First Mid Bancshares (NASDAQ:FMBH) Rating Lowered to Sell at Wall Street Zen

Wall Street Zen cut shares of First Mid Bancshares (NASDAQ:FMBH) from a hold rating to a sell rating in a report released on Saturday morning.

Other equities analysts have also recently issued research reports about the stock. Stephens reiterated a “positive” rating on shares of First Mid Bancshares in a research report on Friday, May 2nd. Hovde Group decreased their target price on shares of First Mid Bancshares from $48.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, March 14th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $40.00 target price (down previously from $43.00) on shares of First Mid Bancshares in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $43.83.

First Mid Bancshares Stock Performance

First Mid Bancshares stock opened at $39.69 on Friday. The firm’s fifty day moving average price is $36.25 and its 200-day moving average price is $36.06. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $952.04 million, a P/E ratio of 11.81 and a beta of 0.87. First Mid Bancshares has a fifty-two week low of $27.58 and a fifty-two week high of $43.86.

First Mid Bancshares (NASDAQ:FMBH) last issued its earnings results on Wednesday, April 30th. The bank reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.02. The company had revenue of $85.21 million for the quarter, compared to analysts’ expectations of $58.29 million. First Mid Bancshares had a net margin of 17.75% and a return on equity of 9.90%. On average, equities research analysts expect that First Mid Bancshares will post 3.61 earnings per share for the current fiscal year.

First Mid Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date was Thursday, May 15th. First Mid Bancshares’s payout ratio is 28.57%.

Hedge Funds Weigh In On First Mid Bancshares

A number of hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC increased its position in shares of First Mid Bancshares by 16.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,959 shares of the bank’s stock valued at $72,000 after acquiring an additional 276 shares during the period. Federated Hermes Inc. increased its position in shares of First Mid Bancshares by 35.6% in the first quarter. Federated Hermes Inc. now owns 1,295 shares of the bank’s stock valued at $45,000 after acquiring an additional 340 shares during the period. State of Wyoming increased its position in shares of First Mid Bancshares by 33.4% in the first quarter. State of Wyoming now owns 1,410 shares of the bank’s stock valued at $49,000 after acquiring an additional 353 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of First Mid Bancshares by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,016 shares of the bank’s stock valued at $479,000 after acquiring an additional 458 shares during the period. Finally, Two Sigma Advisers LP increased its position in shares of First Mid Bancshares by 6.6% in the fourth quarter. Two Sigma Advisers LP now owns 8,100 shares of the bank’s stock valued at $298,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 47.57% of the company’s stock.

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, as well as construction and land development, 1-4 family residential properties, and multifamily residential properties loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.