Analysts Set First Mid Bancshares, Inc. (NASDAQ:FMBH) Target Price at $45.00

First Mid Bancshares, Inc. (NASDAQ:FMBH) has earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $43.83.

FMBH has been the subject of several recent analyst reports. Raymond James restated an “outperform” rating and set a $40.00 target price (down from $43.00) on shares of First Mid Bancshares in a research note on Friday. Stephens cut their target price on First Mid Bancshares from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Hovde Group decreased their price target on shares of First Mid Bancshares from $48.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, March 14th.

First Mid Bancshares Stock Performance

Shares of NASDAQ:FMBH opened at $35.91 on Friday. The company has a market cap of $861.19 million, a P/E ratio of 10.91 and a beta of 0.84. First Mid Bancshares has a one year low of $27.58 and a one year high of $43.86. The business’s 50-day simple moving average is $34.33 and its 200 day simple moving average is $37.37. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 0.91.

First Mid Bancshares (NASDAQ:FMBH) last posted 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 business 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 17.39% and a return on equity of 10.10%. On average, sell-side analysts forecast that First Mid Bancshares will post 3.61 earnings per share for the current fiscal year.

First Mid Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be given a $0.24 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.96 annualized dividend and a dividend yield of 2.67%. First Mid Bancshares’s payout ratio is 28.57%.

Institutional Investors Weigh In On First Mid Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in FMBH. Barclays PLC raised its holdings in shares of First Mid Bancshares by 327.6% during the third quarter. Barclays PLC now owns 34,347 shares of the bank’s stock worth $1,337,000 after purchasing an additional 26,315 shares during the period. Franklin Resources Inc. acquired a new stake in First Mid Bancshares during the third quarter worth about $566,000. JPMorgan Chase & Co. lifted its holdings in First Mid Bancshares by 24.1% in the third quarter. JPMorgan Chase & Co. now owns 133,132 shares of the bank’s stock worth $5,180,000 after acquiring an additional 25,855 shares during the last quarter. New York State Teachers Retirement System acquired a new position in First Mid Bancshares in the fourth quarter valued at approximately $76,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of First Mid Bancshares by 20.2% during the fourth quarter. Bank of New York Mellon Corp now owns 120,471 shares of the bank’s stock valued at $4,436,000 after purchasing an additional 20,266 shares during the last quarter. 47.57% of the stock is owned by institutional investors and hedge funds.

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.