First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives $42.50 Average PT from Brokerages

First Mid Bancshares, Inc. (NASDAQ:FMBH) has earned an average recommendation of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $42.50.

FMBH has been the topic of several recent research reports. DA Davidson downgraded First Mid Bancshares from a “buy” rating to a “neutral” rating and increased their target price for the stock from $44.00 to $47.00 in a research report on Tuesday, November 12th. Keefe, Bruyette & Woods raised their target price on First Mid Bancshares from $42.00 to $45.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Stephens cut First Mid Bancshares from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. Finally, Piper Sandler raised their price objective on shares of First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, November 1st.

First Mid Bancshares Stock Performance

NASDAQ FMBH opened at $36.19 on Wednesday. The company’s 50 day moving average is $40.12 and its 200-day moving average is $38.33. The firm has a market cap of $865.38 million, a P/E ratio of 11.14 and a beta of 0.93. First Mid Bancshares has a 12-month low of $28.86 and a 12-month high of $43.86. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.41.

First Mid Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Thursday, November 14th. First Mid Bancshares’s dividend payout ratio is currently 29.54%.

Hedge Funds Weigh In On First Mid Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of FMBH. Franklin Resources Inc. purchased a new position in First Mid Bancshares in the third quarter worth $566,000. Barclays PLC raised its holdings in shares of First Mid Bancshares by 327.6% during the 3rd quarter. Barclays PLC now owns 34,347 shares of the bank’s stock valued at $1,337,000 after buying an additional 26,315 shares in the last quarter. SG Americas Securities LLC lifted its position in First Mid Bancshares by 44.6% in the 3rd quarter. SG Americas Securities LLC now owns 12,006 shares of the bank’s stock worth $467,000 after buying an additional 3,703 shares during the last quarter. Victory Capital Management Inc. boosted its stake in First Mid Bancshares by 2.2% in the second quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank’s stock worth $998,000 after buying an additional 650 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in First Mid Bancshares by 106.4% during the second quarter. AQR Capital Management LLC now owns 31,333 shares of the bank’s stock valued at $1,030,000 after acquiring an additional 16,150 shares during the last quarter. Hedge funds and other institutional investors own 47.57% of the company’s stock.

About First Mid Bancshares

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.