First Mid Bancshares (NASDAQ:FMBH) Rating Lowered to “Neutral” at DA Davidson

DA Davidson lowered shares of First Mid Bancshares (NASDAQ:FMBH) from a buy rating to a neutral rating in a research note published on Tuesday, Marketbeat Ratings reports. DA Davidson currently has $47.00 price target on the bank’s stock, up from their prior price target of $44.00.

Several other equities research analysts have also recently issued reports on FMBH. Stephens lifted their target price on shares of First Mid Bancshares from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods lowered First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 price objective for the company. in a report on Wednesday, October 2nd. Finally, Piper Sandler upped their price objective on First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Two investment 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

First Mid Bancshares Price Performance

FMBH opened at $41.99 on Tuesday. The company’s 50-day simple moving average is $39.14 and its two-hundred day simple moving average is $36.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $1.00 billion, a P/E ratio of 12.92 and a beta of 0.89. First Mid Bancshares has a 52-week low of $28.86 and a 52-week high of $43.52.

First Mid Bancshares Announces Dividend

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

Hedge Funds Weigh In On First Mid Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the stock. EntryPoint Capital LLC purchased a new stake in First Mid Bancshares in the first quarter worth about $29,000. CWM LLC grew its stake in shares of 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 acquiring an additional 685 shares during the period. Quantbot Technologies LP purchased a new stake in First Mid Bancshares in the 3rd quarter worth approximately $84,000. PDT Partners LLC bought a new stake in First Mid Bancshares during the 3rd quarter worth approximately $203,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in First Mid Bancshares during the first quarter valued at approximately $208,000. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

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.