Analysts Set First Mid Bancshares, Inc. (NASDAQ:FMBH) PT at $37.00

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have received a consensus recommendation of “Buy” from the five analysts that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have covered the stock in the last year is $36.60.

FMBH has been the subject of a number of analyst reports. Hovde Group initiated coverage on shares of First Mid Bancshares in a report on Wednesday, June 26th. They issued an “outperform” rating and a $35.00 price target for the company. Piper Sandler lowered their price target on shares of First Mid Bancshares from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Monday, April 29th.

First Mid Bancshares Stock Up 0.7 %

Shares of NASDAQ:FMBH opened at $32.74 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.46. First Mid Bancshares has a 12 month low of $23.54 and a 12 month high of $35.83. The company has a 50-day moving average price of $31.77 and a 200 day moving average price of $31.78. The company has a market cap of $782.49 million, a price-to-earnings ratio of 10.56 and a beta of 0.90.

First Mid Bancshares (NASDAQ:FMBH) last announced its quarterly earnings results on Wednesday, April 24th. The bank reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.07. First Mid Bancshares had a net margin of 17.01% and a return on equity of 10.56%. The firm had revenue of $79.95 million during the quarter, compared to the consensus estimate of $80.20 million. As a group, equities research analysts predict that First Mid Bancshares will post 3.23 earnings per share for the current year.

First Mid Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Tuesday, May 14th. First Mid Bancshares’s dividend payout ratio (DPR) is presently 29.68%.

Hedge Funds Weigh In On First Mid Bancshares

A number of institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD purchased a new position in shares of First Mid Bancshares during the first quarter worth approximately $208,000. EntryPoint Capital LLC purchased a new position in First Mid Bancshares during the first quarter valued at approximately $29,000. Vanguard Group Inc. increased its holdings in First Mid Bancshares by 7.1% during the first quarter. Vanguard Group Inc. now owns 1,292,218 shares of the bank’s stock valued at $42,230,000 after buying an additional 85,434 shares during the period. Russell Investments Group Ltd. increased its holdings in First Mid Bancshares by 29.3% during the first quarter. Russell Investments Group Ltd. now owns 67,127 shares of the bank’s stock valued at $2,194,000 after buying an additional 15,227 shares during the period. Finally, Empowered Funds LLC increased its holdings in First Mid Bancshares by 8.2% during the first quarter. Empowered Funds LLC now owns 53,206 shares of the bank’s stock valued at $1,739,000 after buying an additional 4,015 shares during the period. 47.57% of the stock is owned by hedge funds and other institutional investors.

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.