First Mid Bancshares, Inc. (NASDAQ:FMBH) Given Average Rating of “Buy” by Brokerages

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have been assigned a consensus rating of “Buy” from the five research firms that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have covered the stock in the last year is $36.60.

FMBH has been the topic of several recent analyst reports. Hovde Group initiated coverage on shares of First Mid Bancshares in a report on Wednesday, June 26th. They issued an “outperform” rating and a $35.00 target price on the stock. Piper Sandler decreased their target price on shares of First Mid Bancshares from $39.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, April 29th.

First Mid Bancshares Stock Performance

NASDAQ:FMBH opened at $32.74 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $782.49 million, a price-to-earnings ratio of 10.56 and a beta of 0.90. The company’s 50-day moving average is $31.77 and its two-hundred day moving average is $31.78. First Mid Bancshares has a 1-year low of $23.54 and a 1-year high of $35.83.

First Mid Bancshares (NASDAQ:FMBH) last posted its earnings results 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. The company had revenue of $79.95 million for the quarter, compared to analyst estimates of $80.20 million. First Mid Bancshares had a net margin of 17.01% and a return on equity of 10.56%. Analysts forecast that First Mid Bancshares will post 3.23 EPS for the current year.

First Mid Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.92 annualized dividend and a dividend yield of 2.81%. First Mid Bancshares’s dividend payout ratio is currently 29.68%.

Hedge Funds Weigh In On First Mid Bancshares

Several large investors have recently made changes to their positions in FMBH. ICA Group Wealth Management LLC acquired a new position in shares of First Mid Bancshares in the 4th quarter worth approximately $25,000. EntryPoint Capital LLC acquired a new stake in First Mid Bancshares during the 1st quarter worth approximately $29,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in First Mid Bancshares by 48.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,370 shares of the bank’s stock worth $186,000 after buying an additional 1,743 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in First Mid Bancshares during the 4th quarter worth approximately $208,000. Finally, Arizona State Retirement System acquired a new stake in First Mid Bancshares during the 4th quarter worth approximately $208,000. 47.57% of the stock is currently owned by institutional investors and hedge funds.

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.