First Mid Bancshares, Inc. (NASDAQ:FMBH) Sees Significant Decline in Short Interest

First Mid Bancshares, Inc. (NASDAQ:FMBH) was the recipient of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 141,500 shares, a decrease of 10.3% from the October 15th total of 157,700 shares. Based on an average trading volume of 59,100 shares, the short-interest ratio is presently 2.4 days.

Wall Street Analysts Forecast Growth

FMBH has been the topic of a number of recent analyst reports. Stephens boosted their price objective on First Mid Bancshares from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods lowered First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 price target on the stock. in a research note on Wednesday, October 2nd. Piper Sandler upped their price target on First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, DA Davidson lowered First Mid Bancshares from a “buy” rating to a “neutral” rating and increased their target price for the company from $44.00 to $47.00 in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, First Mid Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Institutional Trading of First Mid Bancshares

Several institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. raised its stake in shares of First Mid Bancshares by 2.2% in the second quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank’s stock worth $998,000 after purchasing an additional 650 shares during the last quarter. CWM LLC increased its position in shares of First Mid Bancshares by 344.2% during the second quarter. CWM LLC now owns 884 shares of the bank’s stock valued at $29,000 after acquiring an additional 685 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of First Mid Bancshares by 1.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 88,910 shares of the bank’s stock valued at $3,459,000 after acquiring an additional 900 shares during the last quarter. EntryPoint Capital LLC bought a new position in First Mid Bancshares during the first quarter valued at $29,000. Finally, Rhumbline Advisers grew its holdings in First Mid Bancshares by 3.3% during the second quarter. Rhumbline Advisers now owns 33,272 shares of the bank’s stock valued at $1,094,000 after purchasing an additional 1,049 shares during the period. 47.57% of the stock is owned by hedge funds and other institutional investors.

First Mid Bancshares Price Performance

Shares of FMBH traded down $0.33 during midday trading on Tuesday, hitting $41.26. The company’s stock had a trading volume of 20,428 shares, compared to its average volume of 58,209. The stock has a market capitalization of $986.53 million, a price-to-earnings ratio of 12.65 and a beta of 0.89. First Mid Bancshares has a one year low of $28.86 and a one year high of $43.52. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.41. The company’s fifty day simple moving average is $39.20 and its two-hundred day simple moving average is $36.38.

First Mid Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Thursday, November 14th. First Mid Bancshares’s dividend payout ratio is 29.54%.

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.