State Street Corp Boosts Stock Position in First Mid Bancshares, Inc. (NASDAQ:FMBH)

State Street Corp raised its stake in First Mid Bancshares, Inc. (NASDAQ:FMBH) by 0.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 512,231 shares of the bank’s stock after purchasing an additional 434 shares during the quarter. State Street Corp owned 2.14% of First Mid Bancshares worth $19,931,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of FMBH. Victory Capital Management Inc. grew its position in First Mid Bancshares by 2.2% in the 2nd quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank’s stock valued at $998,000 after buying an additional 650 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of 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 valued at $3,459,000 after acquiring an additional 900 shares in the last quarter. Rhumbline Advisers increased its stake in shares of First Mid Bancshares by 3.3% during the second quarter. Rhumbline Advisers now owns 33,272 shares of the bank’s stock worth $1,094,000 after acquiring an additional 1,049 shares during the period. Choreo LLC raised its holdings in First Mid Bancshares by 17.9% during the second 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. Finally, BNP Paribas Financial Markets lifted its position in First Mid Bancshares by 33.6% in the third quarter. BNP Paribas Financial Markets now owns 6,001 shares of the bank’s stock valued at $233,000 after purchasing an additional 1,510 shares during the period. Institutional investors and hedge funds own 47.57% of the company’s stock.

Analysts Set New Price Targets

FMBH has been the topic of several recent analyst reports. Piper Sandler boosted their target price on First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Stephens cut First Mid Bancshares from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods boosted 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 research report on Wednesday, December 4th. Finally, DA Davidson downgraded shares of First Mid Bancshares from a “buy” rating to a “neutral” rating and increased their price target for the company from $44.00 to $47.00 in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, First Mid Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

First Mid Bancshares Trading Down 1.1 %

Shares of FMBH stock opened at $37.50 on Tuesday. First Mid Bancshares, Inc. has a fifty-two week low of $28.86 and a fifty-two week high of $43.86. 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 business has a fifty day simple moving average of $40.55 and a 200-day simple moving average of $37.90. The stock has a market cap of $896.70 million, a P/E ratio of 11.54 and a beta of 0.91.

First Mid Bancshares Dividend Announcement

The firm 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 was Thursday, November 14th. This represents a $0.96 annualized dividend and a yield of 2.56%. First Mid Bancshares’s dividend payout ratio (DPR) is currently 29.54%.

First Mid Bancshares 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.