First Mid Bancshares’ (FMBH) Equal Weight Rating Reaffirmed at Stephens

Stephens reissued their equal weight rating on shares of First Mid Bancshares (NASDAQ:FMBH) in a research report released on Friday morning,Benzinga reports. The brokerage currently has a $43.00 target price on the bank’s stock.

A number of other equities research analysts also recently issued reports on the company. Keefe, Bruyette & Woods increased their price target 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. DA Davidson downgraded First Mid Bancshares from a “buy” rating to a “neutral” rating and boosted their price target for the company from $44.00 to $47.00 in a research note on Tuesday, November 12th. Finally, Piper Sandler upped their price objective on shares of First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, First Mid Bancshares presently has an average rating of “Moderate Buy” and an average price target of $42.50.

First Mid Bancshares Stock Up 0.6 %

FMBH opened at $37.84 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a fifty day moving average of $38.91 and a 200-day moving average of $38.71. First Mid Bancshares has a fifty-two week low of $28.86 and a fifty-two week high of $43.86. The company has a market capitalization of $904.75 million, a P/E ratio of 11.64 and a beta of 0.93.

First Mid Bancshares (NASDAQ:FMBH) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.05. First Mid Bancshares had a net margin of 17.32% and a return on equity of 10.38%. On average, equities analysts expect that First Mid Bancshares will post 3.42 EPS for the current year.

First Mid Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Thursday, February 13th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.54%. The ex-dividend date is Thursday, February 13th. First Mid Bancshares’s dividend payout ratio (DPR) is presently 29.54%.

Insider Buying and Selling at First Mid Bancshares

In related news, Director James Edwin Zimmer bought 1,000 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were purchased at an average price of $39.87 per share, for a total transaction of $39,870.00. Following the completion of the transaction, the director now directly owns 4,050 shares of the company’s stock, valued at approximately $161,473.50. This represents a 32.79 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its position in First Mid Bancshares by 5.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 778,135 shares of the bank’s stock worth $25,584,000 after acquiring an additional 36,769 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of First Mid Bancshares by 7.3% during the third quarter. Wellington Management Group LLP now owns 387,926 shares of the bank’s stock valued at $15,094,000 after purchasing an additional 26,560 shares in the last quarter. Barclays PLC grew its holdings in shares of First Mid Bancshares by 327.6% during the third quarter. Barclays PLC now owns 34,347 shares of the bank’s stock worth $1,337,000 after purchasing an additional 26,315 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of First Mid Bancshares by 24.1% in the third quarter. JPMorgan Chase & Co. now owns 133,132 shares of the bank’s stock valued at $5,180,000 after buying an additional 25,855 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in First Mid Bancshares in the 3rd quarter valued at approximately $869,000. 47.57% of the stock is currently owned by institutional investors and hedge funds.

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.