Geode Capital Management LLC Has $19.98 Million Stake in First Mid Bancshares, Inc. (NASDAQ:FMBH)

Geode Capital Management LLC cut its stake in First Mid Bancshares, Inc. (NASDAQ:FMBH) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 513,492 shares of the bank’s stock after selling 13,245 shares during the period. Geode Capital Management LLC owned 2.15% of First Mid Bancshares worth $19,984,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of FMBH. Victory Capital Management Inc. boosted its holdings in shares of First Mid Bancshares by 2.2% during the 2nd quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank’s stock worth $998,000 after buying an additional 650 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of First Mid Bancshares by 1.0% during the 3rd 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 in the last quarter. Rhumbline Advisers grew its stake in shares of First Mid Bancshares by 3.3% in the 2nd 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. Choreo LLC increased its position in First Mid Bancshares by 17.9% in the 2nd quarter. Choreo LLC now owns 7,568 shares of the bank’s stock valued at $246,000 after buying an additional 1,149 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in First Mid Bancshares by 33.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,001 shares of the bank’s stock worth $233,000 after buying an additional 1,510 shares during the period. Institutional investors own 47.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FMBH shares. Piper Sandler increased their price target on First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. DA Davidson downgraded First Mid Bancshares from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $44.00 to $47.00 in a research note on Tuesday, November 12th. Stephens lowered shares of First Mid Bancshares from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Finally, Keefe, Bruyette & Woods lifted 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. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

First Mid Bancshares Trading Down 1.8 %

Shares of FMBH stock opened at $36.99 on Friday. 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 $884.50 million, a P/E ratio of 11.38 and a beta of 0.91. The company has a 50 day moving average of $40.34 and a 200-day moving average of $38.07. First Mid Bancshares, Inc. has a 12-month low of $28.86 and a 12-month high of $43.86.

First Mid Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.60%. The ex-dividend date was Thursday, November 14th. First Mid Bancshares’s dividend payout ratio (DPR) is currently 29.54%.

About First Mid Bancshares

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.