Analysts Set First Mid Bancshares, Inc. (NASDAQ:FMBH) Price Target at $42.50

First Mid Bancshares, Inc. (NASDAQ:FMBH) has been assigned an average rating of “Moderate Buy” from the six brokerages 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 1-year price objective among brokerages that have covered the stock in the last year is $42.50.

FMBH has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lifted their target price on 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. DA Davidson cut 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 report on Tuesday, November 12th. Stephens reaffirmed an “equal weight” rating and set a $43.00 price target on shares of First Mid Bancshares in a report on Friday, January 24th. Finally, Piper Sandler boosted their price objective on shares of First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, November 1st.

Insider Activity

In other news, Director James Edwin Zimmer bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average price of $39.87 per share, with a total value of $39,870.00. Following the purchase, the director now owns 4,050 shares of the company’s stock, valued at $161,473.50. This trade represents a 32.79 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On First Mid Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in First Mid Bancshares by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 778,135 shares of the bank’s stock worth $25,584,000 after buying an additional 36,769 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of First Mid Bancshares by 7.3% in the third quarter. Wellington Management Group LLP now owns 387,926 shares of the bank’s stock worth $15,094,000 after acquiring an additional 26,560 shares during the last quarter. Barclays PLC grew its holdings in First Mid Bancshares by 327.6% in the third quarter. Barclays PLC now owns 34,347 shares of the bank’s stock valued at $1,337,000 after purchasing an additional 26,315 shares during the period. JPMorgan Chase & Co. increased its position in First Mid Bancshares by 24.1% during the third quarter. JPMorgan Chase & Co. now owns 133,132 shares of the bank’s stock worth $5,180,000 after purchasing an additional 25,855 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of First Mid Bancshares in the 3rd quarter worth $869,000. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

First Mid Bancshares Stock Down 2.1 %

Shares of NASDAQ:FMBH opened at $38.15 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’s 50 day moving average price is $38.80 and its 200 day moving average price is $38.84. The stock has a market cap of $912.17 million, a price-to-earnings ratio of 11.74 and a beta of 0.93. First Mid Bancshares has a fifty-two week low of $28.86 and a fifty-two week high of $43.86.

First Mid Bancshares (NASDAQ:FMBH) last issued its earnings results on Thursday, January 23rd. The bank reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.05. First Mid Bancshares had a return on equity of 10.38% and a net margin of 17.32%. As a group, equities research analysts predict that First Mid Bancshares will post 3.42 earnings per share for the current fiscal year.

First Mid Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Thursday, February 13th. First Mid Bancshares’s payout ratio is currently 29.54%.

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.