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

by · The Cerbat Gem

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH – Get Free Report) have received a consensus rating of “Buy” from the seven analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $42.80.

Several equities analysts have weighed in on FMBH shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Mid Bancshares in a research note on Monday. Zacks Research upgraded shares of First Mid Bancshares from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Finally, Piper Sandler lowered their price objective on shares of First Mid Bancshares from $49.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, November 3rd.

View Our Latest Research Report on First Mid Bancshares

First Mid Bancshares Price Performance

Shares of NASDAQ:FMBH opened at $41.17 on Friday. The company’s fifty day moving average is $37.98 and its two-hundred day moving average is $38.17. The company has a market cap of $988.08 million, a P/E ratio of 11.28 and a beta of 0.93. First Mid Bancshares has a 12-month low of $27.58 and a 12-month high of $42.85. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.37.

First Mid Bancshares (NASDAQ:FMBH – Get Free Report) last issued its quarterly earnings results on Thursday, October 30th. The bank reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The business had revenue of $89.27 million for the quarter, compared to the consensus estimate of $65.60 million. First Mid Bancshares had a return on equity of 10.27% and a net margin of 18.77%. Equities analysts expect that First Mid Bancshares will post 3.61 earnings per share for the current fiscal year.

First Mid Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 14th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, November 14th. First Mid Bancshares’s dividend payout ratio (DPR) is currently 27.40%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Tudor Investment Corp ET AL raised its stake in shares of First Mid Bancshares by 421.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 71,260 shares of the bank’s stock worth $2,699,000 after purchasing an additional 57,600 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in First Mid Bancshares by 16.1% in the third quarter. Qube Research & Technologies Ltd now owns 29,814 shares of the bank’s stock worth $1,129,000 after buying an additional 4,144 shares during the last quarter. Aquatic Capital Management LLC increased its holdings in First Mid Bancshares by 272.5% in the third quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank’s stock worth $54,000 after buying an additional 1,052 shares during the last quarter. Ameriprise Financial Inc. raised its position in First Mid Bancshares by 25.7% during the third quarter. Ameriprise Financial Inc. now owns 23,890 shares of the bank’s stock valued at $905,000 after acquiring an additional 4,883 shares in the last quarter. Finally, Creative Planning raised its position in First Mid Bancshares by 11.3% during the third quarter. Creative Planning now owns 70,661 shares of the bank’s stock valued at $2,677,000 after acquiring an additional 7,178 shares in the last quarter. 47.57% of the stock is owned by institutional investors and hedge funds.

First Mid Bancshares Company Profile

(Get Free Report)

First Mid Bancshares, Inc (NASDAQ: FMBH), headquartered in Mattoon, Illinois, is a financial services holding company that offers a comprehensive suite of banking products and services through its main subsidiary, First Mid Bank & Trust. The company’s primary business activities include commercial and retail banking, mortgage origination and servicing, wealth management and trust administration, as well as treasury and cash management solutions.

Through its branch network, First Mid provides consumer deposit products such as checking and savings accounts, certificates of deposit and online banking services.

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