First Mid Bancshares, Inc. (NASDAQ:FMBH) – Research analysts at Piper Sandler increased their Q2 2021 earnings per share estimates for First Mid Bancshares in a report issued on Sunday, May 2nd. Piper Sandler analyst N. Race now anticipates that the bank will post earnings per share of $1.00 for the quarter, up from their previous forecast of $0.98. Piper Sandler also issued estimates for First Mid Bancshares’ FY2021 earnings at $3.25 EPS, Q1 2022 earnings at $0.96 EPS, Q2 2022 earnings at $0.89 EPS, Q3 2022 earnings at $0.84 EPS and Q4 2022 earnings at $0.91 EPS.
Separately, Zacks Investment Research upgraded First Mid Bancshares from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Wednesday, March 10th.
A number of institutional investors have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV raised its position in shares of First Mid Bancshares by 8.3% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 5,337 shares of the bank’s stock valued at $180,000 after buying an additional 409 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of First Mid Bancshares by 38.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,800 shares of the bank’s stock valued at $61,000 after buying an additional 500 shares during the last quarter. Congress Asset Management Co. MA acquired a new position in shares of First Mid Bancshares during the fourth quarter worth about $678,000. HoldCo Asset Management L.P. acquired a new position in shares of First Mid Bancshares during the fourth quarter worth about $4,699,000. Finally, First Trust Advisors LP acquired a new position in shares of First Mid Bancshares during the fourth quarter worth about $222,000. 33.32% of the stock is currently owned by hedge funds and other institutional investors.
In other First Mid Bancshares news, Director Ray A. Sparks sold 813 shares of the stock in a transaction dated Wednesday, February 10th. The stock was sold at an average price of $36.00, for a total transaction of $29,268.00. Following the sale, the director now directly owns 188,037 shares of the company’s stock, valued at approximately $6,769,332. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ray A. Sparks sold 30,757 shares of the stock in a transaction dated Wednesday, February 24th. The stock was sold at an average price of $36.00, for a total value of $1,107,252.00. In the last ninety days, insiders have sold 41,570 shares of company stock worth $1,486,520. Insiders own 13.50% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 1st. Shareholders of record on Tuesday, May 18th will be paid a dividend of $0.205 per share. The ex-dividend date is Monday, May 17th. This represents a $0.82 annualized dividend and a yield of 1.85%. First Mid Bancshares’s payout ratio is currently 28.57%.
First Mid Bancshares Company Profile
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; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.
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