PDT Partners LLC Invests $203,000 in First Mid Bancshares, Inc. (NASDAQ:FMBH)

PDT Partners LLC purchased a new position in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,229 shares of the bank’s stock, valued at approximately $203,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in First Mid Bancshares by 7.1% during the first quarter. Vanguard Group Inc. now owns 1,292,218 shares of the bank’s stock worth $42,230,000 after buying an additional 85,434 shares during the period. SG Americas Securities LLC increased its position in First Mid Bancshares by 44.6% during the third 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 period. Victory Capital Management Inc. increased its position in First Mid Bancshares by 2.2% during 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 during the period. AQR Capital Management LLC increased 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 worth $1,030,000 after buying an additional 16,150 shares during the period. Finally, Bank of New York Mellon Corp increased its position in First Mid Bancshares by 7.1% during the second quarter. Bank of New York Mellon Corp now owns 118,048 shares of the bank’s stock worth $3,881,000 after buying an additional 7,849 shares during the period. Institutional investors and hedge funds own 47.57% of the company’s stock.

First Mid Bancshares Stock Up 1.6 %

First Mid Bancshares stock opened at $42.19 on Thursday. 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, Inc. has a 1-year low of $28.86 and a 1-year high of $43.86. The company has a market cap of $1.01 billion, a PE ratio of 12.79 and a beta of 0.91. The stock’s 50 day moving average price is $39.79 and its 200 day moving average price is $37.10.

First Mid Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.28%. First Mid Bancshares’s payout ratio is 29.54%.

Wall Street Analyst Weigh In

FMBH has been the topic of a number of recent research reports. Piper Sandler boosted their target price on First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods boosted their target price on First Mid Bancshares from $42.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday. DA Davidson lowered First Mid Bancshares from a “buy” rating to a “neutral” rating and boosted their target price for the company from $44.00 to $47.00 in a report on Tuesday, November 12th. Finally, Stephens boosted their target price on First Mid Bancshares from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

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.