a market cap of $925.97 million, a price-to-earnings ratio of 12.50 and a beta of 0.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.91 and a current ratio of 0.91. The stock’s 50-day simple moving average is $38.84 and its 200-day simple moving average is $35.36.

First Mid Bancshares (NASDAQ:FMBH) last posted its quarterly earnings results on Thursday, August 1st. The bank reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.05. The business had revenue of $79.19 million during the quarter, compared to the consensus estimate 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, equities analysts anticipate that First Mid Bancshares will post 3.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lowered First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 target price on the stock. in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.20.

Hedge Funds Weigh In On First Mid Bancshares

A number of hedge funds have recently bought and sold shares of the company. CWM LLC boosted its stake in First Mid Bancshares by 344.2% in the second quarter. CWM LLC now owns 884 shares of the bank’s stock valued at $29,000 after acquiring an additional 685 shares during the period. EntryPoint Capital LLC acquired a new position in First Mid Bancshares in the first quarter valued at approximately $29,000. Price T Rowe Associates Inc. MD acquired a new position in First Mid Bancshares in the first quarter valued at approximately $208,000. Choreo LLC boosted its stake in First Mid Bancshares by 17.9% in the second quarter. Choreo LLC now owns 7,568 shares of the bank’s stock valued at $246,000 after acquiring an additional 1,149 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake in First Mid Bancshares by 29.9% in the third quarter. CarsonAllaria Wealth Management Ltd. now owns 9,927 shares of the bank’s stock valued at $386,000 after acquiring an additional 2,285 shares during the period. 47.57% of the stock is currently owned by institutional investors and hedge funds.

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.