First Mid Bancshares (NASDAQ:FMBH) Cut to Neutral at DA Davidson

DA Davidson downgraded shares of First Mid Bancshares (NASDAQ:FMBH) from a buy rating to a neutral rating in a research report released on Tuesday morning, Marketbeat reports. DA Davidson currently has $47.00 price objective on the bank’s stock, up from their previous price objective of $44.00.

Other equities research analysts have also issued research reports about the stock. Stephens lifted their target price on shares of First Mid Bancshares from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods cut First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 price objective on the stock. in a research report on Wednesday, October 2nd. 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 report on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

First Mid Bancshares Price Performance

Shares of First Mid Bancshares stock opened at $41.99 on Tuesday. The business has a 50 day moving average of $39.14 and a 200 day moving average of $36.25. First Mid Bancshares has a 52 week low of $28.86 and a 52 week high of $43.52. The company has a market cap of $1.00 billion, a PE ratio of 12.92 and a beta of 0.89. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.41.

First Mid Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be given a $0.24 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.29%. First Mid Bancshares’s dividend payout ratio is currently 29.54%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FMBH. EntryPoint Capital LLC bought a new position in shares of First Mid Bancshares during the first quarter valued at $29,000. CWM LLC increased its stake in First Mid Bancshares by 344.2% during the 2nd quarter. CWM LLC now owns 884 shares of the bank’s stock valued at $29,000 after purchasing an additional 685 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of First Mid Bancshares in the third quarter worth approximately $84,000. PDT Partners LLC bought a new position in shares of First Mid Bancshares in the third quarter worth approximately $203,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of First Mid Bancshares during the first quarter valued at approximately $208,000. Institutional investors own 47.57% of the company’s stock.

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.