DA Davidson Comments on First Mid Bancshares, Inc.’s Q2 2024 Earnings (NASDAQ:FMBH)

First Mid Bancshares, Inc. (NASDAQ:FMBH) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of First Mid Bancshares in a research report issued on Tuesday, April 30th. DA Davidson analyst J. Rulis anticipates that the bank will earn $0.80 per share for the quarter. The consensus estimate for First Mid Bancshares’ current full-year earnings is $3.27 per share. DA Davidson also issued estimates for First Mid Bancshares’ FY2025 earnings at $3.50 EPS.

A number of other analysts have also recently issued reports on FMBH. Piper Sandler decreased their target price on First Mid Bancshares from $39.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday. Raymond James increased their target price on First Mid Bancshares from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Finally, Stephens cut their target price on First Mid Bancshares from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, First Mid Bancshares has a consensus rating of “Moderate Buy” and an average target price of $37.00.

First Mid Bancshares Stock Up 2.1 %

Shares of NASDAQ FMBH opened at $31.62 on Wednesday. The stock has a market cap of $755.40 million, a PE ratio of 10.20 and a beta of 0.87. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.36. First Mid Bancshares has a 52-week low of $21.77 and a 52-week high of $35.83. The business has a 50-day moving average price of $30.76 and a 200 day moving average price of $31.21.

Hedge Funds Weigh In On First Mid Bancshares

Hedge funds have recently bought and sold shares of the company. ICA Group Wealth Management LLC purchased a new position in First Mid Bancshares in the 4th quarter valued at approximately $25,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in First Mid Bancshares by 48.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,370 shares of the bank’s stock valued at $186,000 after purchasing an additional 1,743 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in First Mid Bancshares in the 4th quarter valued at approximately $208,000. Arizona State Retirement System purchased a new position in First Mid Bancshares in the 4th quarter valued at approximately $208,000. Finally, Choreo LLC purchased a new position in First Mid Bancshares in the 4th quarter valued at approximately $222,000. 47.57% of the stock is owned by hedge funds and other institutional investors.

First Mid Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Tuesday, May 14th. First Mid Bancshares’s payout ratio is currently 29.68%.

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.