Connor Clark & Lunn Investment Management Ltd. Makes New Investment in First Mid Bancshares, Inc. (NASDAQ:FMBH)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in First Mid Bancshares, Inc. (NASDAQ:FMBH) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 22,331 shares of the bank’s stock, valued at approximately $869,000. Connor Clark & Lunn Investment Management Ltd. owned 0.09% of First Mid Bancshares as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FMBH. CWM LLC lifted its position in shares of First Mid Bancshares by 344.2% in the 2nd quarter. CWM LLC now owns 884 shares of the bank’s stock worth $29,000 after purchasing an additional 685 shares during the period. Price T Rowe Associates Inc. MD acquired a new position in shares of First Mid Bancshares in the 1st quarter worth approximately $208,000. Choreo LLC lifted its position in shares of First Mid Bancshares by 17.9% in the 2nd 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 period. CarsonAllaria Wealth Management Ltd. lifted its position in shares of First Mid Bancshares by 29.9% in the 3rd quarter. CarsonAllaria Wealth Management Ltd. now owns 9,927 shares of the bank’s stock worth $386,000 after purchasing an additional 2,285 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of First Mid Bancshares by 27.5% in the 2nd quarter. Renaissance Technologies LLC now owns 13,000 shares of the bank’s stock worth $427,000 after purchasing an additional 2,800 shares during the period. Institutional investors and hedge funds own 47.57% of the company’s stock.

First Mid Bancshares Stock Performance

FMBH opened at $42.18 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.41. The company’s fifty day moving average price is $39.55 and its two-hundred day moving average price is $36.78. First Mid Bancshares, Inc. has a 1-year low of $28.86 and a 1-year high of $43.86. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 13.13 and a beta of 0.89.

First Mid Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.96 annualized dividend and a yield of 2.28%. First Mid Bancshares’s payout ratio is 29.54%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. DA Davidson downgraded shares of First Mid Bancshares from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $44.00 to $47.00 in a research report on Tuesday, November 12th. Keefe, Bruyette & Woods downgraded 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 research report on Wednesday, October 2nd. Piper Sandler boosted their target price on shares of First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Stephens boosted 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 report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, First Mid Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

First Mid Bancshares 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.