First Mid Bancshares, Inc. (NASDAQ:FMBH) Given Consensus Recommendation of “Buy” by Analysts

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have been assigned an average rating of “Buy” from the four analysts that are presently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $37.00.

A number of equities research analysts have recently weighed in on the stock. Piper Sandler reduced their price target on shares of First Mid Bancshares from $39.00 to $38.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Hovde Group began coverage on shares of First Mid Bancshares in a research report on Wednesday. They issued an “outperform” rating and a $35.00 target price on the stock.

Institutional Investors Weigh In On First Mid Bancshares

A number of institutional investors have recently modified their holdings of the company. Ballentine Partners LLC acquired a new position in shares of First Mid Bancshares during the 4th quarter valued at $65,151,000. Endeavour Capital Advisors Inc. bought a new stake in First Mid Bancshares in the third quarter valued at $10,895,000. Vanguard Group Inc. raised its holdings in shares of First Mid Bancshares by 7.1% during the first quarter. Vanguard Group Inc. now owns 1,292,218 shares of the bank’s stock valued at $42,230,000 after purchasing an additional 85,434 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of First Mid Bancshares by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 678,953 shares of the bank’s stock worth $23,533,000 after purchasing an additional 34,401 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of First Mid Bancshares by 21.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 176,704 shares of the bank’s stock valued at $6,125,000 after buying an additional 31,164 shares during the period. 47.57% of the stock is owned by institutional investors.

First Mid Bancshares Price Performance

Shares of FMBH stock traded down $0.08 during trading hours on Wednesday, reaching $30.62. The company’s stock had a trading volume of 3,729 shares, compared to its average volume of 50,518. First Mid Bancshares has a fifty-two week low of $23.54 and a fifty-two week high of $35.83. The firm’s 50 day simple moving average is $31.60 and its 200-day simple moving average is $31.83. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $731.82 million, a price-to-earnings ratio of 9.88 and a beta of 0.89.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings data on Wednesday, April 24th. The bank reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.07. First Mid Bancshares had a return on equity of 10.56% and a net margin of 17.01%. The business had revenue of $79.95 million for the quarter, compared to analyst estimates of $80.20 million. Sell-side analysts forecast that First Mid Bancshares will post 3.23 earnings per share for the current year.

First Mid Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 15th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.00%. The ex-dividend date was Tuesday, May 14th. First Mid Bancshares’s dividend payout ratio is currently 29.68%.

About First Mid Bancshares

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.