First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have received a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $42.50.

FMBH has been the subject of several analyst reports. Piper Sandler increased their target price on shares of First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Stephens downgraded shares of First Mid Bancshares from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods lifted their target price on shares of First Mid Bancshares from $42.00 to $45.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, DA Davidson lowered First Mid Bancshares from a “buy” rating to a “neutral” rating and upped their target price for the company from $44.00 to $47.00 in a report on Tuesday, November 12th.

First Mid Bancshares Trading Down 0.3 %

Shares of First Mid Bancshares stock opened at $36.82 on Wednesday. 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 stock has a fifty day simple moving average of $40.26 and a 200 day simple moving average of $38.21. First Mid Bancshares has a 12-month low of $28.86 and a 12-month high of $43.86. The company has a market capitalization of $880.44 million, a P/E ratio of 11.33 and a beta of 0.91.

First Mid Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.61%. First Mid Bancshares’s payout ratio is currently 29.54%.

Hedge Funds Weigh In On First Mid Bancshares

Several institutional investors have recently bought and sold shares of FMBH. Quantbot Technologies LP purchased a new stake in First Mid Bancshares in the third quarter worth $84,000. PDT Partners LLC purchased a new stake in First Mid Bancshares in the 3rd quarter worth about $203,000. Centiva Capital LP purchased a new stake in First Mid Bancshares in the 3rd quarter worth about $213,000. BNP Paribas Financial Markets raised its stake in First Mid Bancshares by 33.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,001 shares of the bank’s stock valued at $233,000 after acquiring an additional 1,510 shares during the period. Finally, Choreo LLC lifted its holdings in First Mid Bancshares by 17.9% during the second quarter. Choreo LLC now owns 7,568 shares of the bank’s stock valued at $246,000 after purchasing an additional 1,149 shares during the last quarter. Hedge funds and other 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.