Hovde Group Lowers First Mid Bancshares (NASDAQ:FMBH) Price Target to $43.00

First Mid Bancshares (NASDAQ:FMBH) had its price objective lowered by Hovde Group from $48.00 to $43.00 in a research report report published on Friday morning, Marketbeat.com reports. Hovde Group currently has an outperform rating on the bank’s stock.

A number of other analysts have also issued reports on the company. Keefe, Bruyette & Woods lifted their target price on First Mid Bancshares from $42.00 to $45.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Stephens reiterated an “equal weight” rating and issued a $43.00 price target on shares of First Mid Bancshares in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $45.00.

First Mid Bancshares Trading Up 1.3 %

NASDAQ:FMBH opened at $35.45 on Friday. The business’s 50-day moving average is $37.25 and its two-hundred day moving average is $38.72. 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 has a 12 month low of $28.86 and a 12 month high of $43.86. The firm has a market capitalization of $850.16 million, a PE ratio of 10.78 and a beta of 0.88.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.87 EPS for the quarter, beating the consensus estimate of $0.82 by $0.05. First Mid Bancshares had a return on equity of 10.10% and a net margin of 17.39%. Research analysts predict that First Mid Bancshares will post 3.61 earnings per share for the current fiscal year.

First Mid Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Thursday, February 13th were paid a $0.24 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $0.96 dividend on an annualized basis and a yield of 2.71%. First Mid Bancshares’s payout ratio is currently 29.18%.

Insider Buying and Selling at First Mid Bancshares

In other First Mid Bancshares news, Director James Edwin Zimmer purchased 1,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were bought at an average price of $39.87 per share, with a total value of $39,870.00. Following the completion of the acquisition, the director now owns 4,050 shares in the company, valued at approximately $161,473.50. This represents a 32.79 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Mid Bancshares

Hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC raised its holdings in shares of First Mid Bancshares by 804.9% during the fourth quarter. Sterling Capital Management LLC now owns 733 shares of the bank’s stock valued at $27,000 after buying an additional 652 shares during the last quarter. Federated Hermes Inc. raised its holdings in First Mid Bancshares by 1,226.4% during the fourth quarter. Federated Hermes Inc. now owns 955 shares of the bank’s stock worth $35,000 after purchasing an additional 883 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in First Mid Bancshares during the fourth quarter worth approximately $65,000. Tower Research Capital LLC TRC raised its holdings in First Mid Bancshares by 16.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,959 shares of the bank’s stock worth $72,000 after purchasing an additional 276 shares in the last quarter. Finally, New York State Teachers Retirement System bought a new position in shares of First Mid Bancshares in the fourth quarter valued at $76,000. Institutional investors own 47.57% of the company’s stock.

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.