First Mid Bancshares, Inc. (NASDAQ:FMBH) Sees Significant Decline in Short Interest

First Mid Bancshares, Inc. (NASDAQ:FMBH) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 141,500 shares, a decline of 10.3% from the October 15th total of 157,700 shares. Based on an average daily trading volume, of 59,100 shares, the short-interest ratio is presently 2.4 days.

First Mid Bancshares Stock Down 0.7 %

Shares of NASDAQ FMBH traded down $0.30 during mid-day trading on Tuesday, reaching $41.29. 28,198 shares of the company’s stock traded hands, compared to its average volume of 58,244. The stock has a market cap of $987.24 million, a P/E ratio of 12.65 and a beta of 0.89. First Mid Bancshares has a 1-year low of $28.86 and a 1-year high of $43.52. The business has a 50-day simple moving average of $39.20 and a 200 day simple moving average of $36.38. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.91 and a quick ratio of 0.91.

First Mid Bancshares Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.33%. First Mid Bancshares’s payout ratio is presently 29.54%.

Institutional Trading of First Mid Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of FMBH. EntryPoint Capital LLC bought a new position in First Mid Bancshares in the 1st quarter valued at $29,000. CWM LLC boosted its holdings in shares of First Mid Bancshares by 344.2% in the 2nd quarter. CWM LLC now owns 884 shares of the bank’s stock worth $29,000 after buying an additional 685 shares during the last quarter. Quantbot Technologies LP bought a new position in First Mid Bancshares during the third quarter valued at about $84,000. PDT Partners LLC purchased a new stake in First Mid Bancshares during the third quarter worth about $203,000. Finally, Price T Rowe Associates Inc. MD bought a new stake in First Mid Bancshares in the first quarter worth about $208,000. 47.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on FMBH shares. Stephens increased their price objective on First Mid Bancshares from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Piper Sandler boosted 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. Keefe, Bruyette & Woods cut 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 research report on Wednesday, October 2nd. Finally, DA Davidson cut First Mid Bancshares from a “buy” rating to a “neutral” rating and raised their price objective for the company from $44.00 to $47.00 in a research report on Tuesday, November 12th. Two investment 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 stock presently has an average rating of “Moderate Buy” and an average target price of $42.00.

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.