First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives $42.50 Consensus Target Price from Brokerages

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $42.50.

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of First Mid Bancshares from $42.00 to $45.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Stephens lowered shares of First Mid Bancshares from an “overweight” rating to an “equal weight” rating in a report on Monday. DA Davidson downgraded shares of First Mid Bancshares from a “buy” rating to a “neutral” rating and upped their price objective for the company from $44.00 to $47.00 in a research note on Tuesday, November 12th. Finally, Piper Sandler raised their target price on First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st.

First Mid Bancshares Trading Down 1.7 %

NASDAQ FMBH opened at $40.94 on Friday. The firm has a market cap of $978.88 million, a PE ratio of 12.60 and a beta of 0.91. First Mid Bancshares has a 1-year low of $28.86 and a 1-year high of $43.86. The stock has a 50-day moving average of $40.07 and a 200-day moving average of $37.36. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.41.

First Mid Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.34%. First Mid Bancshares’s dividend payout ratio (DPR) is 29.54%.

Hedge Funds Weigh In On First Mid Bancshares

Institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in shares of First Mid Bancshares by 2.2% during the second quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank’s stock valued at $998,000 after purchasing an additional 650 shares during the last quarter. CWM LLC boosted its stake in shares of First Mid Bancshares by 344.2% in the 2nd quarter. CWM LLC now owns 884 shares of the bank’s stock worth $29,000 after buying an additional 685 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in First Mid Bancshares by 1.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 88,910 shares of the bank’s stock worth $3,459,000 after purchasing an additional 900 shares during the last quarter. Rhumbline Advisers grew its position in First Mid Bancshares by 3.3% during the second quarter. Rhumbline Advisers now owns 33,272 shares of the bank’s stock valued at $1,094,000 after buying an additional 1,049 shares during the period. Finally, Choreo LLC increased its stake in shares of First Mid Bancshares by 17.9% in the 2nd quarter. Choreo LLC now owns 7,568 shares of the bank’s stock worth $246,000 after purchasing an additional 1,149 shares in the last quarter. Institutional investors 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.