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

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

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their price objective on 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 cut shares of First Mid Bancshares from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. DA Davidson cut shares of First Mid Bancshares from a “buy” rating to a “neutral” rating and lifted their price target for the company from $44.00 to $47.00 in a research report on Tuesday, November 12th. Finally, Piper Sandler upped 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.

First Mid Bancshares Stock Up 0.6 %

Shares of NASDAQ:FMBH opened at $36.19 on Wednesday. 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’s 50-day simple moving average is $40.12 and its 200-day simple moving average is $38.22. First Mid Bancshares has a fifty-two week low of $28.86 and a fifty-two week high of $43.86. The company has a market cap of $865.38 million, a price-to-earnings ratio of 11.14 and a beta of 0.91.

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. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.65%. First Mid Bancshares’s dividend payout ratio is currently 29.54%.

Hedge Funds Weigh In On First Mid Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. acquired a new stake in shares of First Mid Bancshares during the 3rd quarter worth approximately $566,000. Barclays PLC grew its position in shares of First Mid Bancshares by 327.6% in the 3rd quarter. Barclays PLC now owns 34,347 shares of the bank’s stock valued at $1,337,000 after acquiring an additional 26,315 shares during the period. SG Americas Securities LLC increased its position in First Mid Bancshares by 44.6% during the third quarter. SG Americas Securities LLC now owns 12,006 shares of the bank’s stock worth $467,000 after buying an additional 3,703 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in First Mid Bancshares by 2.2% during the 2nd 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. Finally, AQR Capital Management LLC increased its holdings in shares of First Mid Bancshares by 106.4% in the second quarter. AQR Capital Management LLC now owns 31,333 shares of the bank’s stock valued at $1,030,000 after purchasing an additional 16,150 shares during the last quarter. 47.57% of the stock is currently owned by institutional investors.

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.