Victory Capital Management Inc. Buys 2,125 Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH)

Victory Capital Management Inc. raised its stake in First Mid Bancshares, Inc. (NASDAQ:FMBH) by 6.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,825 shares of the bank’s stock after acquiring an additional 2,125 shares during the quarter. Victory Capital Management Inc.’s holdings in First Mid Bancshares were worth $1,215,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. CWM LLC increased its stake in shares of First Mid Bancshares by 174.5% in the first quarter. CWM LLC now owns 3,791 shares of the bank’s stock valued at $132,000 after buying an additional 2,410 shares during the period. Ballentine Partners LLC acquired a new position in shares of First Mid Bancshares in the first quarter valued at approximately $253,000. Alps Advisors Inc. increased its stake in shares of First Mid Bancshares by 12.5% in the first quarter. Alps Advisors Inc. now owns 10,129 shares of the bank’s stock valued at $354,000 after buying an additional 1,129 shares during the period. SG Americas Securities LLC increased its stake in shares of First Mid Bancshares by 35.0% in the first quarter. SG Americas Securities LLC now owns 14,352 shares of the bank’s stock valued at $501,000 after buying an additional 3,720 shares during the period. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in shares of First Mid Bancshares in the first quarter valued at approximately $240,000. Institutional investors own 47.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. DA Davidson upped their price objective on First Mid Bancshares from $39.00 to $42.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Raymond James Financial reaffirmed an “outperform” rating and issued a $40.00 price objective (down previously from $43.00) on shares of First Mid Bancshares in a research note on Friday, May 2nd. Stephens reaffirmed a “positive” rating on shares of First Mid Bancshares in a research note on Friday, May 2nd. Wall Street Zen raised First Mid Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Piper Sandler increased their target price on shares of First Mid Bancshares from $47.00 to $49.00 and gave the company an “overweight” rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.33.

First Mid Bancshares Stock Performance

NASDAQ:FMBH opened at $38.35 on Thursday. The company has a market capitalization of $920.02 million, a PE ratio of 10.89 and a beta of 0.87. The company has a 50 day simple moving average of $37.33 and a two-hundred day simple moving average of $36.35. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.94 and a current ratio of 0.94. First Mid Bancshares, Inc. has a fifty-two week low of $27.58 and a fifty-two week high of $43.86.

First Mid Bancshares (NASDAQ:FMBH) last posted its quarterly earnings results on Thursday, July 24th. The bank reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.08. The firm had revenue of $88.23 million for the quarter, compared to analysts’ expectations of $64.42 million. First Mid Bancshares had a return on equity of 10.19% and a net margin of 18.32%. Research analysts anticipate that First Mid Bancshares, Inc. will post 3.61 earnings per share for the current year.

First Mid Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.61%. This is a boost from First Mid Bancshares’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, August 15th. First Mid Bancshares’s dividend payout ratio is presently 27.27%.

First Mid Bancshares 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.