Renaissance Technologies LLC Acquires 2,800 Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH)

Renaissance Technologies LLC boosted its stake in First Mid Bancshares, Inc. (NASDAQ:FMBH) by 27.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,000 shares of the bank’s stock after acquiring an additional 2,800 shares during the period. Renaissance Technologies LLC owned 0.05% of First Mid Bancshares worth $427,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in FMBH. Dimensional Fund Advisors LP boosted its position in First Mid Bancshares by 5.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 778,135 shares of the bank’s stock valued at $25,584,000 after acquiring an additional 36,769 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of First Mid Bancshares by 23.7% in the 2nd quarter. American Century Companies Inc. now owns 340,343 shares of the bank’s stock valued at $11,190,000 after purchasing an additional 65,314 shares during the period. Choreo LLC boosted its position in shares of First Mid Bancshares by 17.9% during the second quarter. Choreo LLC now owns 7,568 shares of the bank’s stock valued at $246,000 after purchasing an additional 1,149 shares in the last quarter. Victory Capital Management Inc. grew its stake in First Mid Bancshares by 2.2% in the second quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank’s stock worth $998,000 after purchasing an additional 650 shares during the period. Finally, Rhumbline Advisers raised its holdings in First Mid Bancshares by 3.3% in the second quarter. Rhumbline Advisers now owns 33,272 shares of the bank’s stock worth $1,094,000 after purchasing an additional 1,049 shares in the last quarter. Institutional investors own 47.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FMBH shares. Keefe, Bruyette & Woods cut shares of First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 target price on the stock. in a report on Wednesday, October 2nd. Hovde Group began coverage on shares of First Mid Bancshares in a research note on Wednesday, June 26th. They set an “outperform” rating and a $35.00 price objective on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.20.

First Mid Bancshares Price Performance

Shares of NASDAQ:FMBH opened at $37.25 on Friday. The business has a fifty day moving average price of $38.45 and a 200-day moving average price of $34.66. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $890.13 million, a PE ratio of 12.02 and a beta of 0.89. First Mid Bancshares, Inc. has a 1-year low of $25.73 and a 1-year high of $41.02.

First Mid Bancshares (NASDAQ:FMBH) last issued its earnings results on Thursday, August 1st. The bank reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.05. The business had revenue of $79.19 million during the quarter, compared to analysts’ expectations of $78.25 million. First Mid Bancshares had a net margin of 16.75% and a return on equity of 10.43%. As a group, equities analysts expect that First Mid Bancshares, Inc. will post 3.47 EPS for the current fiscal year.

First Mid Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 16th. This is a boost from First Mid Bancshares’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 2.58%. First Mid Bancshares’s dividend payout ratio is 30.97%.

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.