First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

First Mid Bancshares, Inc. (NASDAQ:FMBH) has been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $49.50.

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their price target on shares of First Mid Bancshares from $46.00 to $48.00 and gave the company a “market perform” rating in a research report on Friday, May 1st. DA Davidson increased their price target on shares of First Mid Bancshares from $44.00 to $47.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Raymond James Financial reissued an “outperform” rating and set a $48.00 price target on shares of First Mid Bancshares in a research report on Friday, May 1st. Piper Sandler reissued an “overweight” rating and set a $55.00 price target (up from $52.00) on shares of First Mid Bancshares in a research report on Friday, May 1st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Mid Bancshares in a research note on Friday, May 1st.

Hedge Funds Weigh In On First Mid Bancshares

A number of institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. raised its stake in First Mid Bancshares by 17.4% in the third quarter. Federated Hermes Inc. now owns 2,007 shares of the bank’s stock worth $76,000 after buying an additional 297 shares in the last quarter. Jane Street Group LLC raised its stake in First Mid Bancshares by 0.8% in the fourth quarter. Jane Street Group LLC now owns 41,096 shares of the bank’s stock worth $1,603,000 after buying an additional 326 shares in the last quarter. CWM LLC raised its stake in First Mid Bancshares by 5.8% in the fourth quarter. CWM LLC now owns 6,283 shares of the bank’s stock worth $245,000 after buying an additional 343 shares in the last quarter. Clearstead Advisors LLC raised its stake in First Mid Bancshares by 147.2% in the fourth quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock worth $33,000 after buying an additional 505 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in First Mid Bancshares by 17.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the bank’s stock worth $141,000 after buying an additional 538 shares in the last quarter. 47.57% of the stock is owned by institutional investors.

First Mid Bancshares Trading Up 1.0%

Shares of FMBH opened at $46.67 on Friday. The stock has a market capitalization of $1.24 billion, a P/E ratio of 11.76 and a beta of 0.80. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.03. The firm has a fifty day simple moving average of $43.52 and a two-hundred day simple moving average of $41.90. First Mid Bancshares has a twelve month low of $33.92 and a twelve month high of $46.95.

First Mid Bancshares (NASDAQ:FMBH) last announced its quarterly earnings results on Wednesday, April 29th. The bank reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.19. The business had revenue of $98.54 million during the quarter, compared to analysts’ expectations of $96.45 million. First Mid Bancshares had a net margin of 19.95% and a return on equity of 10.44%. On average, research analysts anticipate that First Mid Bancshares will post 4.58 EPS for the current year.

First Mid Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, May 15th. First Mid Bancshares’s dividend payout ratio is presently 25.19%.

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.