First Mid Bancshares, Inc. (NASDAQ:FMBH) Sees Significant Drop in Short Interest

First Mid Bancshares, Inc. (NASDAQ:FMBH) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 157,700 shares, a decline of 15.3% from the September 30th total of 186,200 shares. Based on an average daily volume of 62,500 shares, the short-interest ratio is presently 2.5 days.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods downgraded First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 price target for the company. in a report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, First Mid Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $38.20.

Institutional Investors Weigh In On First Mid Bancshares

Several institutional investors have recently made changes to their positions in FMBH. Vanguard Group Inc. lifted its stake in shares of First Mid Bancshares by 7.1% in 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 increased its holdings in First Mid Bancshares by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 778,135 shares of the bank’s stock valued at $25,584,000 after buying an additional 36,769 shares in the last quarter. American Century Companies Inc. lifted its position in shares of First Mid Bancshares by 23.7% during the 2nd quarter. American Century Companies Inc. now owns 340,343 shares of the bank’s stock valued at $11,190,000 after acquiring an additional 65,314 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of First Mid Bancshares by 7.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 118,048 shares of the bank’s stock worth $3,881,000 after acquiring an additional 7,849 shares in the last quarter. Finally, Creative Planning grew its holdings in shares of First Mid Bancshares by 2.1% in the 2nd quarter. Creative Planning now owns 106,397 shares of the bank’s stock worth $3,498,000 after acquiring an additional 2,186 shares during the period. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

First Mid Bancshares Price Performance

Shares of FMBH opened at $39.08 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.48. The stock’s 50 day moving average is $38.88 and its two-hundred day moving average is $35.45. First Mid Bancshares has a twelve month low of $27.02 and a twelve month high of $41.02. The firm has a market capitalization of $933.86 million, a PE ratio of 12.61 and a beta of 0.89.

First Mid Bancshares (NASDAQ:FMBH) last posted its quarterly earnings results on Thursday, August 1st. The bank reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. The firm had revenue of $79.19 million for the quarter, compared to the consensus estimate of $78.25 million. First Mid Bancshares had a return on equity of 10.43% and a net margin of 16.75%. Research analysts anticipate that First Mid Bancshares will post 3.47 earnings per share for the current year.

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.