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

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

Several other research analysts have also commented on the stock. Keefe, Bruyette & Woods lowered shares of First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 price target on the stock. in a report on Wednesday, October 2nd. Stephens lifted their target price on shares of First Mid Bancshares from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Piper Sandler upped their price target on shares of First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

First Mid Bancshares Stock Performance

Shares of NASDAQ:FMBH opened at $42.40 on Tuesday. The firm has a market capitalization of $1.01 billion, a PE ratio of 13.05 and a beta of 0.89. First Mid Bancshares has a 12 month low of $28.86 and a 12 month high of $43.30. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.91 and a quick ratio of 0.91. The business has a 50-day moving average of $38.96 and a two-hundred day moving average of $36.10.

First Mid Bancshares Announces Dividend

The company also recently announced 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 2.26%. First Mid Bancshares’s dividend payout ratio (DPR) is presently 29.54%.

Institutional Investors Weigh In On First Mid Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in First Mid Bancshares in the 3rd quarter valued at about $869,000. Thrivent Financial for Lutherans boosted its holdings in First Mid Bancshares by 17.2% in the third quarter. Thrivent Financial for Lutherans now owns 43,252 shares of the bank’s stock valued at $1,683,000 after purchasing an additional 6,353 shares during the last quarter. Empowered Funds LLC grew its stake in First Mid Bancshares by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 60,114 shares of the bank’s stock valued at $2,339,000 after purchasing an additional 2,948 shares in the last quarter. CarsonAllaria Wealth Management Ltd. grew its stake in First Mid Bancshares by 29.9% during the 3rd quarter. CarsonAllaria Wealth Management Ltd. now owns 9,927 shares of the bank’s stock valued at $386,000 after purchasing an additional 2,285 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in First Mid Bancshares by 44.6% during the 3rd quarter. SG Americas Securities LLC now owns 12,006 shares of the bank’s stock worth $467,000 after purchasing an additional 3,703 shares during the last quarter. Hedge funds and other institutional investors own 47.57% of the company’s stock.

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.