First Mid Bancshares (NASDAQ:FMBH) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

First Mid Bancshares (NASDAQ:FMBH) announced its quarterly earnings results on Wednesday. The bank reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.06, FiscalAI reports. First Mid Bancshares had a net margin of 19.69% and a return on equity of 10.44%. The company had revenue of $98.54 million during the quarter, compared to the consensus estimate of $96.85 million.

First Mid Bancshares Price Performance

FMBH stock traded down $0.77 during mid-day trading on Wednesday, hitting $43.00. The company had a trading volume of 125,788 shares, compared to its average volume of 114,494. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 11.20 and a beta of 0.82. First Mid Bancshares has a 12-month low of $32.62 and a 12-month high of $44.85. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $41.73 and a 200 day moving average price of $40.35.

Analysts Set New Price Targets

FMBH has been the topic of several analyst reports. Zacks Research cut shares of First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. DA Davidson lifted their price target on shares of First Mid Bancshares from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Monday, February 2nd. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, First Mid Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.75.

Insider Buying and Selling

In other First Mid Bancshares news, EVP Bradley L. Beesley sold 6,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $44.00, for a total value of $264,000.00. Following the sale, the executive vice president owned 12,378 shares in the company, valued at $544,632. The trade was a 32.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.00% of the stock is currently owned by insiders.

Institutional Trading of First Mid Bancshares

Several hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC lifted its stake in First Mid Bancshares by 0.8% in the 4th quarter. Jane Street Group LLC now owns 41,096 shares of the bank’s stock worth $1,603,000 after purchasing an additional 326 shares in the last quarter. Federated Hermes Inc. lifted its stake in First Mid Bancshares by 32.0% in the 2nd quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock worth $64,000 after purchasing an additional 415 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in First Mid Bancshares by 17.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the bank’s stock worth $141,000 after purchasing an additional 538 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in First Mid Bancshares by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,566 shares of the bank’s stock worth $473,000 after purchasing an additional 550 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in First Mid Bancshares by 6.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,101 shares of the bank’s stock worth $511,000 after purchasing an additional 823 shares in the last quarter. Hedge funds and other institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Company 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.