Short Interest in First Mid Bancshares, Inc. (NASDAQ:FMBH) Drops By 32.2%

First Mid Bancshares, Inc. (NASDAQ:FMBH) saw a significant decrease in short interest during the month of December. As of December 31st, there was short interest totaling 200,386 shares, a decrease of 32.2% from the December 15th total of 295,463 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average daily volume of 107,104 shares, the short-interest ratio is currently 1.9 days. Based on an average daily volume of 107,104 shares, the short-interest ratio is currently 1.9 days. Approximately 0.9% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FMBH shares. Weiss Ratings reissued a “buy (b-)” rating on shares of First Mid Bancshares in a report on Monday, December 29th. Zacks Research cut First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Piper Sandler lowered their target price on First Mid Bancshares from $49.00 to $48.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.80.

First Mid Bancshares Stock Performance

NASDAQ:FMBH traded up $0.01 during mid-day trading on Friday, reaching $41.51. The stock had a trading volume of 134,522 shares, compared to its average volume of 91,994. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $996.24 million, a price-to-earnings ratio of 11.37 and a beta of 0.90. First Mid Bancshares has a twelve month low of $27.58 and a twelve month high of $42.85. The business has a 50 day simple moving average of $39.39 and a 200 day simple moving average of $38.67.

First Mid Bancshares (NASDAQ:FMBH) last announced its quarterly earnings data on Thursday, October 30th. The bank reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The company had revenue of $89.27 million for the quarter, compared to analyst estimates of $65.60 million. First Mid Bancshares had a return on equity of 10.27% and a net margin of 18.77%. On average, analysts expect that First Mid Bancshares will post 3.61 earnings per share for the current fiscal year.

First Mid Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 14th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, November 14th. First Mid Bancshares’s dividend payout ratio is currently 27.40%.

Insiders Place Their Bets

In related news, CEO Clay M. Dean sold 1,099 shares of the stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $42.69, for a total value of $46,916.31. Following the transaction, the chief executive officer directly owned 9,624 shares of the company’s stock, valued at $410,848.56. This trade represents a 10.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On First Mid Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue purchased a new stake in shares of First Mid Bancshares during the 3rd quarter worth $36,000. Strs Ohio acquired a new stake in shares of First Mid Bancshares in the first quarter valued at about $42,000. Aquatic Capital Management LLC grew its position in First Mid Bancshares by 272.5% during the third quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank’s stock worth $54,000 after buying an additional 1,052 shares during the period. Federated Hermes Inc. grew its position in First Mid Bancshares by 32.0% during the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock worth $64,000 after buying an additional 415 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in First Mid Bancshares by 176.3% in the second quarter. PNC Financial Services Group Inc. now owns 2,075 shares of the bank’s stock valued at $78,000 after buying an additional 1,324 shares in the last quarter. Institutional investors and hedge funds own 47.57% of the company’s stock.

About First Mid Bancshares

First Mid Bancshares, Inc (NASDAQ: FMBH), headquartered in Mattoon, Illinois, is a financial services holding company that offers a comprehensive suite of banking products and services through its main subsidiary, First Mid Bank & Trust. The company’s primary business activities include commercial and retail banking, mortgage origination and servicing, wealth management and trust administration, as well as treasury and cash management solutions.

Through its branch network, First Mid provides consumer deposit products such as checking and savings accounts, certificates of deposit and online banking services.