First Mid Bancshares (NASDAQ:FMBH) Downgraded to Equal Weight Rating by Stephens

Stephens lowered shares of First Mid Bancshares (NASDAQ:FMBH) from an overweight rating to an equal weight rating in a research report report published on Monday, Marketbeat Ratings reports.

Several other research analysts also recently commented on FMBH. DA Davidson downgraded First Mid Bancshares from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $44.00 to $47.00 in a report on Tuesday, November 12th. Piper Sandler boosted their price objective 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. Finally, Keefe, Bruyette & Woods raised their target price on First Mid Bancshares from $42.00 to $45.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

First Mid Bancshares Price Performance

NASDAQ:FMBH opened at $40.94 on Monday. 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 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 12 month low of $28.86 and a 12 month high of $43.86. The company’s 50-day moving average price is $40.07 and its two-hundred day moving average price is $37.36.

First Mid Bancshares Dividend Announcement

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

Hedge Funds Weigh In On First Mid Bancshares

Several large investors have recently made changes to their positions in FMBH. Victory Capital Management Inc. increased its position in First Mid Bancshares by 2.2% in the second quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank’s stock worth $998,000 after purchasing an additional 650 shares during the period. CWM LLC grew its position in shares of First Mid Bancshares by 344.2% during 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 period. Hotchkis & Wiley Capital Management LLC raised its stake in shares of First Mid Bancshares by 1.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 88,910 shares of the bank’s stock worth $3,459,000 after buying an additional 900 shares during the last quarter. Rhumbline Advisers lifted its holdings in First Mid Bancshares by 3.3% in 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 lifted its holdings 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 buying an additional 1,149 shares during the period. Institutional investors and hedge funds 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.