GW&K Investment Management LLC Trims Stock Position in First Mid Bancshares, Inc. $FMBH

GW&K Investment Management LLC trimmed its stake in First Mid Bancshares, Inc. (NASDAQ:FMBH) by 2.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 442,350 shares of the bank’s stock after selling 12,947 shares during the period. GW&K Investment Management LLC owned 1.84% of First Mid Bancshares worth $16,756,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. State of Alaska Department of Revenue bought a new position in shares of First Mid Bancshares in the third quarter worth approximately $36,000. Strs Ohio bought a new position in First Mid Bancshares in the 1st quarter worth approximately $42,000. Federated Hermes Inc. grew its holdings in First Mid Bancshares by 32.0% during the 2nd quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock valued at $64,000 after buying an additional 415 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of First Mid Bancshares by 176.3% during 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 during the last quarter. Finally, Quantbot Technologies LP lifted its holdings in shares of First Mid Bancshares by 113.0% in the second quarter. Quantbot Technologies LP now owns 2,394 shares of the bank’s stock worth $90,000 after buying an additional 1,270 shares in the last quarter. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Mid Bancshares

In other news, CEO Clay M. Dean sold 1,099 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 9,624 shares of the company’s stock, valued at approximately $410,848.56. This represents a 10.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bradley L. Beesley sold 6,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $44.00, for a total value of $264,000.00. Following the completion of the transaction, the executive vice president directly owned 12,378 shares of the company’s stock, valued at approximately $544,632. The trade was a 32.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 7.70% of the stock is currently owned by corporate insiders.

First Mid Bancshares Trading Down 1.2%

Shares of NASDAQ FMBH opened at $40.16 on Friday. First Mid Bancshares, Inc. has a fifty-two week low of $27.58 and a fifty-two week high of $44.85. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.93 and a current ratio of 0.96. The company has a market cap of $967.05 million, a price-to-earnings ratio of 10.46 and a beta of 0.90. The business’s 50 day moving average price is $41.77 and its 200-day moving average price is $39.65.

First Mid Bancshares (NASDAQ:FMBH) last posted its quarterly earnings data on Thursday, January 29th. The bank reported $1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.06. First Mid Bancshares had a return on equity of 10.44% and a net margin of 19.69%.The company had revenue of $90.14 million during the quarter, compared to analysts’ expectations of $67.86 million. On average, sell-side analysts expect that First Mid Bancshares, Inc. will post 3.61 earnings per share for the current year.

First Mid Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Thursday, February 12th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $1.00 dividend on an annualized basis and a yield of 2.5%. First Mid Bancshares’s payout ratio is 26.04%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Zacks Research cut First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. DA Davidson raised their target price on shares of First Mid Bancshares from $45.00 to $46.00 and gave the company a “neutral” rating in a report on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Mid Bancshares in a report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.60.

First Mid Bancshares Profile

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.