Brokerages Set First Mid Bancshares, Inc. (NASDAQ:FMBH) Price Target at $49.50

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $49.50.

FMBH has been the subject of a number of recent research reports. Raymond James Financial reiterated an “outperform” rating and set a $48.00 price target on shares of First Mid Bancshares in a research note on Friday, May 1st. Keefe, Bruyette & Woods increased their price target on shares of First Mid Bancshares from $46.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of First Mid Bancshares in a research note on Friday, May 1st. Piper Sandler reissued an “overweight” rating and issued a $55.00 price objective (up from $52.00) on shares of First Mid Bancshares in a research note on Friday, May 1st. Finally, DA Davidson boosted their price objective on shares of First Mid Bancshares from $44.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, May 4th.

Hedge Funds Weigh In On First Mid Bancshares

Institutional investors have recently bought and sold shares of the company. Clearstead Advisors LLC increased its stake in First Mid Bancshares by 147.2% in the 4th quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock valued at $33,000 after buying an additional 505 shares during the period. Strs Ohio acquired a new position in shares of First Mid Bancshares during the 1st quarter worth $42,000. Aquatic Capital Management LLC grew its stake in shares of First Mid Bancshares by 272.5% during the 3rd quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank’s stock worth $54,000 after purchasing an additional 1,052 shares during the period. Federated Hermes Inc. grew its stake in shares of First Mid Bancshares by 32.0% during 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 during the period. Finally, Quantbot Technologies LP grew its stake in shares of First Mid Bancshares by 113.0% during the 2nd quarter. Quantbot Technologies LP now owns 2,394 shares of the bank’s stock worth $90,000 after purchasing an additional 1,270 shares during the period. 47.57% of the stock is owned by institutional investors and hedge funds.

First Mid Bancshares Stock Up 1.0%

Shares of NASDAQ:FMBH opened at $46.14 on Friday. The stock has a market cap of $1.23 billion, a P/E ratio of 11.62 and a beta of 0.80. The firm has a fifty day moving average price of $43.32 and a 200 day moving average price of $41.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 0.97. First Mid Bancshares has a 1-year low of $33.92 and a 1-year high of $46.44.

First Mid Bancshares (NASDAQ:FMBH) last issued its quarterly earnings results on Wednesday, April 29th. The bank reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.19. The firm 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%. Sell-side analysts predict that First Mid Bancshares will post 4.58 EPS for the current year.

First Mid Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, May 15th. First Mid Bancshares’s payout ratio is currently 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.