First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives $43.83 Average Target Price from Brokerages

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $43.83.

A number of brokerages have recently commented on FMBH. Hovde Group dropped their target price on First Mid Bancshares from $48.00 to $43.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Stephens reiterated a “positive” rating on shares of First Mid Bancshares in a report on Friday, May 2nd. Finally, Raymond James Financial restated an “outperform” rating and set a $40.00 price objective (down previously from $43.00) on shares of First Mid Bancshares in a report on Friday, May 2nd.

Institutional Investors Weigh In On First Mid Bancshares

Hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. purchased a new stake in shares of First Mid Bancshares in the 1st quarter worth $26,000. Sterling Capital Management LLC lifted its holdings in shares of First Mid Bancshares by 804.9% in the 4th quarter. Sterling Capital Management LLC now owns 733 shares of the bank’s stock worth $27,000 after buying an additional 652 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of First Mid Bancshares in the 1st quarter worth $29,000. Federated Hermes Inc. lifted its holdings in shares of First Mid Bancshares by 1,226.4% in the 4th quarter. Federated Hermes Inc. now owns 955 shares of the bank’s stock worth $35,000 after buying an additional 883 shares during the period. Finally, Strs Ohio purchased a new stake in shares of First Mid Bancshares in the 1st quarter worth $42,000. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

First Mid Bancshares Price Performance

Shares of First Mid Bancshares stock opened at $36.60 on Friday. The stock has a market cap of $878.03 million, a price-to-earnings ratio of 10.89 and a beta of 0.87. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a 50 day moving average price of $35.46 and a 200-day moving average price of $36.19. First Mid Bancshares has a one year low of $27.58 and a one year high of $43.86.

First Mid Bancshares (NASDAQ:FMBH) last announced its earnings results on Wednesday, April 30th. The bank reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.02. The firm had revenue of $85.21 million during the quarter, compared to analysts’ expectations of $58.29 million. First Mid Bancshares had a return on equity of 9.90% and a net margin of 17.75%. Equities analysts expect that First Mid Bancshares will post 3.61 EPS for the current year.

First Mid Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Thursday, May 15th. First Mid Bancshares’s payout ratio is currently 28.57%.

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.