Franklin Resources Inc. Makes New $566,000 Investment in First Mid Bancshares, Inc. (NASDAQ:FMBH)

Franklin Resources Inc. acquired a new stake in First Mid Bancshares, Inc. (NASDAQ:FMBH) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 14,598 shares of the bank’s stock, valued at approximately $566,000. Franklin Resources Inc. owned about 0.06% of First Mid Bancshares at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP bought a new stake in First Mid Bancshares in the third quarter worth $84,000. PDT Partners LLC bought a new stake in shares of First Mid Bancshares in the 3rd quarter worth about $203,000. Centiva Capital LP purchased a new position in shares of First Mid Bancshares during the 3rd quarter worth about $213,000. BNP Paribas Financial Markets grew its holdings 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 valued at $233,000 after purchasing an additional 1,510 shares during the last quarter. Finally, Choreo LLC lifted 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 worth $246,000 after purchasing an additional 1,149 shares during the last quarter. Hedge funds and other institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Stock Performance

FMBH stock opened at $36.93 on Tuesday. First Mid Bancshares, Inc. has a 1-year low of $28.86 and a 1-year high of $43.86. The business has a 50-day moving average price of $40.34 and a 200 day moving average price of $38.12. The company has a market capitalization of $883.07 million, a P/E ratio of 11.36 and a beta of 0.91. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.91 and a quick ratio of 0.91.

First Mid Bancshares Dividend Announcement

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

Analysts Set New Price Targets

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

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.